Biopharma firm MannKind Q2 posts net loss on product launch expenses
MNKD•Outlook
- Company expects Furoscix ReadyFlow to be commercially available in late August
- MannKind says recent FDA approvals are expected to fuel near-term growth opportunities
- Company advancing Phase 2 study for nintedanib DPI in IPF patients
Overview
- US biopharma firm's Q2 revenue rose 43% yr/yr, driven by Furoscix and higher royalties
- Company posted a Q2 net loss as expenses rose on product launches and R&D
- FDA approvals for Afrezza pediatric use and Furoscix ReadyFlow autoinjector achieved in Q2
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Loss | $19.03 mln | ||
| Q2 Loss Per Basic Share | $0.06 | ||
| Q2 Operating Income | -$350,000 | ||
| Q2 Pretax Loss | $19.14 mln |
Result Drivers and analyst coverage
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FUROSCIX ADDITION - Revenue growth attributed to addition of Furoscix following scPharma acquisition
-
ROYALTY AND COLLABORATION REVENUE - Higher revenue from collaborations and services, and increased royalties from Tyvaso DPI
