MannKind is trading 6.2% higher at $4.13 in pre-market sessions, following an announcement of a private placement to certain institutional investors. The company expects to raise approximately $50 million in gross proceeds by selling 10,440,838 common shares and pre-funded warrants for up to 2,412,632 additional shares at $3.89 per share and $3.88 per pre-funded warrant. The net proceeds are intended for general corporate purposes, including funding a $45 million contingent value rights payment linked to the FDA approval of Furoscix ReadyFlow™.