MannKind (MNKD) Announces $370M Senior Notes Offering
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MannKind Corporation (Nasdaq: MNKD) today announced that it proposes to offer, subject to market conditions, senior secured discount notes due 2017 (the “Notes”) expected to yield gross proceeds of approximately $370.0 million.
If the offering is consummated, the net proceeds from the offering of the notes would be used for development and operating capital, including completion of the Phase 3 clinical trials of MannKind’s lead product candidate, AFREZZA, preparing for commercialization of AFREZZA, continuing the build-out of MannKind’s Danbury, Connecticut manufacturing facility, ongoing research and development efforts, and general corporate purposes.
If the offering is consummated, the net proceeds from the offering of the notes would be used for development and operating capital, including completion of the Phase 3 clinical trials of MannKind’s lead product candidate, AFREZZA, preparing for commercialization of AFREZZA, continuing the build-out of MannKind’s Danbury, Connecticut manufacturing facility, ongoing research and development efforts, and general corporate purposes.
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