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MannKind Corporation Reports First Quarter Financial Results
Date:5/5/2008

77,338

Loss from operations (74,065) (77,328)

Other income 60 52

Interest expense on senior convertible

notes (337) (1,145)

Interest income 2,921 5,280

Loss before provision for income taxes (71,421) (73,141)

Income taxes - -

Net loss applicable to common

stockholders $(71,421) $(73,141)

Net loss per share applicable to common

stockholders - basic and diluted $(0.70) $(1.00)

Shares used to compute basic and diluted

net loss per share applicable to common

stockholders 101,409 73,388

MannKind Corporation

Condensed Balance Sheets

(Unaudited)

(in thousands)

March 31, December 31,

Assets 2008 2007

Current assets:

Cash and cash equivalents $269,079 $368,285

State research and development tax credit

exchange receivable - current - 831

Prepaid expenses and other current assets 8,004 9,596

Total current assets 277,083 378,712

Property and equipment - net 185,895 162,683

State research and development tax credit

exchange receivable - net of current portion 1,875 1,500

Other assets 549 548
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SOURCE MannKind Corporation
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