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MannKind Corporation (MNKD)

NasdaqGM - NasdaqGM Real Time Price. Currency in USD
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2.8870+0.0070 (+0.24%)
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Previous Close2.8800
Open2.8700
Bid2.8600 x 1300
Ask2.8700 x 3100
Day's Range2.8600 - 2.9399
52 Week Range0.8000 - 3.2000
Volume1,374,798
Avg. Volume2,723,095
Market Cap671.519M
Beta (5Y Monthly)2.10
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
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  • MannKind and MidCap Amend Credit Facility
    GlobeNewswire

    MannKind and MidCap Amend Credit Facility

    * $10 million funded immediately * $25 million available upon TreT FDA approval * Interest-only period extended to September 2022WESTLAKE VILLAGE, Calif., Dec. 01, 2020 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today announced that it and MidCap Financial Trust, as agent, have entered into an amendment to the credit and security agreement dated August 6, 2019 (the “MidCap Credit Facility”).“We appreciate the unwavering financial support and partnership from MidCap as we progress our three most important business objectives – growing Afrezza to become the standard of care for mealtime insulin, working with our collaboration partner, United Therapeutics, to move Treprostinil Technosphere (TreT) toward an NDA submission with the FDA, and developing our pipeline,” said Michael Castagna, CEO of MannKind.The amendment to the MidCap Credit Facility provides that: (i) Tranche 2 of $10.0 million is made available to the Company and is scheduled to be funded on December 1, 2020, (ii) Tranche 3 of $25.0 million is available to the Company upon the satisfaction of certain conditions, including FDA approval of TreT, (iii) modifications to the financial covenant relating to trailing twelve month minimum Afrezza Net Revenue requirements, (iv) an additional covenant that requires the marketing of TreT if Tranche 3 is funded, (v) an extension of the interest-only period until September 1, 2022 (vi) the minimum cash covenant is increased to $30.0 million at all times, and (vii) amendments to the prepayment fees.About MannKind CorporationMannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, its first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.About MidCap FinancialMidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to companies across all industries. MidCap Financial provides management or other services with respect to over $27 billion of commitments as of September, 2020 of which $3.9 billion are managed by MidCap Financial Services Capital Management LLC, a registered investment adviser. MidCap Financial provides a broad array of products intended to finance growth and manage working capital. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc., pursuant to an investment management agreement. Apollo Global Management, Inc. is one of the world's largest asset managers with approximately $414 billion of assets under management (as of June 30, 2020), providing market leading industry expertise, market reach, and financing synergies. Loans to CA residents issued under California Financing Law License No. 60DBO 45424, 60DBO 45427, 60DBO 45431, 60DBO 45435, 60DBO 45439, 60DBO 49531 or 603I389Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties detailed in MannKind's filings with the SEC. For a discussion of these and other factors, please refer to MannKind’s annual report on Form 10-K for the year ended December 31, 2019 as well as MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.Company Contact: 818-661-5000 ir@mannkindcorp.com

