AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
MannKind reported Q2 revenue of $109.4M (+43% YoY), driven by Furoscix contribution post-scPharma acquisition, but swung to net loss of $19.0M as SG&A expenses nearly doubled from acquisition integration.
Biggest Revenue Drivers
Commercial product sales$42.0M+87% YoY
Furoscix sales contributed $22.2M; Afrezza declined 7% YoY due to lower demand; V-Go declined 33% YoY.
Collaborations and services$35.0M+53% YoY
Increased manufacturing and product delivery to United Therapeutics; revenue from ralinepag DPI development activities.
Biggest Revenue Drivers
Total revenue: $109.4M+43% YoY
Commercial product sales$42.0M+87% YoY
Furoscix sales contributed $22.2M; Afrezza declined 7% YoY due to lower demand; V-Go declined 33% YoY.
Collaborations and services$35.0M+53% YoY
Increased manufacturing and product delivery to United Therapeutics; revenue from ralinepag DPI development activities.
Royalties$32.4M+4% YoY
10% royalty on Tyvaso DPI net sales; company retains 9% after 1% sale to royalty purchaser.
Largest Expense Items
Selling, general and administrative$58.3M+84% YoY
Expansion of field-based teams and promotional costs for Furoscix and pediatric Afrezza; scPharma integration costs.
Cost of goods sold – commercial$14.4M+213% YoY
Furoscix has lower gross margin than Afrezza; commercial product gross margin declined to 66% from 79%.
Research and development$18.0M+32% YoY
Development of Furoscix ReadyFlow Formulation, MNKD-201 enrollment, higher personnel costs post-scPharma.
Interest expense$11.9MSubstantial increase
$325M Blackstone term loan at 9.12% effective rate; $4.5M milestone interest on Afrezza sales achievement.
Margins: Commercial product gross margin declined to 66% in Q2 2026 from 79% in Q2 2025, driven by Furoscix's lower margin profile. Operating margin swung negative as SG&A expenses nearly doubled due to scPharma integration, product launches, and commercial expansion activities.
Watch Items from the Filing
United Therapeutics represents 61% of Q2 revenue; substantial exposure to UT's commercial decisions on Tyvaso DPI and emerging competitive products (Yutrepia, Tresmi).
CVR Milestone 1 achieved July 23, 2026 ($44.8M payout in Q3); remaining maximum CVR exposure $14.9M contingent on Furoscix/ReadyFlow sales thresholds by Dec 2026.
Company raised $50M in private placement (July 24, 2026) to fund CVR payment; dilution of 12.9M shares at $3.89/share reflects capital needs and stock pressure.
$325M Blackstone term loan matures Aug 2030; $40M minimum liquidity covenant; restricted covenant package limits M&A and dividend flexibility.
About MANNKIND CORP (MNKD): stock profile, AI score and financials
MANNKIND CORP (MNKD) stock profile, AI quality score, and SEC EDGAR financial data, a Healthcare sector company. 13F Pro's AI-powered ranking engine scores MNKD at 36.9/100 on a composite quality score built from its SEC filings, placing it at rank #2,251 of 2,925 stocks — the bottom half of the AI-ranked universe. MNKD scores in the top quartile across revenue growth (85.4). Areas of concern include institutional flow (17.4) and profitability (17.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 20.1/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), MANNKIND CORP reports quarterly revenue of $109.4M, net income of $-19.0M, an operating margin of -0.3%. MNKD trades on the Nasdaq exchange and files with the SEC under CIK 899460. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate MNKD daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for MANNKIND CORP directly from SEC EDGAR.