MANNKIND CORP MNKD

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

We are 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, we aim to deliver therapies designed to fit seamlessly into daily life.

Our cardiometabolic business is currently comprised of three commercial products: Afrezza (insulin human) Inhalation Powder; Furoscix (furosemide injection); and the V-Go wearable insulin delivery device:

•Afrezza is an ultra rapid-acting inhaled insulin indicated to improve glycemic control in adults with diabetes. Afrezza was developed by us and consists of a dry powder formulation of human insulin delivered from a small portable inhaler. Administered at the beginning of a meal, Afrezza dissolves rapidly upon inhalation to the lung and delivers insulin quickly to the bloodstream.

Last close 3.19 2026-10-23
Market cap $1.03B 2026-06-30 share count
52-week range 2.23 - 6.51

Valuation FY2025 figures against the last close

P/S2.9x
P/E159.5x
P/FCF74.9x
EV/EBITDA25.8x
Dividend yield—
Diluted EPS0.02

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $349.0M$285.5M$199.0M$99.8M$75.4M$65.1M$63.0M$27.9M$11.7M$174.8M
Cost of revenue $26.8M$17.4M$20.9M$16.0M$16.8M$15.1M$20.1M$19.4M$17.2M$17.1M
Gross profit $322.2M$268.1M$178.1M$83.8M$58.6M$50.1M$43.0M$8.5M-$5.5M$157.6M
SG&A $144.1M$94.3M$94.3M$91.5M$31.9M$24.7M$74.7M$79.7M$75.0M$46.9M
Total operating expenses $88.0M$76.6M$62.8M$57.5M$38.9M$24.6M$107.6M$104.5M$119.9M$107.5M
Operating income $38.8M$72.6M$8.7M-$64.1M-$47.0M-$47.9M-$44.6M-$76.6M-$108.2M$67.3M
Interest expense $13.8M$12.0M$15.2M$15.0M$15.2M—————
Pre-tax income $1.4M$30.5M-$10.4M-$87.4M-$80.9M-$57.5M-$51.9M-$86.7M-$117.3M$125.7M
Income tax $4.5M$2.9M$1.6M$0$0$218.0K$0$240.0K$51.0K$0
Net income $5.9M$27.6M-$11.9M-$87.4M-$80.9M-$57.2M-$51.9M-$87.0M-$117.3M$125.7M
EPS, basic 0.020.10-0.04-0.34-0.32-0.26—-0.60-1.131.37
EPS, diluted 0.020.10-0.04-0.34-0.32-0.26-0.27-0.60-1.131.36
Shares, diluted (wtd. avg.) 314.1M283.8M267.0M257.1M249.2M222.6M—144.1M104.2M92.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $74.9M$46.3M$238.5M$69.8M$124.2M$67.0M$29.9M$71.2M$43.9M$22.9M
Short-term investments $96.5M$150.9M$56.6M$101.1M$79.9M$0$20.0M———
Receivables $38.4M$11.8M$14.9M$16.8M$4.7M$4.2M$3.5M$4.0M$2.8M$302.0K
Inventory $35.3M$27.9M$28.5M$21.8M$7.2M$5.0M$4.2M$3.6M$2.7M$2.3M
Total current assets $291.6M$268.3M$373.4M$234.9M$219.5M$79.5M$60.8M$81.9M$57.2M$77.5M
Property, plant and equipment $82.4M$85.4M$84.2M$45.1M$36.6M$25.9M$26.8M$25.6M$26.9M$28.9M
Goodwill $67.6M$1.9M$1.9M$2.4M——————
Other intangibles $5.1M$5.3M$1.1M$1.2M——————
Total assets $792.2M$393.8M$475.2M$295.3M$321.2M$108.6M$93.7M$107.7M$84.6M$107.1M
Accounts payable $9.0M$6.8M$9.6M$11.1M$7.0M$5.6M$4.8M$5.4M$7.0M$3.3M
Total current liabilities $171.0M$81.8M$104.1M$67.3M$48.3M$73.7M$65.6M$75.2M$87.6M$92.1M
Long-term debt $354.6M$36.1M$268.7M$273.5M$281.2M$122.2M$118.9M$102.5M——
Total liabilities $843.2M$472.7M$721.4M$545.8M$530.5M$289.0M$284.3M$282.8M$299.3M$290.7M
Retained earnings -$3.20B-$3.20B-$3.23B-$3.22B-$3.13B-$3.05B-$2.99B-$2.94B-$2.85B-$2.74B
Total equity -$51.0M-$78.8M-$246.2M-$250.5M-$209.3M-$180.4M-$190.5M-$175.1M-$214.7M-$183.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $18.3M$42.5M$34.1M-$80.7M-$61.7M-$28.1M-$88.5M-$37.7M-$64.8M-$78.1M
Depreciation and amortisation $8.1M$7.3M$4.5M$3.3M$2.0M$1.8M$1.6M$1.7M$1.8M$2.4M
Stock-based compensation $24.2M$21.4M$17.6M$13.4M$12.2M$6.5M$6.2M$6.9M$4.8M$5.1M
Capital expenditure $4.6M$9.7M$42.4M$7.6M$11.5M$801.0K$2.6M$354.0K—$1.1M
Investing cash flow -$304.8M-$96.6M-$2.0M$4.9M-$151.5M$15.2M-$22.8M-$234.0K$16.7M-$1.1M
Financing cash flow $315.1M-$137.3M$136.6M$21.4M$270.3M$49.9M$69.9M$61.3M$73.6M$43.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-145613.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M Revenue, FY2016: 174.8M Gross profit, FY2016: 157.6M Net income, FY2016: 125.7M Revenue, FY2017: 11.7M Gross profit, FY2017: -5.5M Net income, FY2017: -117.3M Revenue, FY2018: 27.9M Gross profit, FY2018: 8.5M Net income, FY2018: -87M Revenue, FY2019: 63M Gross profit, FY2019: 43M Net income, FY2019: -51.9M Revenue, FY2020: 65.1M Gross profit, FY2020: 50.1M Net income, FY2020: -57.2M Revenue, FY2021: 75.4M Gross profit, FY2021: 58.6M Net income, FY2021: -80.9M Revenue, FY2022: 99.8M Gross profit, FY2022: 83.8M Net income, FY2022: -87.4M Revenue, FY2023: 199M Gross profit, FY2023: 178.1M Net income, FY2023: -11.9M Revenue, FY2024: 285.5M Gross profit, FY2024: 268.1M Net income, FY2024: 27.6M Revenue, FY2025: 349M Gross profit, FY2025: 322.2M Net income, FY2025: 5.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $174.8M $11.7M $27.9M $63.0M $65.1M $75.4M $99.8M $199.0M $285.5M $349.0M
Gross profit $157.6M -$5.5M $8.5M $43.0M $50.1M $58.6M $83.8M $178.1M $268.1M $322.2M
Net income $125.7M -$117.3M -$87.0M -$51.9M -$57.2M -$80.9M -$87.4M -$11.9M $27.6M $5.9M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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