MannKind (NASDAQ:MNKD) Issues Quarterly Earnings Results

MannKind (NASDAQ:MNKD) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04), FiscalAI reports. The business had revenue of $111.96 million for the quarter, compared to analyst estimates of $99.85 million. MannKind had a negative return on equity of 49.33% and a net margin of 9.32%.The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS.

Here are the key takeaways from MannKind’s conference call:

• MannKind reported a record Q4 of $112M and full-year $349M, says the company is diversified beyond UT with a path to a >$450M revenue run rate in 2026 and expects >$350M in royalties over the next 36 months plus multi-year supply minimums supporting a revenue floor.
• The recently acquired FUROSCIX business accelerated in 2025 (Q4 net sales $23.3M, +91% YoY; FY $70.4M), the sales force doubled to ~160 reps, and a ReadyFlow Autoinjector PDUFA on July 26 could expand the market and lower COGS if approved.
• Afrezza posted Q4 net sales of $22.3M (FY $74.6M) and has a potential catalyst with a pediatric PDUFA on May 29, supported by new ADA guideline recognition of inhaled insulin and a label update showing a 58% reduction in 2‑hour postprandial excursions with the revised dosing.
• Management plans up to an additional $40M in commercial investments for 2026 and noted higher R&D/SG&A plus intangible amortization in COGS, which they expect to pressure 2026 margins before anticipated improvement in 2027.

MannKind Price Performance

NASDAQ:MNKD traded down $0.26 during mid-day trading on Thursday, reaching $3.24. The company’s stock had a trading volume of 33,282,716 shares, compared to its average volume of 4,399,389. The stock has a market cap of $994.91 million, a P/E ratio of 32.40 and a beta of 0.84. The company’s fifty day simple moving average is $5.61 and its two-hundred day simple moving average is $5.35. MannKind has a twelve month low of $2.93 and a twelve month high of $6.51.

Insider Transactions at MannKind

In other MannKind news, insider Stuart A. Tross sold 47,006 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $6.33, for a total transaction of $297,547.98. Following the transaction, the insider owned 985,007 shares of the company’s stock, valued at $6,235,094.31. This trade represents a 4.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Castagna sold 107,920 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $5.57, for a total transaction of $601,114.40. Following the sale, the chief executive officer directly owned 2,504,792 shares of the company’s stock, valued at $13,951,691.44. This represents a 4.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 262,846 shares of company stock valued at $1,546,840. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNKD. Caitong International Asset Management Co. Ltd grew its position in MannKind by 108.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,636 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 2,927 shares during the period. Lido Advisors LLC acquired a new position in shares of MannKind in the 4th quarter valued at about $63,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of MannKind during the 4th quarter worth about $70,000. Freestone Grove Partners LP acquired a new stake in MannKind during the 4th quarter worth approximately $80,000. Finally, Ameriprise Financial Inc. raised its holdings in MannKind by 45.1% in the third quarter. Ameriprise Financial Inc. now owns 17,055 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 5,300 shares during the period. Institutional investors and hedge funds own 49.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MNKD shares. Wall Street Zen upgraded MannKind from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of MannKind in a report on Thursday, January 22nd. Zacks Research lowered MannKind from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 10th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of MannKind in a research report on Wednesday. Finally, Leerink Partners assumed coverage on shares of MannKind in a report on Thursday, November 13th. They issued an “outperform” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.06.

MannKind News Summary

Here are the key news stories impacting MannKind this week:

• Positive Sentiment: Revenue and commercial momentum — Q4 revenue came in ~$112M, up ~46% year-over-year, with Furoscix net sales up ~91% and management outlining a ~$450M 2026 revenue run‑rate plus Afrezza pediatric launch plans as upcoming catalysts. Company Press Release Run‑rate / Afrezza article
• Positive Sentiment: Analyst support — HC Wainwright reaffirmed a Buy rating and an $11 price target, signaling upside potential for some investors. Analyst note
• Positive Sentiment: Bullish options activity — unusually large call buying was reported ahead of results, which can reflect institutional/speculative interest in upside. (No direct article link available.)
• Neutral Sentiment: Earnings call materials available — full Q4 2025 earnings call transcript and slide deck were published for investors to review management’s commentary and guidance. Earnings transcript
• Negative Sentiment: EPS miss / unexpected loss — MannKind reported a ($0.05) EPS vs. the consensus loss of ($0.01), an earnings miss that drove immediate downside despite the revenue beat. Why stock tumbled MarketWatch coverage
• Negative Sentiment: Market reaction and technicals — the Q4 miss pushed the shares to a 52‑week low and triggered heavy selling / elevated volume. 52‑week low report
• Negative Sentiment: Competitive risk — separate industry news that United Therapeutics is considering a new treprostinil formulation added pressure on related small‑cap biotech names, which may have weighed on sentiment. Competitive risk article

About MannKind

MannKind Corporation is a biopharmaceutical company specialized in the development and commercialization of inhaled therapeutic products. The company’s core business revolves around its proprietary Technosphere® drug‐delivery platform, which is designed to enable rapid absorption of small‐molecule drugs through pulmonary administration. MannKind’s lead product, Afrezza®, is an inhaled insulin therapy intended for adults with type 1 and type 2 diabetes, offering users a rapid‐acting alternative to traditional injectable insulins.

Afrezza received U.S.