MNKD - Earnings call transcript Q1 2024

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Operator

Good afternoon, and welcome to the MannKind Corporation 2024 first quarter financial results earnings call.

As a reminder, this call is being recorded on May 8, 2024 and will be available for playback on the MannKind Corporation website shortly after the conclusion of this call until May 22, 2024. This call will contain forward-looking statements. Such forward-looking statements are subject to risks and uncertainties, which could cause actual risks to differ materially from these stated expectations.

For further information on the company's risk factors, please see their 10-Q report filed with the Securities and Exchange Commission this afternoon, their earnings release, and the slides prepared for this presentation.

MannKind Chief Executive and Financial Officer, Prentiss. from EVP Michael Chief today Christ former and Officer, us are Officer, Chief Castagna; Financial Joining Steven Binder; Mr. to conference I turn now like over would to the Castagna. Please go ahead, sir.

Michael Castagna

Good MannKind. I'm exceptional to call. XXth thrilled and evening, growth report for welcome everyone, of my earnings to quarter another

over team. a the dedication of and Over the revenue million our run to quarters, $XXX us has surged a of for testament our This revenue past eight by puts on over XXXX. XXX%, in innovation rate

diseases We around inhaled also have us joining driver will the be field with rare impact made tremendous journey today. this I'm and progress on lung societal progress growth to excited in world. continue Thank growth insulin the of our you for a come. addressing you believe for that to of share years we in to orphan

live of every about Just people and products the to at how patients into meaningful to is make to remind day. When our our everyone, a control impact health their it MannKind translates life. on we single give mission freedom that, think

being XXX to road to the well I. activate as by continue look Japanese made we to Therapeutics in expansion received trial pursue had strategic designation at but QX, light set sales DPI expect as record several authorities MNKD-XXX how the building Phase several get Tyvaso of green proceed and facility IND second $XX to in with advancements over we scale I been million the up to clinical QX approval two, Fast we've cleared on strong record Japanese down as also almost registration production half. due sites with to clearance also last Track a years.Number up As revenue we United the meet a the the the to

Change Healthcare. start [offset] that we diabetes with momentarily. business, the given In that are all going expect nicely had our to We things

look we financials, thank be we forward, want volume that the but the into we And at inhalation will $XX which year-over-year, ended and leverage look QX As X% are Steve us more I'll the you was work with and for all will that at as GAAP great area. as suspension, going growing comments has the moving behind we team MNKD-XXX and we to million say challenges on into a today. the discussion in as the believe On to into get above continue on previous go million as April, in detail, and provide million we're clofazimine reduce QX. income happened QX I into done we with quarter of cash, $X net we $XXX QX came promising

gearing we're and to the a for look at NTM product and opportunity As the we grow we to to think nebulizer be about be is Patients are world, players on key continuing a around version, the over believe next NTM we billion bring will the need new $X of over hopefully them worldwide. prevalence, developed years. suffering treatment up are and this this with solution. coming unmet and the exists part be two deck greatly, our When we this

will of really focuses in U.S. which our you be. unmet XX% As can chart, this the Japan, trial is clinical see need where and on roughly the sites

of Phase the X the are this who and expectations designation. month investigative X our on be our next between identified design and XX study about contracting hopes As We've here FDA for interest aligned already remind is QIDP about launch sites our the study having with design the by we'll you ICoN-X growing points, years and and patient exclusivity progressing, trial, I currently have want really meeting of end enroll the talk to to Phase with have orphan is with our our of I first we the shared the up gearing everybody as QX. process to here, we XX% co-primary to our that end

up forward continued and As approved harmonize fibrotic we you're call only in XXXX other our pipeline at looking look also it But to in do I This with XXXX. Ofev billion, an in is look look, we of the very is patients or and become to disease unmet at a you with PPF XXX. next for could because littered failure. this, two studying. IPF the when and done conditions $X pulmonary-related need and be $X.X diseases products you it's very, difficult believe, billion types When has over to treat

an with into the have have for do is completed but to looking this moving evolving look Phase We're an excited product in we're reason moving excited other tox we higher study best to roughly to inhaled dose version. the data. is forward at continue meet lungs will can these the we identifying with strongly we're data, we not you available. and the has this the that and getting an chronic next we currently Ofev products we same that our be the bleomycin that believe here specifically exciting into see slide, ways the time we'll forward published reduce this PD when may potentially an month. X success at inhaled Rat we're XX-day done chances in opportunity. the been landscape, version, into doses we're humans by first tox needs yet, the now So, patients can side this internal believe indicator we this can triangulate at could And and this and of oral look as effects the with get We is than the be compete study

business going I'm the endocrine on focus Now to unit.

