MNKD Chart
About

MannKind Corporation, a biopharmaceutical company, focuses on the provision of various solutions for transforming chronic disease care. It develops and commercializes treatments that address serious unmet medical needs, including diabetes, pulmonary hypertension, and fluid overload in heart failure and chronic kidney disease. It offers Afrezza inhalation powder, an inhaled insulin used to improve glycemic control in adults with diabetes; and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults. Its products also include Tyvaso DPI for the treatment of pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease; FUROSCIX, a furosemide injection to treat fluid buildup in patients with chronic heart failure or chronic kidney disease. The company's pipeline of treatments for orphan lung diseases include MNKD-201, a dry-powder formulation of nintedanib for the treatment of idiopathic pulmonary fibrosis and MNKD-701. It has collaboration and license agreement with United Therapeutics Corporation for development, regulatory, and commercial activities of Tyvaso DPI; and collaboration agreement with Thirona to evaluate the therapeutic for the treatment of pulmonary fibrosis. MannKind Corporation was incorporated in 1991 and is headquartered in Danbury, Connecticut.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 841.11M
Enterprise Value 1.14B Income 5.86M Sales 348.97M
Book/sh -0.17 Cash/sh 0.56 Dividend Yield
Payout 0.00% Employees 591 IPO
P/E 136.50 Forward P/E 12.00 PEG
P/S 2.41 P/B -16.45 P/C
EV/EBITDA 19.39 EV/Sales 3.27 Quick Ratio 1.41
Current Ratio 1.71 Debt/Eq LT Debt/Eq
EPS (ttm) 0.02 EPS next Y 0.23 EPS Growth
Revenue Growth 45.80% Earnings 2026-05-07 ROA 4.91%
ROE ROIC Gross Margin 74.79%
Oper. Margin -6.87% Profit Margin 1.68% Shs Outstand 308.10M
Shs Float 302.53M Short Float 8.43% Short Ratio 4.34
Short Interest 52W High 6.51 52W Low 2.52
Beta 0.93 Avg Volume 5.29M Volume 3.54M
Target Price $7.50 Recom Strong_buy Prev Close $2.77
Price $2.73 Change -1.44%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$7.50
Mean price target
2. Current target
$2.73
Latest analyst target
3. DCF / Fair value
$2.08
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$2.73
Low
$3.50
High
$10.00
Mean
$7.50

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-05 main Wedbush Outperform → Outperform $8
2026-02-27 down RBC Capital Outperform → Sector Perform $4
2026-02-27 main Wells Fargo Overweight → Overweight $7
2026-02-27 main HC Wainwright & Co. Buy → Buy $8
2026-02-25 reit HC Wainwright & Co. Buy → Buy $11
2026-01-26 reit HC Wainwright & Co. Buy → Buy $11
2025-11-24 init Truist Securities — → Buy $9
2025-11-11 main RBC Capital Outperform → Outperform $8
2025-11-11 main Wells Fargo Overweight → Overweight $8
2025-10-13 reit HC Wainwright & Co. Buy → Buy $11
2025-09-18 reit HC Wainwright & Co. Buy → Buy $11
2025-09-05 main Oppenheimer Outperform → Outperform $15
2025-09-03 main Wells Fargo Overweight → Overweight $10
2025-09-02 main HC Wainwright & Co. Buy → Buy $11
2025-08-26 main RBC Capital Outperform → Outperform $8
2025-08-07 main RBC Capital Outperform → Outperform $7
2025-07-25 reit HC Wainwright & Co. Buy → Buy $9
2025-07-23 main RBC Capital Outperform → Outperform $8
2025-04-10 init Mizuho — → Outperform $12
2024-12-20 init Wells Fargo — → Overweight $9
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 100000 259000 Purchase at price 2.59 per share. CASTAGNA MICHAEL E Chief Executive Officer 2026-03-10 00:00:00 D
