MannKind hits double win on FDA approval of Furoscix Ready-to-Use and $50 million capital raise

MNKD Mannkind Corp

$4.23 +0.95%

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1. 1MannKind (MNKD) announced FDA approval of its self-administered Furoscix Ready-to-Use injector for heart failure and chronic kidney disease-related edema, sending shares up about 6%.
2. 2Along with the product, which delivers an 80 mg/mL dose within 10 seconds, the company revealed a $50 million private placement to institutional investors at $3.89 per share.
3. 3U.S. sales are set to begin by late August, and the proceeds will be used for general operating purposes, including the $45 million contingent value right (CVR) triggered by the approval.

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