MannKind Corporation Reports 2024 Third Quarter Financial Results and Provides Business Update
MannKind (MNKD) reported strong financial results for Q3 2024, with total revenues reaching $70 million, up 37% from Q3 2023. Year-to-date revenues reached $209 million, a 49% increase from the previous year. The growth was primarily driven by Tyvaso DPI revenues, with royalties increasing 34% to $27.1 million. Afrezza net revenue grew 12% to $15 million. The company achieved a net income of $20 million year-to-date and reported significant progress in clinical trials, including MNKD-101 Phase 3 expansion and successful completion of MNKD-201 Phase 1.
MannKind (MNKD) ha riportato risultati finanziari solidi per il Q3 2024, con un fatturato totale che ha raggiunto 70 milioni di dollari, in aumento del 37% rispetto al Q3 2023. Il fatturato da inizio anno ha raggiunto 209 milioni di dollari, un incremento del 49% rispetto all'anno precedente. La crescita è stata principalmente guidata dai ricavi di Tyvaso DPI, con le royalty che sono aumentate del 34% a 27,1 milioni di dollari. Il ricavo netto di Afrezza è cresciuto del 12% a 15 milioni di dollari. L'azienda ha raggiunto un utile netto di 20 milioni di dollari da inizio anno e ha riportato significativi progressi negli studi clinici, inclusi l'espansione della Fase 3 di MNKD-101 e il completamento con successo della Fase 1 di MNKD-201.
MannKind (MNKD) reportó resultados financieros sólidos para el Q3 2024, con ingresos totales alcanzando 70 millones de dólares, un aumento del 37% en comparación con el Q3 2023. Los ingresos acumulados hasta la fecha alcanzaron 209 millones de dólares, un incremento del 49% respecto al año anterior. El crecimiento fue impulsado principalmente por los ingresos de Tyvaso DPI, con regalías que aumentaron un 34% a 27,1 millones de dólares. Los ingresos netos de Afrezza crecieron un 12% a 15 millones de dólares. La compañía logró un ingreso neto de 20 millones de dólares hasta la fecha y reportó un progreso significativo en ensayos clínicos, incluyendo la expansión de Fase 3 de MNKD-101 y la finalización exitosa de Fase 1 de MNKD-201.
맨카인드 (MNKD)는 2024년 3분기 강력한 재무 결과를 보고하며, 총 수익이 7천만 달러에 달하고, 이는 2023년 3분기 대비 37% 증가한 수치입니다. 연초부터의 수익은 2억 9백만 달러에 도달하여, 전년 대비 49% 증가했습니다. 성장은 주로 타이바소 DPI 수익에 의해 주도되었으며, 로열티는 34% 증가하여 2천 7백 10만 달러에 달했습니다. 아프레자 순수익도 12% 증가하여 1천 5백만 달러에 도달했습니다. 회사는 연초 기준으로 2천만 달러의 순이익을 달성하였으며, MNKD-101 3상 확장 및 MNKD-201 1상의 성공적인 완성과 같은 임상 시험에서 중요한 진전을 보고했습니다.
MannKind (MNKD) a annoncé des résultats financiers solides pour le T3 2024, avec des revenus totaux atteignant 70 millions de dollars, soit une augmentation de 37 % par rapport au T3 2023. Les revenus cumulatifs depuis le début de l'année ont atteint 209 millions de dollars, une hausse de 49 % par rapport à l'année précédente. La croissance a été principalement tirée par les revenus de Tyvaso DPI, les redevances ayant augmenté de 34 % pour atteindre 27,1 millions de dollars. Les revenus nets d'Afrezza ont augmenté de 12 % pour atteindre 15 millions de dollars. L'entreprise a réalisé un bénéfice net de 20 millions de dollars depuis le début de l'année et a signalé des progrès significatifs dans les essais cliniques, y compris l'expansion de la Phase 3 de MNKD-101 et l'achèvement réussi de la Phase 1 de MNKD-201.
