$MNKD
MANNKIND CORP

2014 Q2 Form 10-Q Financial Statement

#000119312514195057 Filed on May 12, 2014

View on sec.gov

Income Statement

Concept 2014 Q2 2014 Q1 2013 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $32.50M $15.20M $10.00M
YoY Change 124.14% 52.0% 2.04%
% of Gross Profit
Research & Development $37.32M $26.18M $26.40M
YoY Change 37.97% -0.82% 9.28%
% of Gross Profit
Depreciation & Amortization $2.449M $2.500M $2.990M
YoY Change -17.15% -16.39% -10.93%
% of Gross Profit
Operating Expenses $69.85M $41.41M $36.44M
YoY Change 67.96% 13.65% 7.38%
Operating Profit -$69.85M -$41.41M -$36.44M
YoY Change 67.96% 13.65% 7.38%
Interest Expense -$3.100M -$4.800M -$4.600M
YoY Change -32.61% 4.35% -17.86%
% of Operating Profit
Other Income/Expense, Net -$370.0K -$5.890M $23.00K
YoY Change -2566.67% -25708.7% -98.34%
Pretax Income -$73.37M -$52.06M -$40.97M
YoY Change 59.06% 27.07% 7.31%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$73.37M -$52.06M -$40.97M
YoY Change 59.06% 27.07% 7.31%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$892.9K -$706.0K -$732.1K
COMMON SHARES
Basic Shares Outstanding 388.6M shares 377.2M shares 289.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2014 Q2 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $41.20M $35.80M $28.00M
YoY Change 44.56% 27.86% -50.62%
Cash & Equivalents $41.21M $35.76M $28.01M
Short-Term Investments $25.70M
Other Short-Term Assets $3.700M $3.600M $3.800M
YoY Change 15.63% -5.26% 26.67%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $44.91M $39.40M $32.29M
YoY Change 39.64% 22.04% -45.92%
LONG-TERM ASSETS
Property, Plant & Equipment $183.5M $176.3M $182.3M
YoY Change 2.21% -3.27% -4.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.400M $8.437M $230.0K
YoY Change 3117.39% 3568.26% -71.25%
Total Long-Term Assets $191.4M $185.2M $182.9M
YoY Change 6.17% 1.23% -4.58%
TOTAL ASSETS
Total Short-Term Assets $44.91M $39.40M $32.29M
Total Long-Term Assets $191.4M $185.2M $182.9M
Total Assets $236.3M $224.6M $215.2M
YoY Change 11.24% 4.35% -14.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.086M $3.638M $3.604M
YoY Change -6.15% 0.94% 33.48%
Accrued Expenses $20.58M $15.01M $26.38M
YoY Change -23.74% -43.11% -16.79%
Deferred Revenue
YoY Change
Short-Term Debt $37.70M $25.90M $119.6M
YoY Change -68.48% -78.34%
Long-Term Debt Due $114.6M
YoY Change
Total Short-Term Liabilities $119.2M $44.52M $264.2M
YoY Change -55.31% -83.15% 668.06%
LONG-TERM LIABILITIES
Long-Term Debt $148.4M $148.2M $97.80M
YoY Change 51.43% 51.53% -80.22%
Other Long-Term Liabilities $15.04M $14.32M
YoY Change
Total Long-Term Liabilities $15.04M $14.32M $97.80M
YoY Change -84.65% -85.36% -80.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $119.2M $44.52M $264.2M
Total Long-Term Liabilities $15.04M $14.32M $97.80M
Total Liabilities $282.7M $207.0M $362.0M
YoY Change -22.51% -42.81% -31.54%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.375B $2.366B $1.999B
YoY Change 16.46% 18.35%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$46.38M $17.54M -$146.8M
YoY Change
Total Liabilities & Shareholders Equity $236.3M $224.6M $215.2M
YoY Change 11.24% 4.35% -14.4%