grew on year-on-year Our X% business Afrezza. strength the endocrine of

January support we in July in decline look When we efforts dedicated directly as to doubled offset And V-Go, added force Afrezza. the transformed down, get As you faster. this by our you force ready we growth V-Go year. the last in Afrezza our V-Go. we at V-Go towards of look This and grow impacted to down resources footprint sales of year, our sales more can Afrezza has see was reduced to

as focus did added managers year in INHALE-X. show ready the starting and really we'll the that key and followed in to April gearing close of to and about should this new the of of that we get data as here we're closely QX. benefits field We're watch year-over-year, of see to trend We up X% up we the out excited the this support is as month continue we'll we things care, on this and against we could training we the we this of now the where to Afrezza release standards already for MDI QX study, medical pumps. of support, labor by went growth additional that on INHALE-X key or QX our trajectory. impact start account believe INHALE-X how Some Type-X AID the be head-to-head teams, restructuring fruits is our field be remind to is reimbursement whether that you,

centers, launch. baseline is includes not our dosing. also data to yet. and reason the best the in think the separately be has we here kids data continued And that we this conversion remaining people the dose as data the you and patients we didn't additional doctor data. the look we that got XX year. to and that's Figure here some And thing is that meal of [PEDS] a test insights XX-week cohort week first more get important for together now their versus X-months Conversion at switch almost round perceive focused to XXXX by and data progress -- FDA later a patients the as who been and approval we'll equal there'll and to on and XX because if utilizing to and interesting get we at second remind or hopefully, experience of followed week also X, another on be and presented doctors year titration the is this But the we XX make who a well at the expect time the secure depend for will decision just have more have study care, which as do in baseline for first see based switched goal continue to XX we round. which AID. standard by for or to new and weeks U.S. that as pediatric to are ready be efficacy switch the months patients, presented pediatric ATTD for later will we'll this update we a as around we that tolerance filed file this one beyond, data provide feedback an second INHALE-X want with the readout who which whether We upfront, which critical XX, going I'll it's of really understand is will We data, this do

opportunity the coming remind we over me growth decade. you the at Let that Afrezza for look

First, be continue will by we to know Type-X dominated GLPs.

which will set that Type-X the down So, last with believe to year. diabetes data in we diabetes against that we efforts continued double started head-to-head on us go for now out, are With INHALE-X, Type-X coming our we success competition. up

milestone children future, point. be and look critical with into the will we As that INHALE-X, pivot a

started and support and long-term to with we insulin that will good lot updated Steve for These of of I've reasons, gestational children, is I'm and As original going to diabetes data our the that of the initiatives With a that financials. around lots that generated. said, continue us will be some grow that turn getting gets which to said, Afrezza for it as attention have to be diabetes as whether Binder developed. over control. pumps more and strategic the always guidelines innovations Afrezza or [indiscernible] through these get interest outside now And control days finally, believe which most will walk of we CGM of is some

Steven B. Binder

by to XXXX consolidated in good and this the MD&A this financial Mike, select SEC review contained I'm results. statements afternoon. the first quarter filed XX-Q, condensed Thanks, with financial supplement which our Please and pleased is call reading afternoon.