MannKind (MNKD) meldete starke Finanzergebnisse für das 3. Quartal 2024, mit einem Gesamtumsatz von 70 Millionen Dollar, was einem Anstieg von 37% gegenüber dem 3. Quartal 2023 entspricht. Der Umsatz bis zum heutigen Tag erreichte 209 Millionen Dollar, was einem Anstieg von 49% im Vergleich zum Vorjahr entspricht. Das Wachstum wurde hauptsächlich durch die Einnahmen von Tyvaso DPI getrieben, wobei die Lizenzgebühren um 34% auf 27,1 Millionen Dollar stiegen. Der Nettoerlös von Afrezza wuchs um 12% auf 15 Millionen Dollar. Das Unternehmen erzielte bis zum heutigen Tag ein Nettoeinkommen von 20 Millionen Dollar und berichtete über erhebliche Fortschritte in klinischen Studien, einschließlich der Erweiterung von MNKD-101 in Phase 3 und dem erfolgreichen Abschluss von MNKD-201 in Phase 1.
- Total revenues increased 37% YoY to $70M in Q3 2024
- YTD net income of $20M and non-GAAP net income of $45M
- Commercial product gross margin improved to 84% from 78% YoY
- Tyvaso DPI royalties increased 34% to $27.1M
- Afrezza net revenue grew 12% to $15M
- Cash position strong at $268.4M as of September 30, 2024
- V-Go revenue declined 6% YTD
- R&D expenses increased by $2.9M (29%) in Q3
- Loss on extinguishment of debt of $7.1M in 2024
- Loss on available-for-sale securities of $1.6M
Insights
Strong financial performance with
The balance sheet shows robust liquidity with
Pipeline developments show significant progress across multiple programs. Afrezza INHALE-3 delivered positive topline results with nearly double the success rate in A1C goal achievement. The pediatric INHALE-1 study is approaching completion with results expected Q4 2024. The expansion of MNKD-101's Phase 3 trial globally and successful completion of MNKD-201's Phase 1 trial with favorable safety profile indicate strong clinical momentum.
Conference Call to Begin Today at 4:30 p.m. (ET)
- 3Q 2024 Total revenues of
$70M ; +37% vs. 3Q 2023 - YTD 2024 Total revenues of
$209M ; +49% vs. YTD 2023 - YTD 2024 Net income of
$20 million ; Non-GAAP net income of$45 million - Orphan lung disease studies proceeding as planned
- MNKD-101 Phase 3 clinical trial expands globally
- MNKD-201 Phase 1 successfully completed; Plan to meet with FDA in 1H 2025
DANBURY, Conn. and WESTLAKE VILLAGE, Calif., Nov. 07, 2024 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today reported financial results for the quarter ended September 30, 2024.
“Our business demonstrated double-digit revenue growth compared to last year, led by Tyvaso DPI revenues,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “The third quarter has also been marked by strong progress in our clinical development programs, with enrollment underway in the Phase 3 trial of MNKD-101 to study its effect in NTM lung disease and successful completion of a Phase 1 trial of MNKD-201 for IPF. We also recently announced positive topline results from the Afrezza INHALE-3 post-marketing study and expect to announce topline data from the Phase-3 INHALE-1 pediatric study by year-end.”
Third Quarter 2024 Results
Revenue Highlights
| Three Months Ended September 30, | ||||||||||||||||
| 2024 | 2023 | $ Change | % Change | |||||||||||||
| (Dollars in thousands) | ||||||||||||||||
| Royalties – collaboration | $ | 27,083 | $ | 20,218 | $ | 6,865 | 34 | % | ||||||||
| Revenue – collaborations and services | 23,268 | 13,108 | $ | 10,160 | 78 | % | ||||||||||
| Net revenue – Afrezza | 15,035 | 13,476 | $ | 1,559 | 12 | % | ||||||||||
| Net revenue – V-Go | 4,693 | 4,451 | $ | 242 | 5 | % | ||||||||||
| Total revenues | $ | 70,079 | $ | 51,253 | $ | 18,826 | 37 | % | ||||||||
In the third quarter of 2024, compared to the same period in 2023:
- royalties for Tyvaso DPI® increased
$6.9 million , or34% , due to increased sales by United Therapeutics ("UT"); - collaborations and services revenue increased
$10.2 million , or78% , primarily attributable to an increase in manufacturing activities for Tyvaso DPI; - Afrezza® net revenue increased
$1.6 million , or12% , as a result of higher demand and improved gross-to-net adjustments; and - V-Go® net revenue increased
$0.2 million , or5% , as a result of improved gross-to-net adjustments and increased price, partially offset by lower product demand.
