MNKD at a glance
MANNKIND CORP (MNKD, SEC CIK 899460) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 21, 2026 and Form 4 insider filings as recently as September 28, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), MANNKIND CORP (MNKD) reported revenue of $349.0 million (up 22.2% from FY2024) and net income of $5.9 million. Diluted EPS was $0.02.
- As of June 30, 2026, 30 institutional investment managers tracked by SignalX reported holding MANNKIND CORP (MNKD) shares worth $395.4 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Binder Steven B. on September 25, 2026 of 39,051 shares at $3.29 per share.
- In the last 90 days, MNKD insiders reported 0 open-market purchases ($0) and 5 open-market sales ($726K) on Form 4, a net sale of $726K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $349.0M
- +22.2% vs prior year
- Insiders · 90 days
- 0 buys · 5 sells
- Net −$726K
- 13F holders
- 30 funds
- $395.4M · +0 vs prior quarter
- Latest 8-K
- Aug 21, 2026
- Item 8.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: biopharmaceutical company focused on inhalation drug delivery and proprietary pulmonary technologies
- New emphasis: multiple amendments (up to seventh) to Commercial Supply Agreement with United Therapeutics Corporation in current year
- Strategic shift: continuation and expansion of collaboration and supply agreements rather than new product launches or segments
- Notable metric: numerous contract amendments in fiscal 2026, including the Seventh Amendment to Commercial Supply Agreement dated January 7, 2026
- Unusual fact: substantial focus in filing on detailed biographies of board members highlighting extensive pharma leadership experience
Risk Factors
- Regulatory risk: Inflation Reduction Act of 2022 limited insulin copays to $35/month for Medicare Part D starting 2023, pressuring Afrezza pricing and reimbursement
- Geopolitical risk: V-Go wholly manufactured in China, exposed to U.S.-China trade tensions and potential tariff changes affecting margins
- Operational risk: Single-source supplier of insulin for Afrezza from Amphastar, creating vulnerability to supply disruptions
- Competitive risk: United Therapeutics’ Tresmi with up to 90% less coughing may displace Tyvaso DPI, materially impacting royalty revenue
- Financial risk: scPharma acquisition funded by debt increased interest expense, leverage, and debt service requirements significantly
Management Discussion & Analysis
- Cardiometabolic segment consists of Afrezza, Furoscix, V-Go device with recent acquisition of scPharma in Oct 2025
- No forward-looking outlook, guidance, or emerging risks mentioned in the provided text
AI summary of the MNKD 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $109.4M, up 43% YoY from $76.5M, driven by commercial sales and collaborations
- Commercial gross margin 66% vs 79% YoY, with Furoscix carrying lower margins than Afrezza
- Best product Furoscix: $22.2M net revenue; worst V-Go: net revenue down $1.4M, or 33% YoY
- GAAP net loss $19.0M vs $0.7M net income YoY; non-GAAP net loss $2.7M vs $13.9M income
- New $325.0M term loans increased interest expense; management expects liquidity sources to meet needs over the next 12 months
Risk Factors
- Newly emphasized partner-concentration risk: United Therapeutics’ Tresmi plans and ralinepag DPI NDA could reduce Tyvaso DPI emphasis and royalties
- Most materially updated trade risk: tariffs may raise costs while fixed customer contracts delay pass-through up to 36 months
- Regulatory compliance risk: FDA inspection findings could require onerous corrective actions and suspend manufacturing
- Operational risk: V-Go depends on Chinese contract manufacturers despite limited duty-free treatment under HTSUS
- Financial risk: scPharma acquisition increased net debt, liquidity pressure, interest expense, leverage and debt-service requirements
AI summary of the MNKD 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Prospectus supplement filed August 21, 2026 under automatic shelf registration No. 333-285286
- Legal opinion supports potential issuance and sale of MannKind common stock
Item 2.02: Results of Operations and Financial Condition
- August 5, 2026 press release covers MannKind’s fiscal-year 2026 results
- Key financial figures and management commentary are contained in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q2 revenue $109.4M, up 43%, led by $22.2M Furoscix sales and $35.0M collaborations and services
- Afrezza sales fell 7% to $17.0M, while pediatric approval and early prescribing by 1 in 3 top-100 pediatric insulin writers support recovery potential
Item 3.02: Unregistered Sales of Equity Securities
- $50.0M gross private-placement proceeds from 10,440,838 shares and pre-funded warrants for 2,412,632 shares
- $45.0M proceeds earmarked for contingent value-rights payment triggered by FDA approval of Furoscix ReadyFlow
Item 8.01: Other Events
- FDA approval of Furoscix ReadyFlow for edema treatment in adults with heart failure or chronic kidney disease