of extended revenues the quarter first This of first our versus period revenue of growing eighth growth. consecutive total exceptional with revenue XXXX. XX% our was The growth, quarter streak quarter-on-quarter quarterly

table the which of Let's top million Tyvaso over XQ start quarter $XX XXXX. with growth a of the revenue, XX% DPI first generated in at royalties,

listened of resulted this which is from when growth call versus in severely first XX% product increased is change a net in to versus XXXX, innovative quarter $XX driving well lower increase. revenues. to quarter XX% strong impact primarily as card services growth source of ability in for semi-finished of estimate UT's revenue, of hitting for week, higher million last sold higher driven Afrezza price intrusion due services mainly as product UT by patient the XX% first DPI revenue of prescriptions. lower Collaboration a returns. year DPI to Healthcare in net of a XXXX, support Tyvaso UT to unit, gross of Afrezza party revenue Afrezza using pharmacies is versus percentage which of cyber a grew which If demand Included had the The earnings mainly a volume selling XXX% impacted Change units and for of level a completely Tyvaso of co-pay result which price kitting. interrupted in to royalty, on a first percentage average instead our fulfill the you production a was to third UT's February, higher our our $XX million based new revenues prior unfavorable SKUs quarter per an a DPI certain results or co-pay to activity, interruption net Tyvaso net and net with was the of sending

V-Go was growth $X down program XX% period focus XXXX basis the weeks. over first to XXXX, next to and by co-pay two of earnings on on shows from resulting lower demand and in of million Our first dropped focus share The volume mainly rolling on for growth revenue the X-quarter a the slide V-Go. quarter driven which is our of quarter approximately second in XXXX. a for quarter-by-quarter per source by transitioning quarter our profitability basic

quarter quarter DPI the sequentially versus For far by second the the bar, XXXX, XX% are which fourth quarter total sales quarter XXX% Tyvaso and of first the UT. of first XXXX of $XX is increased right-hand the XXXX, versus up million of revenues commercial

Our the where you dropping exceptional per line, as our bottom revenue basic the earnings to growth see we can share. is graph, and show loss quarterly below

third earnings the of per a the increase a income significant third and with was fourth income quarter quarters million $XX XXXX XXXX. positive which $X.XX net share, over straight and of net The first and quarter share, was of

to non-GAAP for loss $XX million, our on to portion $X to had on royalty net on sale adjusted first $XX select GAAP a $XX expense future for our noncash is items foreign or insulin interest currency of We compensation, which Moving year-on-year and of GAAP stock million. income reconciliation. gain which purchase This a revenue, non-GAAP net of of XXXX liability sold net for loss when of a produced the versus non-GAAP million related commitment improvement. transactions, is million quarterly income quarter royalties,

slide have and the quarter is fourth have not our out since the end to the see in earnings execute call, the from that we balance XXXX in our what million plan, priorities laid on sheet as green. of but plans of against at the highlighted On changed deploying This an discussed $XXX highest at update call, you year-end comments cash can I for priorities. as investments our begun the we

as behind to readouts, commercial that clinical our model from the the before Track opportunities clinical to whether see to with Phase X INHALE-X MNKD-XXX, FDA to move and possible.As Phase making will grow Afrezza. from and for faster Now to on these quickly X look results FDA as increase investment trial INHALE-X Afrezza and new and for we data we we with forward decision wait for and upcoming invest have behind to forward clearance MNKD-XXX, a intend clearance see trial to Fast move the executed them trials efficiently designation we

Moving that in debt structure our April. on to early changes in were executed

for of encumbrances higher then rate with by which We of backing debt. over First, interest debt we discharged conversion by an convertible rate the the trust and assets the extinguished By us the debt. dilution [X.XX%]. we debt, senior outstanding [indiscernible] cash converting and mid-cap the we're our shares our cost paid into that eliminating contractual cash, debt, off freed X.X million secured debt covenants million on associated paying which paid convertible expected debt of part had the shares while to remaining the X reduced the

in We range a cash believe was we also the per that as on in bargain this paid is $X.XX share severely see stock of company the price price undervalued. for a our

of XXXX senior exceptional March closer interest to the consecutive revenue of for evaluate growth, best as quarter a in and revenue is we income. our shareholders. to summarize, debt in million we eighth XX% intend recorded rate third what us of growth, total continue We we get To which quarter achieved We annual of revenues. quarter run the the $XX convertible our net net has do in to million $XXX on revenue income, consecutive maturity and over grew another year-over-year,

without with our share. the fund quarter million enter $X favorably in Our on to raise sheet earnings at growing tenure ended we deal, net impacted to debt than our BD into has to my stock, investments balance in quarter priorities sell and started is the a revenue when per being grow and or seven-year needing first income and used our We a cash allocation ability capital more MannKind.