Commercial product gross margin in the third quarter of 2024 was
Cost of revenue – collaborations and services for the third quarter of 2024 was
Research and development ("R&D") expenses for the third quarter of 2024 were
Selling expenses were
General and administrative expenses were
Interest income, net, was
Interest expense on liability for sale of future royalties was
Interest expense on financing liability related to the sale-leaseback of our Danbury manufacturing facility was
Interest expense was
Gain on bargain purchase of
Nine Months September 30, 2024
Revenue Highlights
| Nine Months Ended September 30, | ||||||||||||||||
| 2024 | 2023 | $ Change | % Change | |||||||||||||
| (Dollars in thousands) | ||||||||||||||||
| Royalties – collaboration | $ | 75,326 | $ | 50,951 | $ | 24,375 | 48 | % | ||||||||
| Revenue – collaborations and services | 74,130 | 35,705 | $ | 38,425 | 108 | % | ||||||||||
| Net revenue – Afrezza | 45,762 | 39,427 | $ | 6,335 | 16 | % | ||||||||||
| Net revenue – V-Go | 13,510 | 14,407 | $ | (897 | ) | (6 | %) | |||||||||
| Total revenues | $ | 208,728 | $ | 140,490 | $ | 68,238 | 49 | % | ||||||||
For the nine months ended September 30, 2024, compared to the same period in 2023:
- royalties related to Tyvaso DPI increased
$24.4 million , or48% , due to increased sales by UT; - collaborations and services revenue increased
$38.4 million , or108% , primarily attributable to an increase in manufacturing activities for Tyvaso DPI; - Afrezza net revenue for the nine months ended September 30, 2024 increased
$6.3 million , or16% , primarily as a result of higher demand and price and improved gross-to-net adjustments; and - V-Go net revenue for the nine months ended September 30, 2024 decreased
$0.9 million , or6% , as a result of lower product demand, partially offset by improved gross-to-net adjustments and increased price.
Commercial product gross margin in the nine months ended September 30, 2024 was
Cost of revenue – collaborations and services for the nine months ended September 30, 2024 was
R&D expenses for the nine months ended September 30, 2024 were
Selling expenses were
General and administrative expenses for the nine months ended September 30, 2024 were
Interest income, net, was
Interest expense on liability for sale of future royalties was
Interest expense on financing liability related to the sale-leaseback of our Danbury manufacturing facility was
Interest expense was
Gain on bargain purchase of
Loss on available-for-sale securities for the nine months ended September 30, 2024 was
Loss on extinguishment of debt of
Cash, cash equivalents and investments as of September 30, 2024 were
Non-GAAP Measures
To supplement our condensed consolidated financial statements presented under U.S. generally accepted accounting principles ("GAAP"), we are presenting non-GAAP net income (loss) and non-GAAP net income (loss) per share - diluted, which are non-GAAP financial measures. We are providing these non-GAAP financial measures to disclose additional information to facilitate the comparison of past and present operations, and they are among the indicators management uses as a basis for evaluating our financial performance. We believe that these non-GAAP financial measures, when considered together with our GAAP financial results, provide management and investors with an additional understanding of our business operating results, including underlying trends.
These non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures; should be read in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP; have no standardized meaning prescribed by GAAP; and are not prepared under any comprehensive set of accounting rules or principles. In addition, from time to time in the future there may be other items that we may exclude for purposes of our non-GAAP financial measures; and we may in the future cease to exclude items that we have historically excluded for purposes of our non-GAAP financial measures. Likewise, we may determine to modify the nature of adjustments to arrive at our non-GAAP financial measures. Because of the non-standardized definitions of non-GAAP financial measures, the non-GAAP financial measures as used by us in this report have limits in their usefulness to investors and may be calculated differently from, and therefore may not be directly comparable to similarly titled measures used by other companies.
