MannKind Corporation has entered into a securities purchase agreement for a private placement expected to generate approximately $50 million in gross proceeds. The financing was led by Frazier Life Sciences, a longstanding biotech investment firm. MannKind is selling 10,440,838 shares of common stock and pre-funded warrants to purchase up to 2,412,632 shares, priced at $3.89 per share and $3.88 per pre-funded warrant. The company intends to use the net proceeds for general corporate purposes, including funding a $45 million contingent value rights payment triggered by the recent FDA approval of Furoscix ReadyFlow. The closing is expected on or about July 24, 2026, subject to customary conditions.
MannKind CorpDilutive private placement of shares and warrants, raising $50M but increasing share count.