Welcome to our dedicated page for MNK news (Ticker: MNK), a resource for investors and traders seeking the latest updates and insights on MNK stock.
The MNK news page on Stock Titan aggregates company-issued updates and media coverage related to Mallinckrodt plc and its subsequent branded therapeutics identity, Keenova Therapeutics. Recent press releases describe Mallinckrodt as a global specialty pharmaceutical company with a Brands business focused on autoimmune and rare diseases and a Par Health business that includes generic drugs, sterile injectables and active pharmaceutical ingredients.
News items for MNK include announcements on corporate transactions, such as the completion of the merger between Mallinckrodt and Endo, Inc., and the spin-off of the combined generics and sterile injectables businesses under the Par Health name. These releases also explain that, moving ahead, Mallinckrodt will be known as Keenova Therapeutics, a branded therapeutics company focused on helping patients with rare or unaddressed conditions.
Investors and followers of MNK can find updates on financial results, including quarterly net sales and segment performance for Specialty Brands, Generics and Sterile Injectables as reported by the company. Other news covers developments in key branded products, such as Acthar Gel and XIAFLEX, as well as communications about clinical and medical affairs activities, including data presentations related to TERLIVAZ for hepatorenal syndrome.
Additional coverage includes leadership and governance announcements, such as board appointments and executive changes, along with guidance and commentary on the company’s strategy around its Brands and Par Health businesses. For users tracking MNK, this news feed provides a central view of the company’s own disclosures on its therapeutic focus, portfolio evolution, corporate structure and branded transition to Keenova Therapeutics.
Mallinckrodt reported a fourth-quarter net loss of $249.5 million, with net sales declining to $489.3 million, an 18.1% year-over-year decrease. The Specialty Brands segment saw a 19.3% drop in sales, while the Specialty Generics segment decreased by 15.6%. Despite challenges, including competition and a loss of revenue from Amitiza and Acthar Gel, the company enhanced its cash position to $409.5 million. Looking forward to 2023, Mallinckrodt anticipates total net sales between $1.700 billion and $1.820 billion, aiming for adjusted EBITDA of $510 million to $560 million. Key initiatives include the launch of Terlivaz and the appointment of a new Chief Scientific Officer.
Mallinckrodt plc (AMEX:MNK) announced that Siggi Olafsson, President and CEO, will present at Cowen's 43rd Annual Health Care Conference in Boston, MA, on March 7, 2023, at 2:50 p.m. Eastern Time. For those unable to attend in person, a webcast will be available, with a replay accessible after the event. Mallinckrodt, a global specialty pharmaceuticals company, focuses on areas such as autoimmune and rare diseases, including neurology and oncology. More details can be found on their website.
Mallinckrodt plc (NYSE American: MNK) announced it will report its fourth quarter 2022 earnings on February 28, 2023. The reporting period ends on December 30, 2022.
The company also plans a conference call for investors at 8:30 a.m. ET on the same day. This call will allow stakeholders to engage with the company's financial results.
Mallinckrodt specializes in pharmaceutical products, focusing on areas such as autoimmune and rare diseases.
Mallinckrodt plc (NYSE American: MNK) announced findings from a retrospective analysis showing that patients with baseline acute-on-chronic liver failure (ACLF) grade ≤2 treated with TERLIVAZ® plus albumin experienced a higher incidence of hepatorenal syndrome (HRS) reversal compared to those receiving placebo and albumin. The analysis included data from three Phase III studies and highlighted that terlipressin is the only FDA-approved treatment for HRS with rapid kidney function reduction. The data will be presented at SCCM 2023 in San Francisco on January 22, reinforcing the need for early intervention in critically ill patients.
Mallinckrodt plc (NYSE: MNK) has appointed Dr. Peter Richardson as Executive Vice President and Chief Scientific Officer, effective January 12, 2023. He brings over 30 years of pharmaceutical industry experience and will lead the company's R&D, medical affairs, safety, and regulatory affairs. Dr. Richardson succeeds Steven Romano, who left in December 2022. The company has approved an inducement equity award for Dr. Richardson, including 75,091 restricted and performance stock units, to support its portfolio expansion initiatives.
Mallinckrodt (NYSE American: MNK) announced the presentation of seven scientific abstracts on TERLIVAZ® (terlipressin) at the AASLD 2022 Liver Meeting, highlighting treatment outcomes for hepatorenal syndrome (HRS). The studies, showcasing clinical and economic outcomes, emphasize the company’s commitment to improving care for HRS patients. Notably, TERLIVAZ is the first FDA-approved therapy for HRS, significantly impacting kidney function. The meeting takes place in Washington, DC from November 4-8, 2022, presenting key findings that underline the urgent needs of HRS patients.
Mallinckrodt announced the presentation of three scientific abstracts on TERLIVAZ (terlipressin) at the ASN Kidney Week 2022, focusing on treatment for adults with hepatorenal syndrome (HRS) involving rapid kidney function reduction. Key findings indicate that initiating terlipressin treatment at lower serum creatinine levels can enhance the probability of avoiding renal replacement therapy. Mallinckrodt emphasizes its commitment to improving the care for critically ill patients, supported by over 70 studies on terlipressin worldwide. The event is scheduled for November 3-6 in Orlando, Florida.
Mallinckrodt plc has received approval to list its ordinary shares on NYSE American, with trading expected to commence under the ticker symbol MNK on October 27, 2022. This listing is part of the company's strategy to drive growth and enhance shareholder value. The President and CEO, Siggi Olafsson, emphasized the significance of this move in advancing therapies for underserved patients. The company will cease trading on the OTC Pink Current Market simultaneously with the NYSE American listing.
Mallinckrodt plc (OTCMKTS: MNKPF) has appointed Susan Silbermann to its Board of Directors effective October 5, 2022. This expansion brings the board to nine directors, with eight being independent. Susan, a seasoned global healthcare executive with extensive experience at Pfizer, will provide crucial insights as Mallinckrodt aims to enhance its operations and deliver innovative therapies. Her previous leadership roles include overseeing public health and managing Pfizer's COVID-19 task force, indicating her capability to drive growth and long-term value for shareholders.
Mallinckrodt (OTCMKTS: MNKPF) announced the FDA approval of Terlivaz (terlipressin), the first and only treatment for adults with hepatorenal syndrome (HRS) involving rapid kidney function reduction. This significant milestone brings a much-needed therapeutic option for critically ill patients requiring hospitalization. The approval is supported by the Phase 3 CONFIRM trial results, which demonstrated terlipressin's efficacy in improving kidney function and avoiding dialysis. Terlivaz is expected to launch in the U.S. soon, aiming to address a condition affecting 30,000-40,000 Americans annually.