now execute and you. our it back and a I'll continued who that strategy that existence over Thank this all is and can Mike, question. shareholders a was days to allowed team, has proud call, the support earnings last Board Mike. of. the those executive we MannKind the team when And to would As extended to be through turn my dark this us into our bright MannKind one I thank build supported company like future And the in MannKind

Michael Castagna

we our be trajectory can over the infrastructure increasing leverage see, revenue you shots are to with as continues on as the years. upswing coming And Steve. strong on you, goal continued Thank to our

a big without Steve, Let gotten me you done as we officially welcome couldn't Chris say and have to him. thank

Welcome seconds to So, a you've here everything few done. -- thank Steve, you Chris, you I'll give MannKind. for

Christopher Prentiss

Thanks, Mike.

highlighted incredibly is MannKind. this to our As an Steve you exciting just time join in and performance, quarterly reviewing

the positive decades the My lung I'm may undergone nearly revenue is notice with improving orphan The you and forward upon robust people focused with diabetes propel with growing conference. diseases. momentum engaging to focus as knew MannKind actually I ago transformation of company background, lives the Some on upcoming XX years my the team a company pipeline at a career two my expand from began with streams but remarkable where ago. working living biotech an has to of to and returning we look I forward. all I

Michael Castagna

look QX out half, and the potential talk the QX. in approval track you welcome in out MannKind.As all hit year in this We're so you, we've milestones and about India. There pretty to second one laid are clinical to hit Chris, for for we Thank laid there much at was on milestones really we the the XXXX, didn't back and about a I is thing excited review far India.

where look we to revenue look We million provide continue studies out requested, are some we do projections to XXXX. give continue they reading a revenue updates because XX,XXX expect well. but term progress DPI, production.UT proceeded world. now we knowledge today every and Ofev our clear. at $X.X updated in as meaningful a key is tremendous billion. point.As to to to as approval MNKD-XXX opportunity from to at you potentially for million in $XXX let the of market has as of around at happen launch authorization potential lot end that anticipated we to MNKD-XXX this is a roughly Tyvaso underway. public drivers, know at That's we covered for value help on submitting now year on the upside We'll patients of want do I our by you to We be that the with feedback look could people upside are $XXX we've that, looks

pediatrics know key, growth we'll the internationally. Afrezza that answer well later this combination of INHALE-X with as business, endocrine On as the continued and and we is believe year,

we of for that roughly look help because and us a with opportunity that we the market, pursued the that's at data which to continue see rapidly we world believe of coming. U.S. have communicate diabetes two-thirds sales people we three around one have more and XXXX I we beyond.As get tremendous over the to to As we and insulin, outside not I out for coming up opportunities this will at sets things time to year, shareholders, these set need look are

week. annual for here look again meeting as bring next try questions two will then key to next We which you. will meeting end end leaders We last shares for for that questions, I the followed ADA on CD be Thoracic can. them all via believe San at there. did presence Please And of you conference. we There's and conference Diego, as at of shortly.Thanks be the both we we'll where have have June the Society, We'll Leerink be American week, in And Thank meetings engagement invite And -- first It the July, answer times be our Internet. August with NTM thought everything. shareholders' night. update we with your lung we in in best up. of at patient the forward the one at conferences these a by continued and endocrine the vote followed in week. RBC to submit please we'll Please next at your places. just have for coming well. The two I Boston the next just by and and your another Scientific endocrine. scientific in as attending got conference, another talking mid-August. the weeks.So, can meeting disease, will mine an we'll

Operator

the you. Renza Thank Capital first [Operator line comes Markets. of instructions] Gregory Our from question RBC of

