$MNKD
MANNKIND CORP

2016 Q2 Form 10-Q Financial Statement

#000119312516676980 Filed on August 09, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue $4.045M $5.700M
YoY Change -29.04%
Gross Profit -$4.045M -$5.700M
YoY Change -29.04%
Gross Profit Margin
Selling, General & Admin $11.11M $10.62M
YoY Change 4.58% -67.31%
% of Gross Profit
Research & Development $4.310M $7.737M
YoY Change -44.29% -79.27%
% of Gross Profit
Depreciation & Amortization $589.0K $2.740M
YoY Change -78.5% 11.88%
% of Gross Profit
Operating Expenses $15.42M $24.05M
YoY Change -35.89% -65.57%
Operating Profit -$19.12M -$24.05M
YoY Change -20.49% -65.57%
Interest Expense -$4.900M -$4.800M
YoY Change 2.08% 54.84%
% of Operating Profit
Other Income/Expense, Net -$10.84M -$10.00K
YoY Change 108250.0% -97.3%
Pretax Income -$29.96M -$28.91M
YoY Change 3.63% -60.59%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$29.96M -$28.91M
YoY Change 3.63% -60.59%
Net Earnings / Revenue
Basic Earnings Per Share -$0.33
Diluted Earnings Per Share -$0.33 -$360.3K
COMMON SHARES
Basic Shares Outstanding 91.06M 409.6M shares
Diluted Shares Outstanding 91.06M

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $63.70M $107.2M
YoY Change -40.58% 160.19%
Cash & Equivalents $63.73M $107.2M
Short-Term Investments
Other Short-Term Assets $24.10M $14.10M
YoY Change 70.92% 281.08%
Inventory $2.866M $19.82M
Prepaid Expenses
Receivables $0.00 $4.748M
Other Receivables $0.00 $0.00
Total Short-Term Assets $90.76M $145.8M
YoY Change -37.76% 224.71%
LONG-TERM ASSETS
Property, Plant & Equipment $47.42M $193.9M
YoY Change -75.54% 5.63%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.248M $2.025M
YoY Change -38.37% -72.64%
Total Long-Term Assets $48.67M $206.7M
YoY Change -76.46% 8.01%
TOTAL ASSETS
Total Short-Term Assets $90.76M $145.8M
Total Long-Term Assets $48.67M $206.7M
Total Assets $139.4M $352.6M
YoY Change -60.45% 49.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.849M $5.190M
YoY Change -45.11% 2.04%
Accrued Expenses $10.25M $13.93M
YoY Change -26.4% -32.31%
Deferred Revenue
YoY Change
Short-Term Debt $75.50M $73.80M
YoY Change 2.3% 95.76%
Long-Term Debt Due $64.10M
YoY Change
Total Short-Term Liabilities $289.7M $342.3M
YoY Change -15.35% 187.05%
LONG-TERM LIABILITIES
Long-Term Debt $147.1M $113.6M
YoY Change 29.49% -23.45%
Other Long-Term Liabilities $16.67M $12.12M
YoY Change 37.49% -19.39%
Total Long-Term Liabilities $16.67M $12.12M
YoY Change 37.49% -19.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $289.7M $342.3M
Total Long-Term Liabilities $16.67M $12.12M
Total Liabilities $506.0M $468.0M
YoY Change 8.12% 65.57%
SHAREHOLDERS EQUITY
Retained Earnings -$2.918B -$2.554B
YoY Change 14.24%
Common Stock $2.552B $2.439B
YoY Change 4.62% 2.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$366.6M -$115.5M
YoY Change
Total Liabilities & Shareholders Equity $139.4M $352.6M
YoY Change -60.45% 49.19%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income -$29.96M -$28.91M
YoY Change 3.63% -60.59%
Depreciation, Depletion And Amortization $589.0K $2.740M
YoY Change -78.5% 11.88%
Cash From Operating Activities -$11.51M -$17.81M
YoY Change -35.37% -23.95%
INVESTING ACTIVITIES
Capital Expenditures $0.00 -$4.540M
YoY Change -100.0% -45.04%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $0.00 -$4.540M
YoY Change -100.0% -45.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 47.59M 8.680M
YoY Change 448.27% -76.62%
NET CHANGE
Cash From Operating Activities -11.51M -17.81M
Cash From Investing Activities 0.000 -4.540M
Cash From Financing Activities 47.59M 8.680M
Net Change In Cash 36.08M -13.67M
YoY Change -363.94% -350.83%
FREE CASH FLOW
Cash From Operating Activities -$11.51M -$17.81M
Capital Expenditures $0.00 -$4.540M
Free Cash Flow -$11.51M -$13.27M
YoY Change -13.26% -12.47%

