MANNKIND CORP (MNKD) FY2025 10-K Annual Report

Filed: Feb 26, 2026
Health Care
Pharmaceutical PreparationsSEC EDGAR

MANNKIND CORP (MNKD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

MANNKIND CORP FY2025 10-K Analysis

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
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Management Discussion & Analysis

  • No revenue or profitability data provided in the overview section
  • Cardiometabolic segment consists of Afrezza, Furoscix, V-Go device with recent acquisition of scPharma in Oct 2025
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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
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MANNKIND CORP FY2025 Key Financial Metrics
XBRL

Revenue

$349M

+22.2% YoY

Net Income

$6M

-78.7% YoY

Operating Margin

11.1%

-1431bp YoY

Net Margin

1.7%

-798bp YoY

ROE

-11.5%

+2351bp YoY

Total Assets

$792M

+101.1% YoY

EPS (Diluted)

$0.02

-80.0% YoY

Operating Cash Flow

$18M

-57.1% YoY

Source: XBRL data from MANNKIND CORP FY2025 10-K filing on SEC EDGAR. All figures in USD.

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