The following table reconciles our financial measures for net income (loss) and net income (loss) per share ("EPS") for diluted weighted average shares as reported in our condensed consolidated statements of operations to a non-GAAP presentation.
| Three Months | Nine Months | ||||||||||||||||||||||||||||||
| Ended September 30, | Ended September 30, | ||||||||||||||||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||||||||||||||||
| Net Income | Basic EPS | Net Income | Basic EPS | Net Income | Basic EPS | Net Loss | Basic EPS | ||||||||||||||||||||||||
| (In thousands except per share data) | |||||||||||||||||||||||||||||||
| GAAP reported net income (loss) | $ | 11,550 | $ | 0.04 | $ | 1,721 | $ | 0.01 | $ | 20,166 | $ | 0.07 | $ | (13,339 | ) | $ | (0.05 | ) | |||||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||||||||||
| Sold portion of royalty revenue(1) | (2,708 | ) | (0.01 | ) | — | — | (7,533 | ) | (0.03 | ) | — | — | |||||||||||||||||||
| Interest expense on liability for sale of future royalties | 4,089 | 0.02 | — | — | 12,720 | 0.04 | — | — | |||||||||||||||||||||||
| Stock compensation | 5,227 | 0.02 | 4,601 | 0.02 | 15,540 | 0.06 | 13,836 | 0.05 | |||||||||||||||||||||||
| Loss (gain) on foreign currency transaction | 2,454 | 0.01 | (2,065 | ) | (0.01 | ) | 526 | — | (860 | ) | — | ||||||||||||||||||||
| Gain on bargain purchase | (5,259 | ) | (0.02 | ) | — | — | (5,259 | ) | (0.02 | ) | — | — | |||||||||||||||||||
| Loss on extinguishment of debt | — | — | — | — | 7,050 | 0.03 | — | — | |||||||||||||||||||||||
| Loss (gain) on available-for-sale securities | — | — | — | — | 1,550 | 0.01 | (932 | ) | — | ||||||||||||||||||||||
| Non-GAAP adjusted net income (loss) | $ | 15,353 | $ | 0.06 | $ | 4,257 | $ | 0.02 | $ | 44,760 | $ | 0.16 | $ | (1,295 | ) | $ | (0.00 | ) | |||||||||||||
| Weighted average shares used to compute net income (loss) per share – basic | 274,998 | 268,732 | 272,811 | 266,126 | |||||||||||||||||||||||||||
__________________________
(1) Represents the non-cash portion of the
Clinical Development Update and Anticipated Milestones
Afrezza INHALE-3 (T1D, Afrezza vs. standard of care multiple daily injections or pumps) Phase 4 clinical trial
- Top-level 30-week results demonstrated that switching to or remaining on Afrezza allowed nearly twice as many people to get to the A1C (<
7% ) goal during the extension period - Additional data to be presented at Advanced Technologies and Treatments for Diabetes (ATTD) and other conferences in 1H 2025
Afrezza INHALE-1 Pediatric Phase 3 clinical trial
- Primary endpoint analysis results expected in 4Q 2024
- Six-month data with safety extension expected in 1H 2025
- FDA submission for label expansion planned in 2025
MNKD-101 (Clofazimine Inhalation Suspension) Phase 3 (ICoN-1) clinical trial
- Trial cleared to proceed in four countries (U.S., Japan, South Korea and Australia) with a fifth (Taiwan) expected in 4Q 2024
- First patient randomized in the US in 3Q
- Approximately 230 participants to be randomized at 100+ sites for a minimum of 180 evaluable participants
MNKD-201 (nintedanib DPI) Phase 1 clinical trial
- Trial successfully completed, primary objective met demonstrating positive safety results and was well-tolerated in healthy volunteers
- Participants did not experience adverse events typically reported with oral nintedanib
- Preclinical chronic toxicology did not show any adverse findings
- FDA End-of-Phase 1 meeting expected in 1H 2025
Conference Call
MannKind will host a conference call and presentation webcast to discuss these results today at 4:30 p.m. Eastern Time. The webcast will be accessible via a link on MannKind’s website. A replay will also be available in the same location within 24 hours after the call and accessible for approximately 90 days.
About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases.
We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation, depending on the target indication.
With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life.
Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, X or Instagram.
