Navigation Links
MannKind Corporation Raises $250 Million in Self Managed Registered Direct Offerings of Common Stock
Date:10/2/2007

VALENCIA, Calif., Oct. 2 /PRNewswire-FirstCall/ -- MannKind Corporation (Nasdaq: MNKD) announced today that it has agreed to sell a total of 27,014,686 shares of its common stock in registered direct offerings to Alfred E. Mann, its principal stockholder, Chief Executive Officer and Chairman of the Board of Directors, and to two groups of investors, including accounts managed by Legg Mason Capital Management, Inc. Of the offered shares, 15,940,489 shares were sold to Mr. Mann at a price per share of $9.41, which is above the closing bid price of MannKind's common stock on October 1, 2007 as reported by the Nasdaq Global Market, and 11,074,197 shares were sold to the other investors at a price per share of $9.03. The sales of common stock pursuant to these self managed offerings will result in aggregate gross proceeds to MannKind of approximately $250 million before deducting offering expenses. The offerings are being conducted by means of separate prospectus supplements. The closings of the sales of the common stock are scheduled to occur on or about October 5, 2007.

A shelf registration statement relating to the securities being offered has been filed with the Securities and Exchange Commission and has become effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About MannKind Corporation

MannKind Corporation (Nasdaq: MNKD) focuses on the discovery, development and commercialization of therapeutic products for patients with diseases such as diabetes and cancer. Its lead product, the Technosphere Insulin System, is currently in Phase 3 clinical trials in the United States, Europe and Latin America to study its safety and efficacy in the treatment of diabetes.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to the sale by MannKind of its common stock, as well as MannKind's clinical trials and product candidates. Words such as "believes", "anticipates", "plans", "expects", "intend", "will", "goal", "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind's current expectations and involve risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to the progress, timing and results of clinical trials, difficulties or delays in seeking or obtaining regulatory approval and other risks detailed in the registration statement covering such sales and in MannKind's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended December 31, 2006 and periodic reports on Form 10-Q and Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this news release.


'/>"/>
SOURCE MannKind Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Trouble-shooting: Misincorporation or low fidelity
2. Roche Diagnostics Corporation
3. Roche Diagnostics Corporation
4. Promega Corporation: Wisconsins quiet innovator
5. Giuliani will keynote RedPrairie Corporations user conference
6. Madison Development Corporation makes loans to three area companies
7. Corporations and blogging
8. Metavante acquires Florida banking corporation
9. TriMas Corporations Cequent Group Acquires Chem-Chrome, Inc.
10. TomoTherapy raises $223 million in IPO
11. Fusion 2007: CA chief says IT complexity raises risk
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... San Francisco, CA (PRWEB) , ... June 23, ... ... capture (EDC) software, is exhibiting at the Pennsylvania Convention Center and will showcase ... DIA Annual conference. ClinCapture will also be presenting a scientific poster on Disrupting ...
(Date:6/23/2016)... , ... June 23, 2016 , ... ... new line of intelligent tools designed, tuned and optimized exclusively for Okuma CNC ... in Chicago. The result of a collaboration among several companies with expertise in ...
(Date:6/23/2016)... , June 23, 2016 ... research report to its pharmaceuticals section with historic ... details and much more. Complete report ... 151 pages, profiling 15 companies and supported with ... http://www.reportsnreports.com/reports/601420-global-cell-culture-media-industry-2016-market-research-report.html . The Global ...
(Date:6/22/2016)... Research and Markets has announced the addition of the "Biomarkers: ... The global biomarkers market has grown ... market is expected to grow at a five-year compound annual growth ... billion in 2015 to $96.6 billion in 2020. ... 2020) are discussed. As well, new products approved in 2013 and ...
Breaking Biology Technology:
(Date:5/3/2016)... May 3, 2016  Neurotechnology, a provider of ... MegaMatcher Automated Biometric Identification System (ABIS) , a ... projects. MegaMatcher ABIS can process multiple complex biometric ... combination of fingerprint, face or iris biometrics. It ... and MegaMatcher Accelerator , which have ...
(Date:4/19/2016)... April 20, 2016 The new ... a compact web-based "all-in-one" system solution for all door ... reader or the door interface with integration authorization management ... control systems. The minimal dimensions of the access control ... the building installations offer considerable freedom of design with ...
(Date:3/31/2016)... Florida , March 31, 2016 ... ) ("LegacyXChange" or the "Company") LegacyXChange ... potential users of its soon to be launched online ... ( https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also provide potential ... use of DNA technology to an industry that is ...
Breaking Biology News(10 mins):