MannKind (MNKD) Misses Q1 EPS by 2c

MannKind (NASDAQ: MNKD) reported Q1 EPS of ($0.06), $0.02 worse than the analyst estimate of ($0.04).

The Company’s portion of the loss sharing under the Sanofi License Agreement was $5.5 million for the first quarter of 2016. The total amount owed to Sanofi is currently $68.8 million, including accrued interest of $2.8 million.

Cash and cash equivalents at March 31, 2016 were $27.7 million, compared to $59.1 million at December 31, 2015. In February 2016, an upfront fee of $250,000 was received pursuant to the previously announced collaboration and license agreement with Receptor Life Sciences. In addition, $467,000 was received from exercises of stock options by employees. Currently, $30.1 million remains available for borrowing under the amended loan arrangement with The Mann Group. A recently filed universal shelf registration statement became effective along with a prospectus supplement for a $50.0 million ATM facility.

For earnings history and earnings-related data on MannKind (MNKD) click here.

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