MannKind completes acquisition of scPharmaceuticals

DANBURY/BURLINGTON - MannKind Corporation (NASDAQ:MNKD), a healthcare company with a market capitalization of $1.74 billion and strong financial health according to InvestingPro metrics, has completed its previously announced acquisition of scPharmaceuticals Inc., the company said Tuesday.

The deal adds FUROSCIX, a subcutaneous furosemide injection for treating edema in chronic heart failure and chronic kidney disease patients, to MannKind’s portfolio.

Based on Q2 2025 results, MannKind now reports an annualized revenue run rate exceeding $370 million from its combined commercial assets including Afrezza, FUROSCIX, V-Go, and Tyvaso DPI-related revenues. The company has demonstrated impressive revenue growth of 21.48% over the last twelve months, maintaining a robust gross profit margin of 74.91%.

"With the close of the acquisition, MannKind now has multiple revenue lines with strong growth potential, a deepening presence in cardiometabolic care, and a commercial infrastructure ready to support the next phase of growth," said Michael Castagna, Chief Executive Officer of MannKind Corporation, in a statement.

The transaction was structured as a tender offer at $5.35 per share in cash plus one non-tradable contingent value right per share worth up to an additional $1.00 upon achieving certain regulatory and sales milestones.

Approximately 73.47% of scPharmaceuticals’ outstanding shares were tendered, with notices of guaranteed delivery for an additional 10.91%. All conditions of the tender offer were satisfied, and scPharmaceuticals is now a wholly owned subsidiary of MannKind.

The acquisition integrates scPharmaceuticals’ team into MannKind’s existing infrastructure, combining MannKind’s endocrinology expertise with scPharmaceuticals’ cardiovascular capabilities.

Additionally, MannKind noted that the FUROSCIX ReadyFlow Autoinjector supplemental New Drug Application was submitted as planned in Q3 2025.

As of Tuesday, scPharmaceuticals’ common stock has ceased trading on the Nasdaq.

This article is based on a press release statement from MannKind Corporation.

In other recent news, MannKind Corporation has made several notable announcements. The company has expanded its collaboration with United Therapeutics, receiving $5 million upfront as part of an amended global license and collaboration agreement. This amendment allows MannKind to utilize its Technosphere platform for an additional development product. In a significant acquisition, MannKind is set to acquire scPharmaceuticals in a deal valued at up to $360 million, bringing FUROSCIX into its portfolio. This acquisition has prompted RBC Capital to raise its price target on MannKind to $8, maintaining an Outperform rating. Additionally, H.C. Wainwright increased its price target for MannKind to $11, following the success of Tyvaso in a clinical trial for idiopathic pulmonary fibrosis. In leadership changes, MannKind appointed Ajay Ahuja as its new Chief Medical Officer, who brings over two decades of experience in the biopharmaceutical industry. These developments reflect MannKind’s strategic moves in expanding its portfolio and leadership team.

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