Key Developments: Mannkind Corp (MNKD.W)
5.18USD
17 May 2013
$0.02 (+0.39%)
$5.16
$5.17
$5.43
$5.17
3,027
6,926
$5.43
$1.59
Latest Key Developments (Source: Significant Developments)
Faruqi & Faruqi, LLP Launches Investigation Against Mannkind Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors
Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, announced that it is investigating the Board of Directors of MannKind Corp for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders’ approval of an amendment to the Company’s Amended and Restated Certificate of Incorporation. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on November 16, 2012, the Board of Directors recommends that Mannkind’s shareholders vote to approve an amendment to MannKind Corporation’s Amended and Restated Certificate of Incorporation to increase the authorized number of shares of common stock from 350,000,000 shares to 550,000,000 shares. The issuance of the additional shares could have a severe dilutive effect on the shares of Mannkind’s common stock Full Article
MannKind Corp Announces Proposed Public Offering Of Common Stock And Warrants
MannKind Corp announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock and warrants to purchase shares of its common stock in an underwritten public offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies & Company, Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering. Full Article
MannKind Corp And Tolero Pharmaceuticals Sign Collaboration And License Agreement To Develop and Commercialize BTK
MannKind Corp and Tolero Pharmaceuticals announced a license agreement granting Tolero exclusive worldwide rights to develop and commercialize compounds from MannKind’s BTK (Bruton’s tyrosine kinase) program, which are currently being developed for the treatment of hematological malignancies and inflammatory diseases. Under the terms of the agreement, Tolero will pay MannKind upfront and payments linked to the development, approval and commercialization of products, for total potential upfront and payments of approximately $130 million. MannKind will also receive tiered royalties on sales of products and a percentage of sublicensing revenue. In addition, MannKind has an option to re-acquire the rights to the program at pre-specified terms until 60 days after the conclusion of the first Phase I study. If MannKind exercises this option, then MannKind would assume responsibility for developing and commercializing products and Tolero would become entitled to receive the payments, royalties and sublicensing revenues specified in the agreement. Full Article
MannKind Corp Announces Exercise In Full Of Over-Allotment Option And Completion Of Public Offering Of Units Consisting Of Common Stock And Warrants To Purchase Common Stock
MannKind Corp announced the completion of an underwritten public offering of 35,937,500 units, including 4,687,500 units sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters (with each unit consisting of one share of its common stock and a warrant to purchase 0.6 of a share of its common stock). All of the securities were offered by MannKind at a combined price to the public of $2.40 per unit. The gross proceeds to MannKind from this offering were approximately $86.3 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by MannKind. The warrants are exercisable at $2.40 per share and expire four years from the date of issuance. The shares of common stock and warrants are immediately separable and were issued separately. MannKind anticipates using the net proceeds from the offering for general corporate purposes, including research and development expenses, capital expenditures, working capital and general administrative expenses. Jefferies & Company, Inc., Piper Jaffray & Co. and Cowen and Company, LLC acted as joint book-running managers for the offering. JMP Securities LLC acted as co-manager for the offering. Full Article
MannKind Corp Receives Commitment from The Mann Group to Acquire 31,250,000 Shares of Common Stock
MannKind Corp announced that it has entered into a purchase agreement with The Mann Group LLC, an entity controlled by MannKind’s chief executive officer and principal stockholder, Alfred E. Mann, for the sale of shares of its common stock to The Mann Group. The Mann Group has committed to purchase 31,250,000 restricted shares of MannKind’s common stock, the same number of shares as the number of units that are expected to be purchased in the concurrent public offering of MannKind’s common stock and warrants, which was initially announced on January 31, 2012. The shares to be purchased by The Mann Group will be priced at $2.47 per share. Full Article
MannKind Corp Announces Pricing of Public Offering of Units Consisting of Common Stock and Warrants to Purchase Common Stock
MannKind Corp announced the pricing of an underwritten public offering of 31,250,000 units, with each unit consisting of one share of its common stock and a warrant to purchase 0.6 of a share of its common stock. The shares of common stock and the warrants are being offered at a combined price to the public of $2.40 per unit. The gross proceeds to MannKind from this offering are expected to be $75.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by MannKind. The warrants will be exercisable at $2.40 per share and will expire four years from the date of issuance. The offering is expected to close on or about February 8, 2012, subject to customary closing conditions. MannKind anticipates using the net proceeds from the offering for general corporate purposes, including research and development expenses, capital expenditures, working capital and general administrative expenses. Jefferies & Company, Inc., Piper Jaffray & Co. and Cowen and Company, LLC are acting as joint book-running managers for the offering. JMP Securities LLC is acting as co-manager for the offering. Full Article
MannKind Corp Announces Proposed Public Offering Of Common Stock And Warrants To Purchase Common Stock
MannKind Corp announced that it intends to offer and sell, subject to market and other conditions, $50 million worth of units in an underwritten public offering, with each unit consisting of one share of MannKind’s common stock and a warrant to purchase 0.6 of a share of MannKind’s common stock. MannKind also intends to grant to the underwriters of the offering an option to purchase additional units to cover over-allotments, if any. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Jefferies & Company, Inc., Piper Jaffray & Co. and Cowen and Company, LLC are acting as joint book-running managers for the offering. Full Article
MannKind Corporation Announces Proposed Offering Of Senior Secured Discount Notes Due 2017
MannKind Corporation announced that it proposes to offer, 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. Full Article
MannKind Corporation To Pay $16 Million To Merck & Co., Inc. Unit-Reuters
Reuters reported that MannKind Corporation will pay $16 million to a unit of Merck & Co., Inc. to settle a dispute related to the termination of a supply agreement by the company. In a regulatory filing, MannKind said it will pay the settlement amount in two installments, each of which will be paid after receiving certain quantities of recombinant human insulin manufactured by Merck's unit Organon. Full Article
BRIEF-MannKind shares down 7.9 pct in premarket trading
NEW YORK, April 12 - Mannkind Corp : * Shares down 7.9 percent in premarket trading
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