Forward-Looking Statements
Statements in this press release that are not statements of historical fact are forward-looking statements that involve risks and uncertainties. These statements include, without limitation, statements regarding the expected timing of patient enrollment and global expansion in a clinical study of MNKD-101; the expected timing for data read-outs from clinical studies of Afrezza; timing for an end-of-Phase 1 meeting with the FDA for MNKD-201; and the timing of a planned FDA submission for Afrezza. Words such as “believes,” “anticipates,” “plans,” “expects,” “intend,” “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, which include, without limitation, risks associated with developing product candidates; risks and uncertainties related to unforeseen delays that may impact the timing of clinical trials and reporting data; risks associated with safety and other complications of our products and product candidates; risks associated with the regulatory review process; and other risks detailed in MannKind’s filings with the Securities and Exchange Commission (“SEC”), including under the “Risk Factors” heading of its Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on February 27, 2024, and subsequent periodic reports on Form 10-Q. 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.
Tyvaso DPI is a trademark of United Therapeutics Corporation.
AFREZZA, MANNKIND, and V-GO are registered trademarks of MannKind Corporation.
| MANNKIND CORPORATION AND SUBSIDIARY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (In thousands except per share data) | ||||||||||||||||
| Revenues: | ||||||||||||||||
| Net revenue – commercial product sales | $ | 19,728 | $ | 17,927 | $ | 59,272 | $ | 53,834 | ||||||||
| Revenue – collaborations and services | 23,268 | 13,108 | 74,130 | 35,705 | ||||||||||||
| Royalties – collaboration | 27,083 | 20,218 | 75,326 | 50,951 | ||||||||||||
| Total revenues | 70,079 | 51,253 | 208,728 | 140,490 | ||||||||||||
| Expenses: | ||||||||||||||||
| Cost of goods sold | 3,197 | 3,995 | 12,621 | 14,749 | ||||||||||||
| Cost of revenue – collaborations and services | 14,826 | 10,259 | 44,377 | 29,955 | ||||||||||||
| Research and development | 12,926 | 9,989 | 34,755 | 22,047 | ||||||||||||
| Selling | 13,093 | 13,440 | 36,189 | 40,752 | ||||||||||||
| General and administrative | 10,823 | 10,538 | 34,168 | 33,027 | ||||||||||||
| Loss (gain) on foreign currency transaction | 2,454 | (2,065 | ) | 526 | (860 | ) | ||||||||||
| Total expenses | 57,319 | 46,156 | 162,636 | 139,670 | ||||||||||||
| Income from operations | 12,760 | 5,097 | 46,092 | 820 | ||||||||||||
| Other income (expense): | ||||||||||||||||
| Interest income, net | 3,179 | 1,580 | 9,790 | 4,429 | ||||||||||||
| Interest expense on liability for sale of future royalties | (4,089 | ) | — | (12,720 | ) | — | ||||||||||
| Interest expense on financing liability | (2,470 | ) | (2,459 | ) | (7,361 | ) | (7,332 | ) | ||||||||
| Interest expense | (1,801 | ) | (2,815 | ) | (10,419 | ) | (12,474 | ) | ||||||||
| Gain on bargain purchase | 5,259 | — | 5,259 | — | ||||||||||||
| Other income | 32 | 318 | 32 | 286 | ||||||||||||
| Loss on extinguishment of debt | — | — | (7,050 | ) | — | |||||||||||
| (Loss) gain on available-for-sale securities | — | — | (1,550 | ) | 932 | |||||||||||
| Total other expense | 110 | (3,376 | ) | (24,019 | ) | (14,159 | ) | |||||||||
| Income (loss) before income tax expense | 12,870 | 1,721 | 22,073 | (13,339 | ) | |||||||||||
| Income tax expense | 1,320 | — | 1,907 | — | ||||||||||||
| Net income (loss) | $ | 11,550 | $ | 1,721 | $ | 20,166 | $ | (13,339 | ) | |||||||
| Net income (loss) per share – basic | $ | 0.04 | $ | 0.01 | $ | 0.07 | $ | (0.05 | ) | |||||||
| Weighted average shares used to compute net income (loss) per share – basic | 274,998 | 268,732 | 272,811 | 266,126 | ||||||||||||
| Net income (loss) per share – diluted | $ | 0.04 | $ | 0.01 | $ | 0.07 | $ | (0.05 | ) | |||||||
| Weighted average shares used to compute net income (loss) per share – diluted | 284,693 | (1) | 323,770 | (1) | 281,407 | (1) | 266,126 | |||||||||
__________________________
(1) Diluted weighted average shares ("DWAS") differs from basic due to the weighted average number of shares that would be outstanding upon exercise or vesting of outstanding share-based payments to employees and conversion of convertible notes. For the three and nine months ended September 30, 2024 DWAS included and 9,695 and 8,596, respectively, shares of outstanding share-based payments. 44,120 shares issuable upon conversion of our Senior convertible notes were excluded as their effect would be antidilutive. For the three months ended September 30, 2023 DWAS included 7,548 shares of outstanding share-based payments, 44,120 shares issuable upon conversion of our Senior convertible notes, and 3,370 shares issuable upon conversion of our Mann Group convertible note.
