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MannKind Corporation reports developments across its biopharmaceutical business in cardiometabolic and orphan lung diseases. Company updates center on commercial products such as Afrezza, an inhaled insulin for diabetes, and Furoscix, a furosemide injection for fluid overload in heart failure and chronic kidney disease, as well as financial results, product demand, launch infrastructure and capital-structure actions.
MannKind news also covers dry powder inhalation programs and drug-device combinations, including work using its Technosphere platform. Recurring topics include Afrezza clinical and real-world data, Furoscix device and regulatory updates, Nintedanib DPI for idiopathic pulmonary fibrosis, ralinepag DPI collaboration activity with United Therapeutics, and other pipeline decisions affecting inhaled therapies.
MannKind Corporation (NASDAQ:MNKD) reported 2Q 2020 Afrezza net revenue of $7.0 million, up 15% from 2Q 2019, contributing to a total revenue of $15.1 million. For 1H 2020, net revenue was $15.0 million, a 35% increase year-over-year. Gross profit surged 90% to $3.3 million, boosting gross margin from 29% to 47%. The company reported a net loss of $10.3 million, an improvement from $12.4 million in 2Q 2019. Cash reserves stood at $63.2 million. New Chief Commercial Officer Alejandro Galindo joined to enhance growth.
MannKind Corporation (NASDAQ: MNKD) will announce its 2020 second quarter financial results and provide corporate updates during a conference call scheduled for August 5, 2020, at 5:00 PM ET. The call will feature CEO Michael Castagna and CFO Steven Binder. Interested parties can access the live call via the company's website, with a playback option available for 14 days post-call.
MannKind is focused on developing inhaled therapies for diabetes and orphan lung diseases, highlighting its commercial product, Afrezza®.
MannKind Corporation (NASDAQ: MNKD) has announced its participation in the Lytham Partners Virtual Investor Growth Conference, scheduled for June 24, 2020, at 12 pm ET (9 am PT). CEO Michael Castagna will present during a virtual fireside chat. A webcast of the presentation will be available on MannKind's investor website. Additionally, management will engage in one-on-one meetings with institutional investors on the same day. MannKind is known for developing inhaled therapeutic products, including the FDA-approved Afrezza®, an inhaled insulin product.
MannKind Corporation (Nasdaq: MNKD) announced the presentation of new clinical data for Afrezza® (insulin human) Inhalation Powder at the American Diabetes Association’s 80th Scientific Sessions on June 13, 2020. The study, led by Dr. Mark Kipnes, highlighted a significant 0.8% reduction in A1C levels in patients switching from injected insulin to Afrezza over 14 weeks. Participants reported improved diabetes quality of life and maintained glucose levels within the target range. Afrezza is the only inhaled ultra-rapid-acting mealtime insulin available in the U.S.
MannKind Corporation (NASDAQ:MNKD) reported a strong first quarter of 2020 with net revenue of $8.0 million from Afrezza, marking a 58% increase from Q1 2019. Gross profit rose significantly to 48%, up from 21% in the previous year. Total revenues reached $16.2 million, but collaboration revenue declined by $4.2 million due to the end of a research agreement. The net loss narrowed to $9.3 million, or $0.04 per share, reflecting reduced operating expenses. Cash reserves decreased to $39.2 million amid $11.2 million in operating cash use.
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