MannKind Corp. (MNKD)

[exwannabe]

That's not the bad part.

Even discounting the excess inventory charge, the gross margin went negative. In other words, they are losing money before you even look at the overhead.

For every $1 sold at retail.

$0.40 goes to the retailer network
$1.00 goes to make the product
$0.88 goes to R&D
$5.20 goes to SGA
$0.90 goes to interest

Does anybody see a problem here?