0001193125-26-208910
SEC filingMannKind Corporation reported Q1 2026 total revenues of $90.2 million, up 15% from Q1 2025, but net loss of $16.6 million due to higher operating expenses from Furoscix promotion and acquisitions.
MannKind Corporation's Q1 2026 results reflect robust revenue growth to $90.2 million, a 15% increase from $78.4 million in Q1 2025, primarily driven by the inclusion of Furoscix net sales of $15.5 million following the scPharma acquisition on October 7, 2025, and higher royalties of $32.7 million from United Therapeutics' Tyvaso DPI sales. Afrezza contributed $15.3 million, up 3%, supported by an updated FDA label with starting dose guidance. However, the company swung to a GAAP net loss of $16.6 million or $(0.05) per share from prior-year profit, pressured by sharply higher expenses. Cost of goods sold rose 99% to $7.5 million due to lower-margin Furoscix, R&D increased 56% to $17.2 million from personnel and nintedanib DPI advancement, and SG&A surged 116% to $54.1 million amid Furoscix promotion, field team expansion, and Afrezza pediatric preparations. CEO Michael Castagna highlighted 2026 as the most catalyst-rich year, with Afrezza pediatric PDUFA on May 29 and Furoscix ReadyFlow Autoinjector PDUFA on July 26, potentially expanding market opportunities. Pipeline progress includes nintedanib DPI Phase 2 enrollment starting Q2 2026 and $5 million from United Therapeutics for ralinepag DPI, with up to $35 million more in milestones and 10% royalties possible. Balance sheet shows $134 million in cash and equivalents as of March 31, after settling $36.3 million convertible notes for $35.5 million cash and 569,023 shares, providing runway amid investments in launches.