MannKind Corp Files Q2 2024 10-Q
Ticker: MNKD · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 899460
| Field | Detail |
|---|---|
| Company | Mannkind CORP (MNKD) |
| Form Type | 10-Q |
| Filed Date | Aug 7, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, pharmaceuticals
TL;DR
MannKind's Q2 10-Q is in: financials and ops updates filed.
AI Summary
MannKind Corporation filed its 10-Q for the period ending June 30, 2024. The company reported financial results and provided updates on its business operations. Key financial figures and operational details are outlined within the filing, reflecting the company's performance during the second quarter of 2024.
Why It Matters
This filing provides investors with a detailed look at MannKind's financial health and operational progress for the second quarter of 2024, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, MannKind faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 20240807 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
Key Players & Entities
- MANNKIND CORP (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240807 (date) — Filing date
- Cipla Ltd (company) — Mentioned in relation to a license and distribution agreement
- Tyvaso DPI (product) — Mentioned in relation to a specific period
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 7, 2024.
What is MannKind Corporation's Standard Industrial Classification code?
MannKind Corporation's Standard Industrial Classification code is 2834, for Pharmaceutical Preparations.
Are there any specific agreements or entities mentioned in relation to MannKind?
Yes, the filing mentions a license and distribution agreement with Cipla Ltd, and refers to Tyvaso DPI.
What is the company's fiscal year end?
MannKind Corporation's fiscal year ends on December 31.
Filing Stats: 4,378 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-08-07 08:05:34
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share MNKD The Nasdaq Stock Mar
Filing Documents
- mnkd-20240630.htm (10-Q) — 3112KB
- mnkd-ex31_1.htm (EX-31.1) — 14KB
- mnkd-ex31_2.htm (EX-31.2) — 14KB
- mnkd-ex32_1.htm (EX-32.1) — 9KB
- mnkd-ex32_2.htm (EX-32.2) — 9KB
- 0000950170-24-092288.txt ( ) — 15080KB
- mnkd-20240630.xsd (EX-101.SCH) — 2449KB
- mnkd-20240630_htm.xml (XML) — 2790KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION 2
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 2 Condensed Consolidated Statements of Operations: Three and six months ended June 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss): Three and six months ended June 30, 2024 and 2023 3 Condensed Consolidated Balance Sheets: June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Stockholders' Deficit: Three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows: Six months ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 43
Controls and Procedures
Item 4. Controls and Procedures 43
: OTHER INFORMATION
PART II: OTHER INFORMATION 44
Legal Proceedings
Item 1. Legal Proceedings 44
Risk Factors
Item 1A. Risk Factors 44
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 73
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 73
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 73
Other Information
Item 5. Other Information 73
Exhibits
Item 6. Exhibits 74
SIGNATURES
SIGNATURES 75 1 PART 1: FINANCIA L INFORMATION
FINANCI AL STATEMENTS
ITEM 1. FINANCI AL STATEMENTS MANNKIND CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDAT ED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands except per share data) Revenues: Net revenue – commercial product sales $ 20,780 $ 18,345 $ 39,544 $ 35,907 Revenue – collaborations and services 26,014 11,211 50,862 22,597 Royalties – collaboration 25,592 19,055 48,243 30,733 Total revenues 72,386 48,611 138,649 89,237 Expenses: Cost of goods sold 5,605 5,224 9,424 10,754 Cost of revenue – collaborations and services 14,772 9,013 29,551 19,696 Research and development 11,816 6,453 21,829 12,058 Selling 11,495 14,002 23,096 27,312 General and administrative 12,617 11,947 23,345 22,489 (Gain) loss on foreign currency transaction ( 529 ) 251 ( 1,928 ) 1,205 Total expenses 55,776 46,890 105,317 93,514 Income (loss) from operations 16,610 1,721 33,332 ( 4,277 ) Other income (expense): Interest income, net 3,177 1,547 6,611 2,849 Interest expense on financing liability ( 2,444 ) ( 2,449 ) ( 4,891 ) ( 4,873 ) Interest expense ( 6,051 ) ( 6,873 ) ( 8,618 ) ( 9,659 ) Interest expense on liability for sale of future royalties ( 4,383 ) — ( 8,631 ) — (Loss) gain on available-for-sale securities ( 1,550 ) 932 ( 1,550 ) 932 Loss on extinguishment of debt ( 7,050 ) — ( 7,050 ) — Other expense — ( 143 ) — ( 32 ) Total other expense ( 18,301 ) ( 6,986 ) ( 24,129 ) ( 10,783 ) Income (loss) before income tax expense ( 1,691 ) ( 5,265 ) 9,203 ( 15,060 ) Income tax expense 323 — 587 — Net income (loss) $ ( 2,014 ) $ ( 5,265 ) $ 8,616 $ ( 15,060 ) Net income (loss) per share – basic $ ( 0.01