Gregory Renza

thanks Greg. taking my questions. Hi, the Congrats for quarter, on and It's for Mike and team. [Anish]

from takeaways bars us Just ADA readout remind wanted Maybe thematic help potentially the Thanks results? or the in Then and of June, collaboration and any much. in key What's the challenge also, success, could and disclosed meal to on quick opportunities just readthroughs you expectations for set previously a ask initial IPF studies INHALE-X. TETON if real next at PPF? in us the question. and INHALE-X with just UTHR, so

Michael Castagna

Thank you, Anish.

most AID out So care make the standard of people is believe INAHLE-X, to expectations, clear the there. best

that be and wanted perceive look, we Afrezza on measure to if good as we time to whatever you want AXC, went so range, as people And to diabetes Type that best, what etc. able against X show in was the

to on and on XX% so And what allow half everybody were will the to we care, on people XXX roughly Afrezza. have is we care was were of in anyone XX that that at and XX% that of switched MDI. do And And us what degludec, did AID, switch patients to half to going will of study, weeks, over. standard then standard and going is

try will everybody So, Afrezza.

we second analysis be for XX second get that to what that switch an versus of the will So first see weeks. weeks the Afrezza continuous in XX interesting or XX happens changer weeks the also

So the what the first and hours, you world, does two meant that's challenge show was clearing, good we real the to number meal it's you two And what recommend in test, that to, standard doctor to when when the logarithm them And better dose a I when when we'll what think food know and can world. shows think safe, mealtime of show lots you a have key versus that's want how care. I use -- the if peaking that of eat, is you two, challenge the you is and first it's two number your the hours can't we the is meal in patient does We get effective, about you control we control generally one; right? products. that think in which really dosing data.The test

in the trial the put well we care And of really we to win AID, totality.But I is it the standard so make of that's a as what's out, in what as all as going as when data on results good what MDI. interesting see looking clear, see looks at really we terms think come like to be as

be will individual years on collaboration UT collaboration a there's the components. that about that if ago [Talks UT.] licenses, opportunities, additional else be there's could done agreement an total think it etc., with there's signed work on analysis, Anything that collaboration So was INHALE-X? that with happen. not in we and And to I

We ideas. the have so had and that over been focused Tyvaso on years we've different

For Both platform, at example, of you would them and But those so we have because that stage. really bringing and move brought the was this I going the look be discussion Imatinib. to had thing back going was we without PH, when time they in to, to [indiscernible] think have our have chose We exclusivity been these to not things in.They UT other out in-licensed time. needle, them forward to -- them defer by around for to them true couldn't got with we turned are be that to Tyvaso had at the biggest and big them. so I that move for

help. diseases ability and clinically. I next be in of for think now the going ourselves. have find our think day, trying to at to moving the the what's own outside fund I to forward get And shareholders and other to by patients we it's the and of So, revenue that's meaningful PH grow are really end But we that's orphan

Operator

comes Brayer line Olivia question Fitzgerald. from of next Our Cantor of the Instructions] [Operator

Olivia Brayer

your great program. wanted earnings. ask about Congrats I to just IPF on a

there forward that clinic, potentially are the you the in the you how -- into much moves considering have interest partner thinking considered MNKD-XXX? that And is for just there a As path market? with working guys about how

Michael Castagna

Yes.

challenging is and reasons the lots years, feel program about in No. same on a getting we say now all is there. with working about lots patients a think our we INHALE been should people lot stage failures. can leader of we the and pretty X for it's Phase out, in and it's now IPF thing, meaning for that winner it's that good heel at results.And these market have Gugen, just execution, of We've but dose. deal feel the just where I tolerability, We'll that I'd obviously disease X of the many if moving out the Achilles' that that means clear of help and a the confirm intended works around

in that trainings, if versus so, $XXX like I billion don't door and have out you revenue, partner? that of these would services, for almost ton specialty infrastructure I in a built. you that. think much need about patient And think haven't our rather shareholders a a $X.X support distribution, a that's pharmacy wholesalers, already Meaning million week the drug things diseases, we

We have all service that.And really for so that providers. possible patients quality it's providing the as about best scaling up and and