| MANNKIND CORPORATION AND SUBSIDIARY CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| September 30, 2024 | December 31, 2023 | |||||||
| (In thousands except share and per share data) | ||||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 62,373 | $ | 238,480 | ||||
| Short-term investments | 189,215 | 56,619 | ||||||
| Accounts receivable, net | 18,184 | 14,901 | ||||||
| Inventory | 26,663 | 28,545 | ||||||
| Prepaid expenses and other current assets | 31,229 | 34,848 | ||||||
| Total current assets | 327,664 | 373,393 | ||||||
| Restricted cash | 735 | — | ||||||
| Long-term investments | 16,796 | 7,155 | ||||||
| Property and equipment, net | 85,339 | 84,220 | ||||||
| Goodwill | 1,931 | 1,931 | ||||||
| Other intangible assets | 5,313 | 1,073 | ||||||
| Other assets | 26,422 | 7,426 | ||||||
| Total assets | $ | 464,200 | $ | 475,198 | ||||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 6,444 | $ | 9,580 | ||||
| Accrued expenses and other current liabilities | 37,386 | 42,036 | ||||||
| Liability for sale of future royalties – current | 11,755 | 9,756 | ||||||
| Financing liability – current | 9,998 | 9,809 | ||||||
| Deferred revenue – current | 6,518 | 9,085 | ||||||
| Recognized loss on purchase commitments – current | — | 3,859 | ||||||
| Midcap credit facility – current | — | 20,000 | ||||||
| Total current liabilities | 72,101 | 104,125 | ||||||
| Senior convertible notes | 227,941 | 226,851 | ||||||
| Liability for sale of future royalties – long term | 137,140 | 136,054 | ||||||
| Financing liability – long term | 94,005 | 94,319 | ||||||
| Deferred revenue – long term | 65,150 | 69,794 | ||||||
| Recognized loss on purchase commitments – long term | 62,638 | 60,942 | ||||||
| Operating lease liability | 12,167 | 3,925 | ||||||
| Milestone liabilities | 2,813 | 3,452 | ||||||
| Financing lease liability | 171 | — | ||||||
| Midcap credit facility – long term | — | 13,019 | ||||||
| Mann Group convertible note | — | 8,829 | ||||||
| Accrued interest – Mann Group convertible note | — | 56 | ||||||
| Total liabilities | 674,126 | 721,366 | ||||||
| Stockholders' deficit: | ||||||||
| Undesignated preferred stock, | — | — | ||||||
| Common stock, | 2,753 | 2,700 | ||||||
| Additional paid-in capital | 2,995,974 | 2,980,539 | ||||||
| Accumulated other comprehensive income | 588 | — | ||||||
| Accumulated deficit | (3,209,241 | ) | (3,229,407 | ) | ||||
| Total stockholders' deficit | (209,926 | ) | (246,168 | ) | ||||
| Total liabilities and stockholders' deficit | $ | 464,200 | $ | 475,198 | ||||
FAQ
What was MannKind's (MNKD) revenue growth in Q3 2024?
How much did MNKD's Tyvaso DPI royalties increase in Q3 2024?
What was MNKD's cash position as of September 30, 2024?
What was MannKind's (MNKD) net income for the first nine months of 2024?
