Corporate ActionJul 24, 2026, 04:07 PM
MannKind Raises $50M in Private Placement; Furoscix FDA Approved
AI Summary
MannKind Corporation announced a private placement, raising approximately $50.0 million in gross proceeds by selling 10,440,838 shares of common stock and pre-funded warrants for 2,412,632 shares to institutional investors. The company intends to use the net proceeds for general corporate purposes, including funding a $45.0 million contingent value rights payment. This payment was triggered by the recent U.S. FDA approval of Furoscix ReadyFlow™ (furosemide injection) for edema treatment in adults with heart failure or chronic kidney disease.
Key Highlights
- MannKind raised approximately $50.0 million in gross proceeds from a private placement.
- Private placement included 10,440,838 common shares and 2,412,632 pre-funded warrants.
- Common shares sold at $3.89 each; pre-funded warrants at $3.88 per underlying share.
- Net proceeds will fund general corporate purposes, including a $45.0 million payment.
- Payment triggered by U.S. FDA approval of Furoscix ReadyFlow™.
- Furoscix ReadyFlow™ approved on July 23, 2026, for edema treatment.
- The private placement closed on July 24, 2026.
Price Impact
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