1 12000 39240 Stock Award(Grant) at price 3.27 per share. SHANNON JAMES SAMUEL Director 2026-02-27 00:00:00 D
2 15290 49998 Stock Award(Grant) at price 3.27 per share. TROSS STUART A Officer 2026-02-27 00:00:00 D
3 15290 49998 Stock Award(Grant) at price 3.27 per share. CASTAGNA MICHAEL E Chief Executive Officer 2026-02-27 00:00:00 D
4 5000 16350 Stock Award(Grant) at price 3.27 per share. PRENTISS CHRISTOPHER B. Chief Financial Officer 2026-02-27 00:00:00 D
5 35000 114450 Stock Award(Grant) at price 3.27 per share. HOOPER ANTHONY C Director 2026-02-27 00:00:00 D
6 47006 297548 Sale at price 6.33 per share. TROSS STUART A Officer 2026-01-08 00:00:00 D
7 44171 Stock Gift at price 0.00 per share. CASTAGNA MICHAEL E Chief Executive Officer 2025-12-24 00:00:00 D
8 65804 299408 Conversion of Exercise of derivative security at price 4.55 per share. CASTAGNA MICHAEL E Chief Executive Officer 2025-12-17 00:00:00 D
9 65804 395482 Sale at price 6.01 per share. CASTAGNA MICHAEL E Chief Executive Officer 2025-12-17 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-2.97M-1.23M-438.06K0.00
TaxRateForCalcs0.210.100.210.00
NormalizedEBITDA65.67M88.49M21.20M-60.20M
TotalUnusualItems-14.16M-12.83M-2.09M3.88M
TotalUnusualItemsExcludingGoodwill-14.16M-12.83M-2.09M3.88M
NetIncomeFromContinuingOperationNetMinorityInterest5.86M27.59M-11.94M-87.40M
ReconciledDepreciation12.28M7.37M4.54M6.31M
ReconciledCostOfRevenue79.65M69.23M58.24M57.50M
EBITDA51.51M75.66M19.11M-56.32M
EBIT39.23M68.29M14.58M-62.63M
NetInterestIncome-29.98M-25.37M-19.01M-22.26M
InterestExpense37.82M37.77M24.95M24.77M
InterestIncome8.05M12.62M6.15M2.51M
NormalizedIncome17.05M39.18M-10.29M-91.28M
NetIncomeFromContinuingAndDiscontinuedOperation5.86M27.59M-11.94M-87.40M
TotalExpenses302.42M216.82M188.37M168.69M
TotalOperatingIncomeAsReported38.80M72.59M8.68M-64.11M
DilutedAverageShares314.11M283.84M267.01M257.09M
BasicAverageShares305.64M274.42M267.01M257.09M
DilutedEPS0.020.10-0.04-0.34
BasicEPS0.020.10-0.04-0.34
DilutedNIAvailtoComStockholders5.86M27.59M-11.94M-87.40M
NetIncomeCommonStockholders5.86M27.59M-11.94M-87.40M
NetIncome5.86M27.59M-11.94M-87.40M
NetIncomeIncludingNoncontrollingInterests5.86M27.59M-11.94M-87.40M
NetIncomeContinuousOperations5.86M27.59M-11.94M-87.40M
TaxProvision-4.46M2.93M1.56M0.00
PretaxIncome1.41M30.52M-10.38M-87.40M
OtherIncomeExpense-15.17M-12.80M-1.96M3.78M
OtherNonOperatingIncomeExpenses-1.01M32.00K122.00K-102.00K
SpecialIncomeCharges-6.41M-16.73M-170.00K0.00
OtherSpecialCharges20.44M17.20M
WriteOff6.41M1.55M170.00K0.00
ImpairmentOfCapitalAssets0.00106.00K
RestructuringAndMergernAcquisition0.00-5.26M0.000.00
GainOnSaleOfSecurity-7.75M3.91M-1.92M3.88M
NetNonOperatingInterestIncomeExpense-29.98M-25.37M-19.01M-22.26M
TotalOtherFinanceCost207.00K209.00K208.00K
InterestExpenseNonOperating37.82M37.77M24.95M24.77M
InterestIncomeNonOperating8.05M12.62M6.15M2.51M
OperatingIncome46.55M68.68M10.59M-68.92M
OperatingExpense214.46M140.22M125.60M111.19M
OtherOperatingExpenses339.00K
DepreciationAmortizationDepletionIncomeStatement3.97M0.000.00
DepreciationAndAmortizationInIncomeStatement3.97M0.000.00
Amortization3.97M0.000.00
AmortizationOfIntangiblesIncomeStatement3.97M0.000.00
ResearchAndDevelopment66.35M45.89M31.28M19.72M
SellingGeneralAndAdministration144.13M94.33M94.31M91.47M
SellingAndMarketingExpense51.78M53.75M45.53M
