MannKind Corporation Reports Second Quarter Financi...(2008 2007 2008 2007 ...)

Revenue $ - $ - $20 $10

Operating expenses:

Research and development 67,574 61,480 126,019 125,268

General and administrative 13,290 13,913 28,930 27,463

Total operating expenses 80,864 75,393 154,949 152,731

Loss from operations (80,864) (75,393) (154,929) (152,721)

Other income (expense) (60) 44 - 96

Interest expense on senior

convertible notes (124) (901) (461) (2,046)

Interest income 1,222 4,261 4,143 9,541

Loss before provision for

income taxes (79,826) (71,989) (151,427) (145,130)

Income taxes - - - -

Net loss $(79,826) $(71,989) $(151,247) $(145,130)

Net loss per share -

basic and diluted $ (0.79) $ (0.98) $ (1.49) $ (1.98)

Shares used to compute basic

and diluted net loss

per share 101,427 73,421 101,418 73,405

MannKind Corporation

Condensed Balance Sheet

(Unaudited)

(in thousands)

June 30, December 31,

Assets 2008 2007

Current assets:

Cash and cash equivalents $180,454 $368,285

State research and development tax credit

exchange receivable - current - 831

Prepaid expenses and other current assets 7,253 9,596

Total current assets 187,707 378,712

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