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Steven B. Binder, a director at MannKind Corp (NASDAQ:MNKD), sold 64,085 shares of the company on June 10, 2025, according to a recent SEC filing. The shares were sold at a weighted average price of $4.00, with prices ranging from $3.91 to $4.12, totaling $256,340. The transaction comes as the stock has experienced a nearly 10% decline over the past week, currently trading near its 52-week low of $3.89. According to InvestingPro analysis, the company appears undervalued at current levels. Following this transaction, Binder retains ownership of 925,258 shares in the company. The sale was conducted under a pre-established Rule 10B5-1 trading plan. Despite recent price weakness, MannKind maintains strong fundamentals with 32.5% revenue growth and a "GREAT" financial health score according to InvestingPro, which offers 11 additional valuable insights about the company’s prospects in its comprehensive Pro Research Report.
In other recent news, MannKind Corporation reported its Q1 2025 financial results, revealing a strong revenue performance with earnings that slightly missed expectations. The company’s revenue reached $78.35 million, surpassing forecasts and marking an 18% year-over-year increase, largely driven by a 32% rise in Tyvaso DPI royalties and an 18% increase in collaboration and services revenue. However, earnings per share (EPS) came in at $0.04, just below the anticipated $0.042, which may have contributed to investor concerns. Additionally, MannKind’s Chief Medical (TASE:BLWV) Officer, Burkhard Blank, announced his departure, with a transition plan in place that will see him remain as a non-executive employee until August 1, 2025.
The company is also actively involved in clinical trials, presenting findings from its INHALE-1 study on Afrezza, an inhaled insulin powder, at the American Diabetes Association’s Scientific Sessions. MannKind is planning to submit a Supplemental Biologics License Application for a pediatric indication of Afrezza in mid-2025. Furthermore, MannKind is preparing for potential approval of pediatric Afrezza and anticipates continued growth in Tyvaso DPI royalties.
The company is focusing on expanding its market share in the pediatric diabetes segment and is optimistic about the future, with CEO Michael Castagna highlighting the potential of its unique inhaled therapy platform. MannKind also outlined its ongoing strategic growth initiatives, including pipeline advancements and the pursuit of regulatory approvals.
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