Today's Research Reports on Stocks to Watch: Mannkind Corporation and AstraZeneca
NEW YORK, NY / ACCESSWIRE / July 14, 2017 / AstraZeneca;s shares took a tumble yesterday as traders learned the compan'’s CEO has accepted a position at TEVA, an Israeli-based genetics company. Many investors didn't think the news was good as the rumor dropped right before the company is expected to release trial results for Imfinzi. Shares of Mannkind Corporation saw big gains after announcing a new Chief Commercial Officer on Wednesday.
RDI Initiates Coverage on:
MannKind Corporation
https://ub.rdinvesting.com/news/?ticker=MNKD
AstraZeneca PLC
https://ub.rdinvesting.com/news/?ticker=AZN
MannKind Corporaton's shares closed up 12.82% on Thursday. Earlier in the week the company had announced that Patrick McCauley, J.D., M.B.A., has joined the company as its Chief Commercial Officer. McCauley will be responsible for leading MannKind's commercial operations on a global basis, effective immediately and will report directly to Michael Castagna, Pharm.D., Chief Executive Officer. He will also serve on the company's executive leadership team. CEO Dr. Michael Castagna commented, "Pat is an exceptional addition to our executive leadership team and he will be a huge asset for us as we transform MannKind into a world class company. I expect Pat will help us to accelerate the growth of Afrezza and pipeline products to come, and position our company to deliver strong results in the years ahead.”
Access RDI's MannKind Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=MNKD
AstraZeneca PLC's shares closed in the red yesterday down 1.61%. Trading volume was staggering at over 21 million shares compared to the stock's average volume of roughly 3.8 million. Rumors surfaced on Thursday that the company's CEO could be going to rival Teva. It was Israeli newspaper Cacalist that first broke the news that AstraZeneca CEO Pascal Soriot is considering leaving to take on a role at Teva to help its turnaround endeavors. According to Calcalist, Soriot met with Teva's search committee and chairman to lead the company. If he accepts it would mean a $20 million signing bonus as well as a $5.7 million salary. This is nearly double what he receives at AstraZeneca. Calcalist has said that financial terms are still being discussed. An AstraZeneca spokeswoman told Reuters, "We don’t comment on rumor and speculation." Credit Suisse analyst Vamil Divan commented, "The selection of Soriot as the new CEO would also be surprising to us from a TEVA perspective, although we believe it would be well received by investors who are looking for a credible pharma leader to step in and take over the leadership of a company that has been through a series of struggles in the past couple years."
Access RDI's AstraZeneca PLC Research Report at:
https://ub.rdinvesting.com/news/?ticker=AZN
Our Actionable Research on MannKind Corporation (NASDAQ: MNKD) and AstraZeneca PLC (NYSE: AZN) can be downloaded free of charge at Research Driven Investing.
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