MannKind (MNKD) Misses Q2 EPS by 1c

MannKind (NASDAQ: MNKD) reported Q2 EPS of ($0.07), $0.01 worse than the analyst estimate of ($0.06).

Cash and cash equivalents at June 30, 2016 were $63.7 million, compared to $27.7 million at March 31, 2016. In May 2016, the Company received net proceeds of $47.4 million upon completion of a registered direct public offering, $9.2 million from Sanofi for the sale of insulin inventory in connection with a contractual obligation upon termination of the Sanofi License Agreement, and $0.7 million from Connecticut as a Research & Development tax credit. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group along with $50.0 million available under the ATM facility.

For earnings history and earnings-related data on MannKind (MNKD) click here.

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