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<div><strong><em><font size="2">Deferred costs from collaboration</font></em></strong>&#xA0;&#x2014; Deferred costs from collaboration represent the costs of product manufactured and sold to Sanofi, as well as certain direct costs associated with a firm purchase commitment entered into in connection with the collaboration with Sanofi. Such costs are deferred to the extent they are deemed recoverable through the recognition of future revenue associated with the collaboration and will be amortized as the associated revenue is recognized.</div>
dei Entity Registrant Name
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MANNKIND CORP
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DepreciationDepletionAndAmortization
1179000
us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
2023000
us-gaap Increase Decrease In Customer Advances And Deposits
IncreaseDecreaseInCustomerAdvancesAndDeposits
9202000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
2663000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-12532000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1127000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
17000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
1443000
us-gaap Share Based Compensation
ShareBasedCompensation
2628000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
2058000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
5306000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
177000
us-gaap Paid In Kind Interest
PaidInKindInterest
2604000
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
50000000
us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
9440000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
18460000
us-gaap Costs And Expenses
CostsAndExpenses
39136000
us-gaap Interest Expense Debt
InterestExpenseDebt
8401000
us-gaap Manufacturing Costs
ManufacturingCosts
11236000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
48053000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
4659000
mnkd Longterm Purchase Commitment Renewal Time Period
LongtermPurchaseCommitmentRenewalTimePeriod
P2Y
mnkd Losses On Purchase Commitments
LossesOnPurchaseCommitments
74000
mnkd Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
0 shares
mnkd Long Term Purchase Commitment Expiration Date
LongTermPurchaseCommitmentExpirationDate
2019-12-31
mnkd Long Term Purchase Commitment Cancellation Fees
LongTermPurchaseCommitmentCancellationFees
5200000
mnkd Long Term Purchase Commitment Amount Purchased
LongTermPurchaseCommitmentAmountPurchased
3400000
mnkd Proceeds From Issuance Of Common Stock And Warrants Net
ProceedsFromIssuanceOfCommonStockAndWarrantsNet
734000
mnkd Warrant Issuance Costs
WarrantIssuanceCosts
653000
mnkd Increase Decrease In Purchase Commitment Loss Current
IncreaseDecreaseInPurchaseCommitmentLossCurrent
8312000
mnkd Increase Decrease In Purchase Commitment Loss Noncurrent
IncreaseDecreaseInPurchaseCommitmentLossNoncurrent
-12204000
mnkd Reclassification Of Deferred Costs From Loss On Purchase Commitment To Deferred Costs From Collaboration
ReclassificationOfDeferredCostsFromLossOnPurchaseCommitmentToDeferredCostsFromCollaboration
9202000
mnkd Interest On Note Payable To Principal Stockholder
InterestOnNotePayableToPrincipalStockholder
1443000
CY2016Q2 mnkd Sale Of Common Stock In Underwritten Public Offering
SaleOfCommonStockInUnderwrittenPublicOffering
48543692 shares
CY2016Q2 mnkd Proceeds From Issuance Of Common Stock And Warrants Net
ProceedsFromIssuanceOfCommonStockAndWarrantsNet
47400000
CY2015 us-gaap Impairment Charge On Reclassified Assets
ImpairmentChargeOnReclassifiedAssets
140400000
CY2015 mnkd Losses On Purchase Commitments
LossesOnPurchaseCommitments
66000
CY2015Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
401018000 shares
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
0
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
1000
CY2015Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-24051000
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-28910000
CY2015Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-28909000
CY2015Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
3000
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-10000
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
1000
CY2015Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1775000
CY2015Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2740000
CY2015Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
721000
CY2015Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
7737000
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10623000
CY2015Q2 us-gaap Costs And Expenses
CostsAndExpenses
24051000
CY2015Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
4131000
CY2015Q2 us-gaap Manufacturing Costs
ManufacturingCosts
5691000
CY2016Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
2364200 shares
CY2016Q1 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
4920267 shares
CY2016Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.74
CY2016Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
1088050 shares
CY2016Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
455305000 shares
CY2016Q2 us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
1140200 shares
CY2016Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
0
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-2000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-19124000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
-29959000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-29961000
CY2016Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
26000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5959000
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2000
CY2016Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1355000
CY2016Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
589000
CY2016Q2 us-gaap Foreign Currency Transaction Loss Before Tax
ForeignCurrencyTransactionLossBeforeTax
2400000
CY2016Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
721000
CY2016Q2 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
4310000
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
11110000
CY2016Q2 us-gaap Costs And Expenses
CostsAndExpenses
19124000
CY2016Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
4181000
CY2016Q2 us-gaap Manufacturing Costs
ManufacturingCosts
3704000

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