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Steven B. Binder, a director at MannKind Corp (NASDAQ:MNKD), a pharmaceutical company with a market capitalization of $1.39 billion and strong revenue growth of 32.5% over the last twelve months, recently executed a series of stock transactions involving the company’s common stock. On May 13, Binder sold 80,144 shares at a weighted average price of $4.69, amounting to $375,875. The sales were conducted under a pre-established Rule 10B5-1 trading plan.
In addition to the sales, Binder acquired 105,600 shares on May 10 as part of a previously reported restricted stock unit award. Furthermore, on May 12, he delivered or withheld a total of 93,871 shares to cover tax liabilities related to the vesting of restricted stock units, valued at $428,051 with an average price of $4.56 per share.
These transactions were recorded in a Form 4 filing with the Securities and Exchange Commission, providing transparency to investors and stakeholders.
In other recent news, MannKind Corporation reported its Q1 2025 financial results, revealing a notable increase in revenue that surpassed expectations, reaching $78.35 million, which marked an 18% year-over-year growth. This was driven by a 32% rise in Tyvaso DPI royalties and an 18% increase in collaboration and services revenue. However, the company experienced a slight shortfall in earnings per share (EPS), reporting $0.04 against the anticipated $0.042. Despite the revenue success, the EPS miss was a concern for investors.
Additionally, MannKind announced the departure of its Chief Medical (TASE:BLWV) Officer, Burkhard Blank, who will remain with the company as a non-executive employee until August 2025. The transition plan includes continued salary payments and a special bonus for Blank. In other developments, MannKind continues to focus on strategic growth initiatives and pipeline advancements, particularly in the areas of Tyvaso DPI and pediatric Afrezza. The company is also preparing for potential regulatory approvals that could further impact its revenue trajectory.
Analyst firms are closely monitoring these developments, with some expressing optimism about MannKind’s future growth prospects, particularly in the pediatric diabetes segment.
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