--- title: "MannKind closes $50.0 million private placement led by Frazier Life Sciences" url: "https://aibio.space/news/mannkind-closes-50-0-million-private-placement-led-frazier-life/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-24" section: "Financings" tickers: "NASDAQ:MNKD" source: "https://www.sec.gov/Archives/edgar/data/899460/000119312526316041/d63182d8k.htm" summary: "MannKind sold 10,440,838 shares at $3.89 and pre-funded warrants for 2,412,632 shares at $3.88. The company names a $45.0 million contingent value rights p" --- By the aibio.space news desk. Sources - [MANNKIND CORP Form 8-K filed July 24, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/899460/000119312526316041/d63182d8k.htm) - [MANNKIND CORP exhibit d63182dex991.htm to the July 24, 2026 Form 8-K (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/899460/000119312526316041/d63182dex991.htm) - [MANNKIND CORP Form 10-K filed February 26, 2026: business overview and signatures (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/899460/000119312526073516/mnkd-20251231.htm) - [MannKind Corporation financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/899460/000119312526073516/) [MNKD](https://aibio.space/companies/mannkind/) 2026-07-24 # MannKind closes $50.0 million private placement led by Frazier Life Sciences Tickers [MNKD](https://aibio.space/companies/mannkind/) MannKind sold 10,440,838 shares at $3.89 and pre-funded warrants for 2,412,632 shares at $3.88. The company names a $45.0 million contingent value rights payment, triggered by an FDA approval, among the uses of the money. ## Key facts - **Company**: MannKind Corporation (NASDAQ: MNKD) - **News type**: Financings - **Primary source**: [MANNKIND CORP Form 8-K filed July 24, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/899460/000119312526316041/d63182d8k.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* MannKind Corporation (Nasdaq: [MNKD](https://aibio.space/companies/mannkind/)) closed a private placement on July 24, 2026 that brought in gross proceeds of approximately $50.0 million before expenses. The company signed the Securities Purchase Agreement the day before, on July 23, with institutional investors that its 8-K describes as accredited. MannKind sold 10,440,838 shares of common stock at $3.89 a share. Some investors took pre-funded warrants instead, for 2,412,632 shares of common stock at $3.88 a warrant share. The warrants have an exercise price of $0.01, do not expire until exercised in full, and can be exercised on a net, or cashless, basis. A holder may not exercise a warrant if that would push its beneficial ownership above a limit that cannot exceed 19.99%. ## Who is in the deal The press release says the placement was led by Frazier Life Sciences, which it calls "a longstanding biotech investment firm." Neither the 8-K nor the release names a placement agent, an underwriter or a financial advisor for the deal. Neither names legal counsel to the company or to the investors. The 8-K is signed by David Thomson, Ph.D., J.D., Executive Vice President, General Counsel and Secretary. ## What the money is for The company says it will use the net proceeds for general corporate purposes, including funding a $45.0 million contingent value rights payment. The 8-K ties that payment obligation to the U.S. Food and Drug Administration's approval of Furoscix ReadyFlow, which the agency granted on July 23, 2026 for the treatment of edema, or fluid overload, in adults with heart failure or chronic kidney disease. The gross proceeds are approximately $50.0 million before expenses. The 8-K does not say how much of the net amount will remain after the payment. ## Registration and dilution The shares and warrants were sold without registration under the Securities Act of 1933, relying on the exemption in Section 4(a)(2). The company agreed to file a registration statement with the Securities and Exchange Commission within 30 days of the July 24 closing, subject to certain allowable delays, to register the resale of the shares and the warrant shares. Once that registration is effective, the investors could resell those shares in the market. The filing does not give the number of common shares outstanding, so the size of the dilution to existing holders cannot be measured from the 8-K. ## The company's finances The 10-K filed February 26, 2026 shows that the company's 2025 net income fell to $5.9 million from $27.6 million in 2024. Research and development expense rose to $66.3 million from $45.9 million. Cash provided by operations dropped to $18.3 million from $42.5 million. Total revenues rose to $349.0 million from $285.5 million, with royalty income and product sales both higher. Furoscix sales began in the fourth quarter of 2025. The 10-K describes four products: Afrezza, Furoscix, V-Go and Tyvaso DPI. It says the company receives a 10% royalty on net sales of Tyvaso DPI, which would leave it with 9% if the company sells a 1% royalty on future net sales to a royalty purchaser. Its patent protection for Afrezza runs to 2032 at the longest. The same report lists the risks the company faces, including FDA actions affecting its products and the emergence of competing technologies. It lists a potential pediatric launch of Afrezza in 2026 and a potential Furoscix ReadyFlow Autoinjector launch in 2026. The annual report figures above do not include a year-end 2025 cash balance, so the cash left after the placement cannot be measured here. The press release says closing conditions were expected to be met on or about July 24, 2026. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story MNKD MannKind Corporation NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/mannkind-closes-50-0-million-private-placement-led-frazier-life/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "MannKind closes $50.0 million private placement led by Frazier Life Sciences", 2026-07-24, https://aibio.space/news/mannkind-closes-50-0-million-private-placement-led-frazier-life/