MannKind Corporation announced it has raised approximately $50.0 million in gross proceeds through a private placement with institutional investors. The financing follows the U.S. Food and Drug Administration's (FDA) approval of the company's Furoscix ReadyFlow™ injection.
Key Details
- Financing: The company entered into a securities purchase agreement on July 23, 2026, to sell 10,440,838 shares of common stock at $3.89 per share and pre-funded warrants for 2,412,632 shares at $3.88 per warrant share.
- FDA Approval: On July 23, 2026, the FDA approved Furoscix ReadyFlow™ (furosemide injection) for the treatment of edema (fluid overload) in adults with heart failure or chronic kidney disease.
- Use of Proceeds: The company intends to use the net proceeds for general corporate purposes, including funding a $45.0 million contingent value rights (CVR) payment obligation that was triggered by the FDA approval.