Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
MannKind Corporation (NASDAQ:MNKD) announced on Thursday the departure of its Chief Medical (TASE:BLWV) Officer (CMO) and Executive Vice President of Research & Development, Burkhard Blank. According to the 8-K filing with the Securities and Exchange Commission, Blank and MannKind agreed on May 9, 2025, that he would step down from his executive role.
The company, which is incorporated in Delaware and headquartered in Danbury, Connecticut, disclosed that a transition and separation agreement was entered into on May 14, 2025. The agreement outlines that Blank will remain with MannKind as a non-executive employee until August 1, 2025, which will be his last day of employment. The company has demonstrated strong operational performance, with a 32.5% revenue growth in the last twelve months and a healthy gross profit margin of 74.62%.
Under the terms of the agreement, Blank will receive continued payment of his base salary for 13 weeks post-separation, until October 31, 2025. Additionally, he is set to receive a one-time special bonus of $386,000 in January 2026 and reimbursement for COBRA premiums until the end of the salary continuation period. Blank’s equity awards will also remain eligible for vesting during his continued employment.
This change in leadership comes during a period of continued focus and development for MannKind, which operates within the pharmaceutical preparations industry as indicated by its Standard Industrial Classification (SIC) code. The company’s securities are registered with The Nasdaq Stock Market LLC under the trading symbol MNKD.
The announcement of Blank’s departure and the details of his transition plan were made in compliance with the regulations of the Securities Exchange Act of 1934. The information regarding this corporate event is based on the official SEC filing by MannKind Corporation.
In other recent news, MannKind Corporation reported its first-quarter 2025 financial results, revealing a mixed performance. The company’s revenue exceeded expectations, reaching $78.35 million, marking an 18% year-over-year increase, driven by strong growth in Tyvaso DPI royalties and collaboration services. However, earnings per share (EPS) slightly missed forecasts, coming in at $0.04 compared to the anticipated $0.042. Despite the revenue growth, the stock price fell in pre-market trading, potentially reflecting investor concerns over the EPS miss. In terms of strategic growth, MannKind is preparing for the potential approval of pediatric Afrezza and anticipates continued growth in Tyvaso DPI royalties. Analysts from firms such as Leerink and Cantor have been inquiring about MannKind’s ongoing clinical trials and potential market opportunities, indicating interest in the company’s future developments. MannKind’s CEO, Michael Castagna, expressed optimism about the company’s trajectory, emphasizing its pipeline programs and market expansion efforts. The company continues to focus on its operational pipeline, manufacturing capabilities, and strategic initiatives to drive future growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.