MannKind Announces Settlement of Convertible Senior Notes

Rhea-AI Summary

MannKind (Nasdaq: MNKD) announced settlement of the remaining $36.3 million aggregate principal amount of 2.50% convertible senior notes, all tendered for conversion prior to the March 1, 2026 maturity.

The company settled on March 4, 2026 using $35.5 million in cash and issuance of 569,023 shares of common stock.

Positive

• Convertible notes fully settled on March 4, 2026
• Cash component of settlement was $35.5 million

Negative

• Issuance of 569,023 shares increased outstanding shares, causing shareholder dilution
• Company used $35.5 million cash to settle notes, reducing cash resources

News Market Reaction – MNKD

-7.77%

23 alerts

-7.77% Session close to close

-3.4% Trough in 2 hr 34 min

$824.17M Market Cap

0.8x Rel. Volume

In the Mar 6 session, MNKD declined 7.77%, reflecting a notable negative market reaction. Argus tracked a trough of -3.4% from its starting point during tracking. Our momentum scanner triggered 23 alerts that day, indicating elevated trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved -7.8% in the session following this news. A negative reaction despite resolution of ...

Analysis

The stock moved -7.8% in the session following this news. A negative reaction despite resolution of the remaining $36.3M 2.50% convertible notes would fit a pattern where even positive fundamentals, such as recent revenue growth, have not always supported the share price. The use of $35.5M in cash plus 569,023 shares may raise concerns about cash deployment or dilution. With the stock already at a 52-week low of $2.83, past divergences suggest sentiment can overpower news tone.

Key Figures

Convertible notes principal: $36.3M Coupon rate: 2.50% Cash portion: $35.5M +3 more

6 metrics

Convertible notes principal $36.3M Remaining 2.50% convertible senior notes tendered before March 1, 2026 maturity

Coupon rate 2.50% Interest rate on convertible senior notes settled

Cash portion $35.5M Cash used to settle remaining convertible notes on March 4, 2026

Shares issued 569,023 shares MannKind common stock issued as part of note settlement

Maturity date March 1, 2026 Scheduled maturity for 2.50% convertible senior notes

Settlement date March 4, 2026 Date remaining convertible notes were settled

Historical Context

5 past events · Latest: Mar 04 (Neutral)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 04	Investor conferences	Neutral	+0.8%	Participation in two Miami investor conferences with CEO and CFO presentations.
Feb 26	Earnings update	Positive	-7.4%	Q4 and 2025 revenue growth with business update including acquisitions and PDUFA dates.
Feb 19	Conference appearance	Neutral	+1.6%	CEO presentation and business updates at Oppenheimer healthcare conference.
Feb 18	Earnings date notice	Neutral	-1.8%	Announcement of timing and webcast details for Q4 and full-year 2025 results.
Feb 09	Clinical study start	Positive	+2.3%	First patient enrolled in INHALE-1ST pediatric Afrezza study and PDUFA reminder.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent news has generally seen price moves that align with the underlying tone, with one notable divergence on strong earnings.

Recent Company History

Over recent months, MannKind reported strong growth, with Q4 and full-year 2025 revenues rising and detailed in filings on February 26, 2026. The company highlighted its cardiometabolic portfolio, Tyvaso DPI collaboration, and multiple 2026 FDA decision dates. Additional news covered conference participation and pediatric Afrezza trial progress. Against this backdrop of revenue expansion, pipeline advancement, and active investor outreach, today’s announcement focuses on settling the remaining $36.3M of 2.50% convertible senior notes using cash and shares.

Key Terms

convertible senior notes

1 terms

convertible senior notes financial

"announced the settlement of the remaining $36.3 million aggregate principal amount of 2.50% convertible senior notes"

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DANBURY, Conn. and WESTLAKE VILLAGE, Calif., March 05, 2026 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today announced the settlement of the remaining $36.3 million aggregate principal amount of 2.50% convertible senior notes, all of which were tendered for conversion prior to the maturity date of March 1, 2026. The settlement was made on March 4, 2026, with $35.5 million in cash and 569,023 shares of MannKind common stock.

About MannKind
MannKind Corporation (Nasdaq: MNKD) is a biopharmaceutical company dedicated to transforming chronic disease care through innovative, patient-centric solutions. Focused on cardiometabolic and orphan lung diseases, we develop and commercialize treatments that address serious unmet medical needs, including diabetes, pulmonary hypertension, and fluid overload in heart failure and chronic kidney disease.

With deep expertise in drug-device combinations, MannKind aims to deliver therapies designed to fit seamlessly into daily life.

Learn more at mannkindcorp.com.

MANNKIND is a registered trademark of MannKind Corporation.

MannKind Contacts:
Investor Relations
Kate Miranda
(617) 921-5461
Email: ir@mnkd.com

Media Relations
Christie Iacangelo
(818) 292-3500
Email: media@mnkd.com

FAQ

What did MannKind (MNKD) announce about its convertible senior notes on March 5, 2026?

MannKind said it settled the remaining convertible notes on March 4, 2026 using cash and stock. According to the company, the settlement covered $36.3 million principal with $35.5 million paid in cash and 569,023 shares issued.

How much cash did MNKD pay to settle the convertible senior notes and when was it paid?

MannKind paid $35.5 million in cash as part of the settlement on March 4, 2026. According to the company, this cash payment accompanied issuance of 569,023 common shares to complete the $36.3 million principal settlement.

How many MannKind (MNKD) shares were issued to settle the convertible notes?

The company issued 569,023 shares of common stock in the settlement completed March 4, 2026. According to the company, those shares plus $35.5 million in cash satisfied the $36.3 million aggregate principal amount.

Did the MNKD convertible note settlement occur before the maturity date?

Yes. All notes were tendered and converted prior to the March 1, 2026 maturity date and settled March 4, 2026. According to the company, the conversions happened before maturity and were completed with cash and shares.

What is the financial impact of MNKD settling $36.3 million of convertible notes for investors?

The settlement removes $36.3 million of convertible debt from the balance sheet and issues 569,023 shares. According to the company, investors see lower debt but modest dilution from the newly issued common shares.