  • Sabrina Kay Appointed to MannKind Board of Directors
    GlobeNewswire

    Sabrina Kay Appointed to MannKind Board of Directors

    WESTLAKE VILLAGE, Calif., Nov. 30, 2020 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced that Sabrina Kay Ed.D. has been appointed to its Board of Directors, effective December 1, 2020. Dr.  Kay will also serve as a member of the Audit Committee of the Board. A serial entrepreneur, tech educator, fashion designer, philanthropist, and public speaker, Dr. Kay brings to MannKind a wealth of experience in marketing, human capital development, finance and executive leadership. “We are excited to welcome Dr. Kay and her years of invaluable leadership to our Board of Directors,” said Kent Kresa, Chairman of the Board. “Her entrepreneurial vision will be a critical asset for MannKind as the company continues to evolve and the pipeline expands. Dr. Kay has a successful track record in launching and leading a variety of companies, and will add a fresh and diverse perspective as we continue to pursue our mission to give people control of their health and the freedom to live life.” Currently, Dr. Kay serves as Founder and CEO of Fremont Private Investments, where she has led the operations and exits of several companies including The Art Institute of Hollywood (sold to NASDAQ: EDMC), Premier Business Bank (sold to NASDAQ: FFWM), Fashion Umbrella, Fremont College, and Dale Carnegie of Los Angeles.In addition to her success in the business world, Dr. Kay is a philanthropist, having served on more than 30 charitable and civic boards. She is chairman of After-School All-Stars Los Angeles, and a board member of the Los Angeles Sports and Entertainment Commission, Petersen Automotive Museum, Portal Schools, the Leadership Council of International Medical Corps Leadership Council, and the Board of Leaders of USC Marshall School. Dr. Kay has also chaired and spoken at numerous tech, education, business, and leadership conferences, and taught entrepreneurship programs at various universities.Dr. Kay’s achievements have been recognized with numerous awards, including the Education Award from After-School All-Stars and the Humanitarian Award from International Medical Corps. She was named Woman of the Year by the California Legislature, Rising Asian Woman by the World Affairs Council, and was a finalist for Entrepreneur of the Year by Ernst & Young.Dr. Kay received her joint doctorate degree in Work-based Learning Leadership from the University of Pennsylvania. She holds an MBA from the University of Southern California and a Master of Science degree in education from the University of Pennsylvania.With the addition of Dr. Kay, there are nine members of the MannKind Board of Directors.About MannKind Corporation MannKind Corporation (NASDAQ: MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with diseases such as diabetes and orphan lung diseases. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, the Company’s first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties detailed in MannKind's filings with the SEC. For a discussion of these and other factors, please refer to MannKind’s annual report on Form 10-K for the year ended December 31, 2019 as well as MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.Company Contact: 818-661-5000 ir@mannkindcorp.com

  • MannKind Receives Fourth $12.5 Million Milestone Payment from United Therapeutics
    GlobeNewswire

    MannKind Receives Fourth $12.5 Million Milestone Payment from United Therapeutics

    WESTLAKE VILLAGE, Calif., Nov. 19, 2020 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) today announced that it has achieved the final development milestone under its licensing and collaboration agreement with United Therapeutics for the development and commercialization of a dry powder formulation of treprostinil. Treprostinil Technosphere (“TreT”) is an investigational product currently being evaluated in clinical trials for the treatment of pulmonary arterial hypertension (PAH). All current clinical trials are now fully enrolled, including the BREEZE study in patients with PAH and a pivotal pharmacokinetics study in healthy subjects, both of which are being conducted by United Therapeutics, as well as a human factors study being conducted by MannKind. In addition, MannKind’s stability program for TreT has reached the milestone required for a regulatory filing.“We are looking forward to working with United Therapeutics during the first part of 2021 to prepare an FDA submission for TreT,” said Michael Castagna, Chief Executive Officer of MannKind.MannKind has now received all of the milestone payments that were specified in its agreement with United Therapeutics. MannKind remains entitled to receive low double-digit royalties on net sales of TreT. MannKind will also manufacture supplies of TreT for United Therapeutics and will earn a manufacturing margin.About MannKind Corporation MannKind Corporation (NASDAQ: MNKD) focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. MannKind is currently commercializing Afrezza® (insulin human) Inhalation Powder, the Company’s first FDA-approved product and the only inhaled ultra rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.Forward-Looking Statements This press release contains forward-looking statements that involve risks and uncertainties. Words such as "believes," "anticipates," "plans," "expects," "intends," "will," "goal," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties detailed in MannKind's filings with the SEC. For a discussion of these and other factors, please refer to MannKind’s annual report on Form 10-K for the year ended December 31, 2019 as well as MannKind’s other filings with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.Company Contact: 818-661-5000 ir@mannkindcorp.com