MannKind Corporation (NASDAQ:MNKD), a biopharmaceutical company dedicated to transforming chronic disease care through innovative, patient-centric solutions for cardiometabolic and orphan lung diseases, today announced that it has entered into a securities purchase agreement in connection with a private placement to certain institutional investors. The gross proceeds from the private placement financing are expected to be approximately $50 million. The closing of the financing is expected to occur on or about July 24, 2026, subject to the satisfaction of customary closing conditions.

The private placement was led by Frazier Life Sciences, a longstanding biotech investment firm.

MannKind intends to use the net proceeds for general corporate purposes, including funding the $45 million contingent value rights payment triggered by the recent FDA approval of Furoscix ReadyFlow™.