Why MannKind Corporation Stock Vaulted Higher in October

MannKind Corporation (NASDAQ: MNKD), a small-cap biotech company, saw its shares rise by an astounding 51.6% last month, according to S&P Global Market Intelligence. The biotech's shares took flight in October for three obvious reasons:

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MannKind seemed to be headed directly for bankruptcy court prior to these events because of Afrezza's weak sales, and the company's enormous debt load. While these positive developments may ultimately not be enough to change this bleak picture, some investors, at least, appear to think that MannKind is now headed in the right direction.

Source: Fool.com