Categories Earnings, Health Care

MannKind (NASDAQ: MNKD): Q3 2019 Earnings Snapshot

— MannKind Corporation (NASDAQ: MNKD) reported a third-quarter 2019 loss of $0.05 per share versus a loss of $0.08 per share expected.

— The results were driven by increased total revenues from higher Afrezza commercial demand and from the licensing and research agreements with United Therapeutics.

Earnings Update by AlphaStreet

— Net revenues soared by 227% to $14.6 million versus $15.08 million expected.

— Afrezza net revenue jumped by 46% primarily driven by higher product demand, including the first shipment to Brazil, a more favorable mix of Afrezza cartridges and price.

— Collaborations and services revenue surged to $8.19 million from $82,000 last year, primarily driven by the license agreement with United Therapeutics, which began in the fourth quarter of 2018.

— Research and development (R&D) expense decreased by 23% year-over-year, primarily attributable to a decline in clinical trial spending.

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