MannKind appoints Ajay Ahuja as chief medical officer

WESTLAKE VILLAGE, Calif. - MannKind Corporation (NASDAQ:MNKD), a $1.7 billion biopharmaceutical company that has delivered strong returns over the past three months according to InvestingPro data, has appointed Ajay Ahuja, MD, MBA, as its new Chief Medical Officer, effective Monday, the company announced in a press release.

Dr. Ahuja will report directly to CEO Michael Castagna and join the company’s executive leadership team. He brings more than two decades of biopharmaceutical industry experience, most recently serving as Development and Launch Leader for a late-stage DNA-based therapeutic at Kardigan Bio. The appointment comes as MannKind maintains robust financial health, with liquid assets exceeding short-term obligations and a healthy current ratio of 2.5x.

Prior to joining MannKind, Dr. Ahuja held senior leadership positions at Idorsia Pharmaceuticals, where he built the US Medical department, and at Allergan as Global Head of Medical Affairs. His experience also includes roles at Takeda Pharmaceuticals, where he led the cardiometabolic franchise, as well as positions at Pfizer, Novartis, and Tepha.

Dr. Ahuja earned his medical degree from Washington University School of Medicine and completed training at Northwestern University and Harvard Medical School. He is board-certified and practiced at Boston Children’s Hospital for over a decade. He also holds an MBA from Harvard Business School.

"I look forward to contributing to the company’s mission and helping shape the future of the organization and working to benefit patients," Dr. Ahuja stated in the release.

MannKind focuses on developing and commercializing inhaled therapeutic products for patients with endocrine and orphan lung diseases. The company utilizes dry-powder formulations and inhalation devices to deliver medicines directly to the lungs. With impressive revenue growth of 21.5% and a strong gross margin of 74.9%, MannKind has demonstrated solid operational execution. For deeper insights into MannKind’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.

In other recent news, MannKind Corporation reported second-quarter earnings that met profit expectations with adjusted earnings of $0.05 per share, aligning with analyst estimates. However, the company’s revenue fell short of expectations, coming in at $76.53 million compared to the anticipated $77.83 million, though it marked a 6% increase from the previous year’s $72.39 million. Meanwhile, MannKind announced its acquisition of scPharmaceuticals in a deal valued at up to $360 million, which includes FUROSCIX, a treatment for fluid overload. RBC Capital responded by raising its price target for MannKind to $8.00 from $7.00, maintaining an Outperform rating.

In another development, MannKind expanded its collaboration with United Therapeutics, receiving a $5 million upfront payment as part of an amended agreement to include an additional development product. H.C. Wainwright also raised its price target for MannKind to $11.00 from $9.00, maintaining a Buy rating, following United Therapeutics’ successful clinical trial results for Tyvaso in treating idiopathic pulmonary fibrosis. These developments indicate ongoing strategic moves by MannKind to strengthen its product portfolio and partnerships.

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