- Expanded eligible patient population beyond heart-failure patients, potentially increasing commercial opportunity
Item EX-99.1: Item EX-99.1
- $50 million private placement led by Frazier Life Sciences, strengthening liquidity for corporate needs
- $45 million earmarked for contingent value rights payment following Furoscix ReadyFlow FDA approval
AI summaries of MNKD 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for MNKD
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Binder Steven B. | Sell | Sep 25, 2026 | 39,051 | $3.29 |
| Binder Steven B. | Sell | Sep 10, 2026 | 33,558 | $3.81 |
| Binder Steven B. | Sell | Aug 7, 2026 | 39,051 | $4.06 |
| Binder Steven B. | Sell | Jul 17, 2026 | 52,485 | $4.06 |
| Thomson David | Sell | Jul 17, 2026 | 24,109 | $4.05 |
| Singh Sanjay R | F | Jul 15, 2026 | 22,047 | $4.09 |
| Singh Sanjay R | M | Jul 15, 2026 | 70,550 | - |
| Singh Sanjay R | F | Jul 15, 2026 | 5,372 | $4.09 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $285.5M | $349.0M |
| Operating Income | - | $72.6M | $38.8M |
| Net Income | -$11.9M | $27.6M | $5.9M |
| Op. Margin | - | 25.4% | 11.1% |
| Net Margin | - | 9.7% | 1.7% |
| Balance Sheet | |||
| Total Assets | - | $393.8M | $792.2M |
| Equity | -$246.2M | -$78.8M | -$51.0M |
| ROE | 4.8% | -35.0% | -11.5% |
| Per Share | |||
| EPS | $-0.04 | $0.10 | $0.02 |
| Cash Flow | |||
| Operating CF | - | $42.5M | $18.3M |
| CapEx | $42.4M | $9.7M | $4.6M |
Source: XBRL data in MANNKIND CORP (MNKD)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate MNKD share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 30 | $395.4M |
| Q1 2026 | 30 | $255.7M |
| Q4 2025 | 27 | $537.4M |
| Q3 2025 | 29 | $495.6M |
| Q2 2025 | 31 | $354.7M |
| Q1 2025 | 27 | $329.0M |
| Q4 2024 | 23 | $342.2M |
| Q3 2024 | 20 | $181.9M |
- BlackRock+3.53M (+12%)
- AQR Capital Management+3.36M (+741%)
- FMR LLC (Fidelity)+620.1K (+18%)
- Wells Fargo & Co+615.9K (+72%)
- Vanguard Capital Management LLC+278.3K (+2%)
- Millennium Management−5.96M (-93%)
- Dimensional Fund Advisors−3.86M (-78%)
- State Street Corp−2.51M (-13%)
- Morgan Stanley−2.32M (-40%)
- Renaissance Technologies LLC−1.84M (-99%)
- Allstate+42.1K
Source: 13F-HR filings on SEC EDGAR (aggregated from 217 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
MNKD filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 28, 2026 | - | - | - |
| 4 | Sep 14, 2026 | - | - | - |
| 8-K | Aug 21, 2026 | - | Analysis | - |
| SC 13G | Aug 14, 2026 | - | - | |
| 4 | Aug 10, 2026 | - | - | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| SC 13G | Jul 31, 2026 | - | - | |
| 8-K | Jul 24, 2026 | - | Analysis | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 4 | Jul 17, 2026 | - | - | - |
| 8-K | Jun 2, 2026 | - | Analysis | |
| 8-K | May 28, 2026 | - | Analysis | |
| 8-K | May 22, 2026 | - | Analysis | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 22, 2026 | - | - |
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MNKD SEC filings: frequently asked questions
Are MNKD insiders buying or selling?
In the last 90 days, MANNKIND CORP (MNKD) officers, directors and 10% owners reported no open-market purchases and 5 open-market sales worth $725,611 by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold MNKD stock?
As of June 30, 2026, the largest MANNKIND CORP (MNKD) holders among the 13F filers tracked by SignalX were BlackRock ($136.9 million), State Street Corp ($68.9 million), Vanguard Capital Management LLC ($56.1 million), FMR LLC (Fidelity) ($17.5 million), AQR Capital Management ($16.2 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was MNKD's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), MANNKIND CORP (MNKD) reported revenue of $349.0 million (up 22.2% from FY2024) and net income of $5.9 million. Diluted EPS was $0.02. The figures come from the XBRL data in the 10-K.
What are the main risks in MNKD's latest 10-K?
In the 10-K filed February 26, 2026, MANNKIND CORP (MNKD) flagged: Regulatory risk: Inflation Reduction Act of 2022 limited insulin copays to $35/month for Medicare Part D starting 2023, pressuring Afrezza pricing and reimbursement. Geopolitical risk: V-Go wholly manufactured in China, exposed to U.S.-China trade tensions and potential tariff changes affecting margins. (AI summary of the Risk Factors section.)
What did MNKD report in its latest 8-K?
MANNKIND CORP (MNKD) filed an 8-K on August 21, 2026 reporting Item 8.01 (Other Events). Prospectus supplement filed August 21, 2026 under automatic shelf registration No. 333-285286.
What are the latest MNKD SEC filings?
MANNKIND CORP (MNKD) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 21, 2026 and a Form 4 insider filing on September 28, 2026.
What is MNKD's SEC CIK number?
MANNKIND CORP (MNKD)'s SEC Central Index Key (CIK) is 899460. EDGAR lists every MNKD filing under that number.
Ask anything about MNKD
The research agent reads MNKD's filings, financials, insider trades and 13F holders, then answers with sources.