MannKind Corporation reported a total revenue of $76.5 million for the three months ended June 30, 2025, marking a 6% increase from $72.4 million in the same period of the previous year. The revenue growth was driven by a 22% increase in royalty income, which rose to $31.2 million, compared to $25.6 million in the prior year. Commercial product sales also saw an 8% increase, reaching $22.5 million, up from $20.8 million. However, revenue from collaborations and services decreased by 12% to $22.8 million, down from $26.0 million, primarily due to reduced collaboration revenue from United Therapeutics.
In terms of profitability, MannKind reported a net income of $668,000 for the second quarter of 2025, a significant recovery from a net loss of $2.0 million in the same quarter of 2024. For the first half of 2025, the company achieved a net income of $13.8 million, compared to $8.6 million in the prior year. The improvement in net income was attributed to increased revenues and a reduction in costs associated with goods sold, which decreased by 18% in the second quarter.
Operationally, MannKind's total expenses increased by 28% to $71.2 million for the second quarter, driven by higher selling, general, and administrative expenses, which rose by 31% to $31.6 million. Research and development expenses also increased by 16% to $13.7 million, reflecting ongoing investments in clinical trials and product development. The company reported a loss on foreign currency transactions of $5.4 million, compared to a gain of $0.5 million in the prior year, primarily due to fluctuations in the Euro exchange rate.
MannKind's balance sheet showed total assets of $411.7 million as of June 30, 2025, an increase from $393.8 million at the end of 2024. The company had cash and cash equivalents of $57.0 million, up from $46.3 million at the end of the previous year. The total stockholders' deficit improved to $55.0 million from $78.8 million, reflecting the company's efforts to enhance its financial position. Looking ahead, MannKind anticipates continued growth driven by its product portfolio, including Afrezza and Tyvaso DPI, and plans to expand its pipeline of treatments for orphan lung diseases.
About MANNKIND CORP
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