MannKind is reviewing its strategic options for Afrezza as a result of the termination of its license and collaboration agreement.
The termination will take effect no later than six months or 4 July 2016.
Under the licensing agreement signed in August 2014, Sanofi agreed to pay up to $900m to MannKind for the rights to market and distribute Afrezza.
Afrezza is the first inhaled insulin to be approved by the US Food and Drug Administration for adults with type 1 and type 2 diabetes.
Afrezza is a drug device combination product that features a dry formulation of human insulin delivered from a small and portable inhaler to help patients achieve blood sugar control.
It helps in controlling high blood sugar as part of a diabetes management plan that may feature diet, exercise and other diabetes medications.
Afrezza should not be used in patients with chronic lung disease such as asthma or COPD. It is not indicated to treat diabetic ketoacidosis and not recommended in patients who smoke or who have recently stopped smoking.
It is available in four and eight-unit single-dose cartridges of insulin powder that can be used in combination with other diabetes medications to achieve target blood sugar levels.