MannKind Corporation Earnings Recaps
Q1 2026
May 7, 2026
MannKind’s shares surged 24.1% following the quarter, driven by positive developments in its strategic partnership with United Therapeutics, clear regulatory progress for Afrezza Pediatrics, and encouraging early demand trends for FURO6 despite a seasonally soft Q1 revenue performance.
Key takeaways
- Q1 revenues rose 15% year-over-year to $90 million, now including FURO6 contributions, though seasonally impacted by deductible resets causing lower fills and dose-per-prescription declines (~20% for FURO6 vs Q4).
- The expanded agreement with United Therapeutics brought an immediate $5 million payment and potential milestones totaling $35 million plus royalties, signaling validation of MannKind’s Technosphere platform.
- FURO6 demand indicators were positive, with record prescriber counts and a nearly 60% increase in doses dispensed through April compared to last year, suggesting momentum ahead of the Q3 auto-injector launch.
- Integration of SC Pharma is substantially complete, with identified synergies already exceeding the initial $20 million annual target, strengthening the company’s commercial infrastructure.
- FDA approval of an updated Afrezza label now includes clear dosing guidance to support the upcoming pediatric launch, positioned as a key near-term catalyst with a PDUFA date set for May 29.
Q3 2025
Nov 6, 2025
MannKind Corporation reported a record revenue of $82 million in Q3 2025, driven by strong product performance and the recent acquisition of scPharmaceuticals, positioning the company for significant growth ahead.
Key takeaways
- Q3 2025 revenue reached $82 million, marking a record for the company, with Tyvaso DPI contributing $59 million in royalties and manufacturing revenue.
- The supplemental BLA for Afrezza was accepted for review, with a PDUFA date set for Q2 2026, highlighting potential pediatric market entry.
- FUROSCIX revenue grew by 95% year-to-date compared to 2024, with significant adoption, including over 27,000 doses dispensed in Q3, anticipated to reflect in Q4 results post-acquisition.
- The acquisition of scPharmaceuticals enhances MannKind's commercial scale and accelerates growth into cardiorenal medicine, targeting a substantial market opportunity in heart failure and chronic kidney disease.
- Afrezza prescription growth continued, with a 31% increase in new prescriptions year-over-year, despite a shift in focus towards type 1 diabetes.