I the think to reassess as their U.S., the get going can there. we're terms that's those I we as the to continue think to ahead. we decisions market, But so those or we We And is data from of directionally trials go-through continue make and in ex-U.S. we financially, perspective think, our If planning where to distributors in we'll afford independently. to come partners. these progress go forward, I drive the think

Operator

comes the of of & Lichtman question from next Steven Oppenheimer Co. Our line

Steven Lichtman

And [p] been Thank we When which I mentioned you. guess with wanted you. versus Chris, it's I And, months. at congratulations. direction trial XX Evening, ask Steve, to months goes? there? Mike, guys. What working know on X potential to next great are for milestones that the filing the you Afrezza. will

Michael Castagna

They patients think the then Is anything And discussions the see inconsistent submission a question. And the with file. that on to FDA, ask so six the I of like we we time that's data. if surprise says reason a in really see six our look But FDA the get all go assuming six-month there's mark data, done the the insulins, file patients, a they there that we'll if would to months real wait And to get the of and again, tolerable, Afrezza? our think have on pretty all plan and another I option with a the by not won't safe we other months the it's studied if and they to product. we don't a then In that much to patients, months may meaning thousands we've argument, the in XX negative at competitive there's then approved has majority benchmarks, may we -- at terms approve it's I been ahead of help if other they've surprise of disagree. not, data When of help us. safety. positive

a into trial get let's to the be debate results, with them have we We far. can the so everything clinical timing want on versus didn't we So, that and with get found to the discussion then collaborative on them. FDA

So key The going like chance a for are to there's XX of that's point. that the the six. XX.And trickling month we'd along that to reality have for -- handful there, only but there help a there's wait is is us full really the go patients be XXXX in beyond will beyond get we'd to time six-month data that

Steven Lichtman

it ahead. the Steve, collaboration then, line, was well And

as model those You as that sorts there size of it pieces that you guess, quarters? the you to contributed Can which in few importantly, quarter? to I pieces. to of out or next maybe mentioned the of different a variables a sustainable item just we those look number is pointed And

Steven B. Binder

Steve. Thanks,

last to mid last back about DPI think you X.Xx production If bulk talked increasing Tyvaso about we by year. year, our

year, quarterly [CNS] quarter, as revenues, can been you third quarter growing. first look quarter, fourth So, they've at our this

sales recognize in us United activity which to higher expect to revenue. Therapeutics, the allows So

lower higher is couple may things of end One of repeat. in DPI year QX that QX. end not that of the inventory we a had Tyvaso a level at for had at a and level also We

inventory that sold so QX, So we recognize to revenue. in got that through

testing on PPQ we could also our then line have that some recognize fill revenue. we revenue deferred had on.And also We finish

had back, first the $XX needs contract. we the call to because you and over through worth see deferred contract. starting by recognized to If is of XXXX, actually manufacturing get recognized that deferred this the of revenue up which come get We're of of million that in years couple end

QX, to you'll So, in that start deferred $X.X revenue got and going out it million recognized every a to XXXX. was about quarter see that

Michael Castagna

we're will the additional important we're we this see add spray dryers, PPQ validating to validating year. because to billing additional that and just PPQ, Steve, Steve, the will that, strengths. be

recurring kitting doing that be was there's that year. question. should recurring will be then that new answer also us we're that for And So to that this

as next that recurring go of the So forward couple for two things be those are quarters. should we

Operator

comes Our line Thomas the Leerink Partners. question next Smith of of from

Thomas Smith

questions, the the strong taking for I Thanks quarter. and couple congrats guess. on of A questions,

program, that registration on First, second think IPF Can comment single the in study pending here whether case path would you Phase of basis for the whether your you results. plans to pivotal potential mentioned study X a registration you regulatory there's you the X/X study the a base just on about intended XXXX, on or inhaled enable in Phase is there? how XXX, and need potential fund to a

Michael Castagna

comment publicly it's say too to on early would those I things.

