MannKind Enters Material Definitive Agreement on Dec 27

TL;DR

**MannKind just inked a major deal, watch for details!**

AI Summary

MannKind Corporation filed an 8-K on January 2, 2024, reporting an "Entry into a Material Definitive Agreement" on December 27, 2023. This filing indicates that MannKind has entered into a significant contract or partnership, which could impact its future operations and financial performance. For investors, this matters because material agreements often involve new product development, distribution deals, or strategic alliances that can drive revenue growth or reduce costs, potentially increasing the stock's value.

Why It Matters

This filing signals a new, important business deal for MannKind, which could lead to new revenue streams or strategic advantages, directly affecting the company's financial outlook and stock performance.

Risk Assessment

Risk Level: medium — The filing indicates a material agreement but provides no details, creating uncertainty about its nature and potential impact, which could be positive or negative.

Analyst Insight

Investors should monitor MannKind's future filings and press releases for specific details regarding this 'Material Definitive Agreement' to assess its potential impact on the company's financials and strategic direction before making investment decisions.

Key Players & Entities

• MannKind Corporation (company) — registrant filing the 8-K
• December 27, 2023 (date) — date of the earliest event reported (entry into material definitive agreement)
• January 2, 2024 (date) — date the 8-K was filed
• 000-50865 (number) — Commission File Number for MannKind Corporation
• MNKD (company) — trading symbol for MannKind Corporation

Forward-Looking Statements

• MannKind will release more details about the material definitive agreement in a subsequent filing or press release. (MannKind Corporation) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MNKD The Nasdaq Stock Mar
• $150 m — n for the sale, Sagard paid the Company $150 million, less certain legal expenses, and
• $50 million — d a milestone payment as follows: (i) $50 million in the event that trailing 12-month net
• $1.9 billion — net sales of Tyvaso DPI equal or exceed $1.9 billion on or before December 31, 2026; or (i
• $45 million — regoing milestone event does not occur, $45 million in the event that trailing 12-month net
• $2.3 billion — net sales of Tyvaso DPI equal or exceed $2.3 billion on or before September 30, 2027. In t
• $3.5 billion — or net sales of Tyvaso DPI in excess of $3.5 billion in any calendar year. The Purchase Ag

Filing Documents

• d575512d8k.htm (8-K) — 28KB
• d575512dex991.htm (EX-99.1) — 308KB
• 0001193125-24-000161.txt ( ) — 520KB
• mnkd-20231227.xsd (EX-101.SCH) — 3KB
• mnkd-20231227_lab.xml (EX-101.LAB) — 17KB
• mnkd-20231227_pre.xml (EX-101.PRE) — 11KB
• d575512d8k_htm.xml (XML) — 3KB

01

Item 1.01 Entry Into a Material Definitive Agreement. On December 27, 2023, MannKind Corporation (the "Company") entered into a Purchase and Sale Agreement (the "Purchase Agreement") with Sagard Healthcare Funding Partners Borrower 2 SPE, LP ("Sagard") for the sale to Sagard of a 1% royalty on global net sales of Tyvaso DPI (treprostinil) inhalation powder ("Tyvaso DPI") occurring on and after October 1, 2023 through December 31, 2042 under the Company's License and Collaboration Agreement dated as of September 3, 2018, as amended (the "License Agreement"), with United Therapeutics Corporation. The Company will retain a 9% royalty on such sales. In consideration for the sale, Sagard paid the Company $150 million, less certain legal expenses, and the Company is entitled to receive from Sagard a milestone payment as follows: (i) $50 million in the event that trailing 12-month net sales of Tyvaso DPI equal or exceed $1.9 billion on or before December 31, 2026; or (ii) if the foregoing milestone event does not occur, $45 million in the event that trailing 12-month net sales of Tyvaso DPI equal or exceed $2.3 billion on or before September 30, 2027. In the event that the conditions for the milestone payment are not met, then the Company will not receive a milestone payment and Sagard will not be entitled to any portion of the royalties payable to MannKind for net sales of Tyvaso DPI in excess of $3.5 billion in any calendar year. The Purchase Agreement contains customary representations, warranties and agreements by the Company and Sagard, indemnification obligations of the parties and other obligations of the parties. The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Purchase Agreement, a copy of which is attached as Exhibit 99.1 to this report.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1# Purchase and Sale Agreement, dated December 27, 2023, by and between MannKind Corporation and Sagard Healthcare Funding Partners Borrower 2 SPE, LP 104 Cover Page Interactive Data File (embedded within the inline XBRL document) # Schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MannKind Corporation Date: January 2, 2024 By: /s/ David Thomson, Ph.D., J.D. Name: David Thomson, Ph.D., J.D. Title: Executive Vice President, General Counsel and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR