MannKind Corporation (NASDAQ:MNKD) Files An 8-K Completion of Acquisition or Disposition of Assets


MannKind Corporation (NASDAQ:MNKD) Files An 8-K Completion of Acquisition or Disposition of Assets
Item 2.01 Completion of Acquisition or Disposition of Assets.

As previously reported in a Current Report on Form 8-K, filed by MannKind Corporation (the “Company”) on November 9, 2016 with the Securities and Exchange Commission, on November 9, 2016 the Company, Technosphere International C.V. and MannKind Netherlands B.V. entered into a settlement agreement with sanofi-aventis U.S. LLC (“Sanofi”). Under the settlement agreement, Sanofi agreed to, among other things, purchase $10.2 million of insulin from the Company by December 3, 2016 to the insulin put option of the supply agreement, dated August 11, 2014, by and between the Company and Sanofi.

The sale and purchase of the aforementioned $10.2 million of insulin to the terms of the settlement agreement was completed on December 2, 2016.

About MannKind Corporation (NASDAQ:MNKD)

MannKind Corporation is a biopharmaceutical company. The Company is focused on the discovery and development of therapeutic products for diseases, such as diabetes. Its product candidate is AFREZZA, which is an inhaled insulin used to control high blood sugar in adults with type I and type II diabetes and helps in glycemic control. AFREZZA consists of a dry formulation of human insulin delivered from a portable inhaler. AFREZZA utilizes its Technosphere formulation technology. Technosphere is a drug delivery platform that may allow the oral inhalation of a range of therapeutics. Technosphere powders are based on the Company’s fumaryl diketopiperazine (FDKP), which is a potential of Hydrogen (pH)-sensitive organic molecule that self-assembles into small particles under acidic conditions. The Company has also created a range of breath-powered, dry powder inhalers. Its inhalers can be produced in both a reusable (chronic treatment) and a single-use (acute treatment) format.

MannKind Corporation (NASDAQ:MNKD) Recent Trading Information

MannKind Corporation (NASDAQ:MNKD) closed its last trading session up +0.061 at 0.643 with 6,532,899 shares trading hands.