FDA example, you say, another see an the example a or would small then trial and specifically. that be question could be IPF the one if approval? of is we enough have And to You ones, can required other to like the with extrapolation study. And could do for where for you a do get want PPF, can indication, single endpoint, sense

PAH one. I at think specific When the in you Tyvaso there. and got look precedent, ILD as even label, a we as study is though just getting the you're not full indication, DPI, where well their personally, biosimilars, biosimilars, you

think I be to to I lot the going FDA that's of We're an important. end of with think discussions, TBD. that's next of X that's phase and ultimately going meeting that to have Phase going drive a So

Thomas Smith

And INHALE-X think then specific that need in diabetes. better plans, ongoing but I that study on you'd you have opportunity the then highlighted studies, development potential and and if to whether elaborate population? on you a wondering was gestational the access you you could the Afrezza also INHALE-X

Michael Castagna

at sugars about person and Yes. is What's in gestational are it sugars the the when XXX.And it just takes XXX ATTD, in minutes study, to happened really takes in control working. part so wow, is INHALE-X so in that's way bring because the really saw of down them, the the hours there's to which study I a working, people that. they apologize and keep XX doing two or start no the injectable slow, post-meal really can minutes are of this centers are they were minutes the recall start XX is we they trying sugars postprandial under specifically, what first challenge and insulin to results for sparked But I discussion, study, that don't some

forward. when And guidelines the they felt as so to could this and they saw challenge they're trying the implement results that goal meal change we really help that go that

a there's to concerns. part just market study could a a funding. got And If can forever. not this drug to that's there's is rate We the don't to fund. pregnancy same if of the this part that's going party we consider going us a support.So, providing going of ask requested. we've is the The to population. of, and third that then thing is but for that, what that rule another We we'd something drug been be as large to what is, is doing support? help a at do? gestational things and is two be at something contribute But have an support any into not trial? are would on is be we part large would -- we show out they it which I answer to would you to then One woman won't time, there's And me, a get the discussion, inhale a trial would there help adult. out this obviously, So, PK that But obviously, it data next like want

and good metformin there's what treat enough rapid-acting there data and think get PK insulin. only two got really these happened drugs what's and to I out because patients. to we see It's the

would that's sure internal short that have And well, roughly, there. situation with of as and the been with goes get for we make hopefully love XX works work discussion. so, overall comfortable they we're all feel and time something we'll doing period to But to weeks a if some And well feedback treatment, CGM.So, the that's requests.

Operator

I'm showing closing turn no Castagna, Michael it further for questions at remarks. this time. I CEO, would to now to back like

Michael Castagna

some thing share have I just of on you outstanding. want count email, was which clarify via commented to one our that

when up profit show Our diluted share the gone fully quarter we yet count. in shares for to are a not have

share year, last $XXX average the really million. million count $XXX So, versus is million $XXX

thought to as up all are behalf. there may thank a cylinders. on the great help have hard on So, retail say We're quarter. really working you teams out it's to firing much not going side.Overall, I want some It of on as again. really patients. We're was The really your you to Steve

of with coming be boards boards, advisory doing to We're advisory up ATS. lot a have meetings. We meetings going -- physician patient some investigator

hopefully on And I the improve to think dramatically out, is quarter we'll reputation inhaled here on every from space into MannKind's progress. updates this to So, pretty moving going year. much have orphan lung clofazimine's start

get Now to that the to the hard to work, the light getting a proceed now the gotten see I'll the and now It's this can get development, through patients that trial, saw we've to we've but work sure continue drug through allocating what's We're to in, as drugs work development say and expenses. and we position we're fast best the hard X in the all as make deleverage prudent And we Phase hard miracle. future near this point that and being we hard to is company. for financial there. with fact able our as and as do get been to we'll the can we're go, best you us in will capital is possibly could shareholders

our to And the to make to you looking you. you have years.Thank share conferences. again. want shareholders to have questions and thank a exciting sure future at ask we hopefully upcoming next over we your to continuing have make coming an lot an of dialogue some open the look as week. sure and with forward I great performance and go We please always investor forward seeing So, ahead you

Operator

Thank for This the participation program. does you in conference. today's your conclude

MannKind (MNKD) 8 May 242024 Q1 Earnings call transcript