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 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.
Mallinckrodt plc (OTCMKTS: MNKPF) announced the presentation of two scientific posters on hepatorenal syndrome (HRS) at the 2022 International Liver Congress in London. These studies focus on the effects of terlipressin, an investigational treatment for rapid kidney function decline associated with HRS. The research highlights early treatment benefits and explores gender differences in clinical responses. Mallinckrodt aims to enhance understanding of HRS management, crucial for approximately 30,000 to 40,000 Americans annually, with a grim prognosis if untreated.
Mallinckrodt plc (OTCMKTS: MNKKQ) announced findings from a retrospective study on Acthar Gel for refractory rheumatoid arthritis (RA), published in Drugs in Context. The study analyzed medical records of 63 patients and found that Acthar Gel treatment resulted in improved clinical outcomes, reduced concomitant medication prescriptions, and a significant decrease in the Clinical Disease Activity Index (CDAI) score. Most patients were on the recommended dosage for an average of 10.3 months. The results indicate the potential effectiveness of Acthar Gel for patients with high RA disease activity.
Mallinckrodt plc (OTCMKTS: MNKKQ) announced FDA approval for StrataGraft®, an allogeneic product for treating adults with deep partial-thickness burns requiring surgical intervention. This therapy aims to reduce autografting needs, addressing complications like pain and infection. Funded partly by $86 million from BARDA, StrataGraft's pivotal Phase 3 trial showed a 96% success rate in avoiding autografting. This approval represents a significant advancement in burn care, with plans for future studies in pediatric populations and full-thickness burns.
Mallinckrodt plc (OTCMKTS: MNKKQ) announced a restructuring support agreement with an ad hoc group holding approximately $1.3 billion of its first lien term loans. This agreement aims to resolve disputes between the company and lenders while extending debt maturities. The restructuring plan includes provisions such as an increase in LIBOR margin and a maturity extension until September 30, 2027. The company previously filed for Chapter 11 to handle opioid-related claims, with the restructuring expected to strengthen its financial position and reduce total debt.
Mallinckrodt plc (OTCMKTS: MNKKQ) has successfully reached an agreement with an ad hoc group of first lien term lenders holding approximately $1.3 billion of its outstanding loans to support its restructuring efforts. This agreement aims to replace existing loans and mitigate disputes related to the restructuring plan, effectively extending debt maturities. Furthermore, the restructuring plan targets an overall reduction in debt by roughly $1.3 billion to enhance the company's financial position and facilitate ongoing investments in new therapies and patient care.
Mallinckrodt plc announced results from post-hoc studies of its investigational agent terlipressin for adults with hepatorenal syndrome type 1 (HRS-1). Presented at Kidney Week 2020, the analysis included data from three Phase 3 trials, showing that terlipressin significantly reduced the need for renal replacement therapy (RRT) compared to placebo. At Day 90, 29% of terlipressin patients needed RRT, compared to 45% on placebo. Additionally, RRT-free survival was higher in terlipressin patients at 90 days (37% vs. 29%). Terlipressin's safety and efficacy are still pending FDA approval.