Cashflow Statement

Concept 2014 Q2 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income -$73.37M -$52.06M -$40.97M
YoY Change 59.06% 27.07% 7.31%
Depreciation, Depletion And Amortization $2.449M $2.500M $2.990M
YoY Change -17.15% -16.39% -10.93%
Cash From Operating Activities -$23.42M -$36.99M -$32.03M
YoY Change -21.25% 15.5% -1.41%
INVESTING ACTIVITIES
Capital Expenditures -$8.260M $1.409M $1.459M
YoY Change 6253.85% -3.43% 351.7%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$8.260M -$1.410M -$1.459M
YoY Change 6253.85% -3.36% 401.37%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 37.13M 3.370M -349.0K
YoY Change 22.14% -1065.62% -100.4%
NET CHANGE
Cash From Operating Activities -23.42M -36.99M -32.03M
Cash From Investing Activities -8.260M -1.410M -1.459M
Cash From Financing Activities 37.13M 3.370M -349.0K
Net Change In Cash 5.450M -35.03M -33.84M
YoY Change 928.3% 3.53% -163.04%
FREE CASH FLOW
Cash From Operating Activities -$23.42M -$36.99M -$32.03M
Capital Expenditures -$8.260M $1.409M $1.459M
Free Cash Flow -$15.16M -$38.40M -$33.49M
YoY Change -48.8% 14.67% 2.06%

Facts In Submission

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CY2013Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2013Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2013Q1 us-gaap Interest Paid
InterestPaid
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CY2013Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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CY2013Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2013Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2013Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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0
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InterestExpenseDebt
2863000
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
36437000
CY2013Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-924000
CY2013Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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CY2013Q1 us-gaap Depreciation Depletion And Amortization
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2990000
CY2013Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5189000
CY2013Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
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CY2013Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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715000
CY2013Q1 mnkd State Research And Development Credit Exchange Receivable
StateResearchAndDevelopmentCreditExchangeReceivable
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CY2013Q1 mnkd Proceeds From Issuance Of Common Stock And Warrants Net
ProceedsFromIssuanceOfCommonStockAndWarrantsNet
78000
CY2014Q1 dei Trading Symbol
TradingSymbol
MNKD
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
MANNKIND CORP
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Document Fiscal Year Focus
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2014
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0000899460
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
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CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
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CY2014Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
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CY2014Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
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CY2014Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
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CY2014Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
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CY2014Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
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CY2014Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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CY2014Q1 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
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CY2014Q1 us-gaap Interest Paid
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CY2014Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2014Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2014Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2014Q1 us-gaap Debt Conversion Original Debt Amount1
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CY2014Q1 us-gaap Investment Income Interest
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CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2014Q1 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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CY2014Q1 us-gaap Other Nonoperating Income Expense
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CY2014Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2014Q1 us-gaap Operating Income Loss
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CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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0
CY2014Q1 us-gaap Net Income Loss
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CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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CY2014Q1 us-gaap Depreciation And Amortization
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CY2014Q1 us-gaap Cash And Cash Equivalents Period Increase Decrease
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NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
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CY2014Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
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CY2014Q1 us-gaap Proceeds From Warrant Exercises
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CY2014Q1 us-gaap Increase Decrease In Accounts Payable
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CY2014Q1 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
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CY2014Q1 us-gaap Increase Decrease In Other Operating Liabilities
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CY2014Q1 us-gaap Depreciation Depletion And Amortization
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CY2014Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2014Q1 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
714000
CY2014Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-6704000
CY2014Q1 mnkd Nominal Lending Fee
NominalLendingFee
0.01
CY2014Q1 mnkd Amortization Period Of Lease Hold Improvements
AmortizationPeriodOfLeaseHoldImprovements
P4Y
CY2014Q1 mnkd Percentage Of Credit Exchange Receivable
PercentageOfCreditExchangeReceivable
0.65 pure
CY2014Q1 mnkd State Research And Development Credit Exchange Receivable
StateResearchAndDevelopmentCreditExchangeReceivable
-82000
CY2014Q1 mnkd Proceeds From Issuance Of Common Stock And Warrants Net
ProceedsFromIssuanceOfCommonStockAndWarrantsNet
1463000
CY2014Q1 mnkd Non Cash Financing Activities Loan Commitment Asset
NonCashFinancingActivitiesLoanCommitmentAsset
2921000

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