GeneralAndAdministrativeExpense42.54M37.72M31.89M
OtherGandA42.54M37.72M31.89M
GrossProfit261.01M208.90M136.19M42.27M
CostOfRevenue87.96M76.60M62.77M57.50M
TotalRevenue348.97M285.50M198.96M99.77M
OperatingRevenue402.92M339.30M255.39M99.77M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber307.83M302.96M270.03M263.79M
ShareIssued307.83M302.96M270.03M263.79M
NetDebt279.76M30.22M203.72M157.02M
TotalDebt367.44M50.12M272.62M278.83M
TangibleBookValue-443.32M-86.01M-249.17M-254.12M
InvestedCapital303.62M-42.77M22.53M22.95M
WorkingCapital120.55M186.47M269.27M167.60M
NetTangibleAssets-443.32M-86.01M-249.17M-254.12M
CapitalLeaseObligations12.80M14.07M3.92M5.34M
CommonStockEquity-51.02M-78.82M-246.17M-250.54M
TotalCapitalization267.34M-42.77M2.53M22.95M
TotalEquityGrossMinorityInterest-51.02M-78.82M-246.17M-250.54M
StockholdersEquity-51.02M-78.82M-246.17M-250.54M
GainsLossesNotAffectingRetainedEarnings115.00K1.11M0.000.00
OtherEquityAdjustments115.00K1.11M
RetainedEarnings-3.20B-3.20B-3.23B-3.22B
AdditionalPaidInCapital3.14B3.12B2.98B2.96B
CapitalStock3.08M3.03M2.70M2.64M
CommonStock3.08M3.03M2.70M2.64M
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest843.20M472.66M721.37M545.82M
TotalNonCurrentLiabilitiesNetMinorityInterest672.17M390.82M617.24M478.52M
OtherNonCurrentLiabilities303.15M291.97M294.77M161.95M
NonCurrentAccruedExpenses0.0056.00K55.00K404.00K
TradeandOtherPayablesNonCurrent55.00K404.00K
NonCurrentDeferredLiabilities39.98M51.16M69.79M37.68M
NonCurrentDeferredRevenue39.98M51.16M69.79M37.68M
LongTermDebtAndCapitalLeaseObligation329.05M47.70M252.62M278.83M
LongTermCapitalLeaseObligation10.69M11.64M3.92M5.34M
LongTermDebt318.36M36.05M248.70M273.49M
CurrentLiabilities171.03M81.84M104.12M67.30M
OtherCurrentLiabilities51.29M26.70M28.94M23.68M
CurrentDeferredLiabilities15.33M12.41M10.51M3.04M
CurrentDeferredRevenue15.33M12.41M9.09M1.73M
CurrentDebtAndCapitalLeaseObligation38.39M2.42M20.00M9.56M
CurrentCapitalLeaseObligation2.11M2.42M
CurrentDebt36.28M20.00M9.56M6.98M
OtherCurrentBorrowings36.28M20.00M9.56M6.98M
CurrentProvisions291.00K804.00K601.00K1.01M
PayablesAndAccruedExpenses65.73M39.50M44.07M39.57M
CurrentAccruedExpenses56.69M32.71M32.93M28.52M
InterestPayable2.15M303.00K2.15M2.20M
Payables9.03M6.79M11.14M11.05M
TotalTaxPayable49.00K1.56M0.00
IncomeTaxPayable49.00K1.56M0.00
AccountsPayable9.03M6.79M9.58M11.05M
TotalAssets792.18M393.84M475.20M295.28M
TotalNonCurrentAssets500.60M125.54M101.81M60.39M
OtherNonCurrentAssets20.87M27.49M7.43M9.72M
InvestmentsAndAdvances5.01M5.48M7.16M1.96M
InvestmentinFinancialAssets5.01M5.48M7.16M1.96M
HeldToMaturitySecurities7.16M1.96M56.62M
AvailableForSaleSecurities5.01M5.48M
GoodwillAndOtherIntangibleAssets392.29M7.20M3.00M3.58M
OtherIntangibleAssets324.70M5.26M1.07M1.15M
Goodwill67.59M1.93M1.93M2.43M
NetPPE82.42M85.36M84.22M45.13M
AccumulatedDepreciation-113.91M-106.68M-101.54M-98.56M
GrossPPE196.34M192.04M185.76M143.69M
ConstructionInProgress6.40M6.15M49.00M16.71M
MachineryFurnitureEquipment80.69M76.81M72.14M69.76M
BuildingsAndImprovements108.38M108.20M63.75M56.34M
LandAndImprovements875.00K875.00K875.00K875.00K
Properties0.000.000.000.00
CurrentAssets291.58M268.31M373.39M234.90M
OtherCurrentAssets46.55M31.36M34.85M25.48M
RestrictedCash0.00
PrepaidAssets3.48M
Inventory35.31M27.89M28.55M21.77M
FinishedGoods9.47M11.04M8.64M2.22M
WorkInProcess11.09M10.66M13.65M13.81M
RawMaterials14.76M6.18M6.26M5.74M
Receivables38.37M11.80M14.90M16.80M
AccountsReceivable38.37M11.80M14.90M16.80M
AllowanceForDoubtfulAccountsReceivable-13.60M-13.04M-8.84M-6.64M
GrossAccountsReceivable51.97M24.85M23.74M23.45M
CashCashEquivalentsAndShortTermInvestments171.35M197.26M295.10M170.85M
OtherShortTermInvestments96.46M150.92M56.62M101.08M
CashAndCashEquivalents74.88M46.34M238.48M69.77M
CashFinancial124.18M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow13.69M32.82M-8.35M-88.27M
RepaymentOfDebt0.00-133.17M-6.67M0.00
IssuanceOfDebt325.00M0.000.000.00
IssuanceOfCapitalStock0.000.006.89M19.79M
CapitalExpenditure-4.57M-9.69M-42.44M-7.59M
InterestPaidSupplementalData14.72M17.51M18.28M8.85M
IncomeTaxPaidSupplementalData1.71M4.26M0.00
EndCashPosition75.63M47.08M238.48M69.77M
BeginningCashPosition47.08M238.48M69.77M124.18M
ChangesInCash28.55M-191.40M168.71M-54.42M
FinancingCashFlow315.10M-137.27M136.61M21.39M
CashFlowFromContinuingFinancingActivities315.10M-137.27M136.61M21.39M
NetOtherFinancingCharges-11.89M-7.24M134.57M-1.17M
ProceedsFromStockOptionExercised1.99M3.14M1.82M2.77M
NetCommonStockIssuance0.000.006.89M19.79M
CommonStockIssuance0.000.006.89M19.79M
NetIssuancePaymentsOfDebt325.00M-133.17M-6.67M0.00
NetShortTermDebtIssuance-11.00M
ShortTermDebtPayments-11.00M
NetLongTermDebtIssuance325.00M-133.17M-6.67M0.00
LongTermDebtPayments0.00-133.17M-6.67M0.00
LongTermDebtIssuance325.00M0.000.000.00
InvestingCashFlow-304.80M-96.65M-1.99M4.87M
CashFlowFromContinuingInvestingActivities-304.80M-96.65M-1.99M4.87M
NetOtherInvestingChanges-10.00M396.00K382.00K
NetInvestmentPurchaseAndSale57.51M-86.96M40.45M27.80M
SaleOfInvestment215.31M193.84M119.55M107.34M
PurchaseOfInvestment-157.80M-280.80M-79.09M-79.54M
NetBusinessPurchaseAndSale-347.74M0.000.00-15.34M
PurchaseOfBusiness-347.74M0.000.00-15.34M
NetIntangiblesPurchaseAndSale0.000.00
PurchaseOfIntangibles0.000.00
NetPPEPurchaseAndSale-4.57M-9.69M-42.44M-7.59M
PurchaseOfPPE-4.57M-9.69M-42.44M-7.59M
OperatingCashFlow18.25M42.51M34.09M-80.68M
CashFlowFromContinuingOperatingActivities18.25M42.51M34.09M-80.68M
ChangeInWorkingCapital-50.88M-36.47M16.73M-24.05M
ChangeInOtherWorkingCapital-8.26M-15.31M39.46M14.10M
ChangeInOtherCurrentLiabilities-873.00K-4.98M-11.81M-9.02M
ChangeInOtherCurrentAssets-1.91M-3.57M263.00K523.00K
ChangeInPayablesAndAccruedExpense-18.42M-5.49M5.13M3.37M
ChangeInAccruedExpense3.26M-2.70M6.61M-723.00K
ChangeInInterestPayable0.000.00-4.92M
ChangeInPayable-21.68M-2.79M-1.47M4.10M
ChangeInAccountPayable-16.71M-2.79M-1.47M4.10M
ChangeInTaxPayable-4.97M0.000.00
ChangeInIncomeTaxPayable-4.97M0.000.00
ChangeInPrepaidAssets-10.03M-6.57M-7.32M-15.55M
ChangeInInventory-6.62M-3.20M-11.35M-5.67M
ChangeInReceivables-4.76M2.65M2.35M-11.81M
ChangesInAccountReceivables-4.76M2.65M2.35M-11.81M
OtherNonCashItems4.89M5.82M1.38M11.99M
StockBasedCompensation24.20M21.36M17.65M13.45M
AssetImpairmentCharge10.40M3.85M4.57M2.20M
AmortizationOfSecurities-2.65M-5.09M-925.00K707.00K
DepreciationAmortizationDepletion12.28M7.37M4.54M6.31M
DepreciationAndAmortization12.28M7.37M4.54M6.31M
Depreciation12.28M7.37M4.54M6.31M
OperatingGainsLosses14.16M18.09M2.09M-3.88M
GainLossOnInvestmentSecurities6.41M1.55M170.00K932.00K
NetForeignCurrencyExchangeGainLoss7.75M-3.91M1.92M-4.81M
GainLossOnSaleOfPPE565.00K0.000.00
NetIncomeFromContinuingOperations5.86M27.59M-11.94M-87.40M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for MNKD
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status