MANNKIND CORP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
MNKD$4.23+1.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STAT EMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $27,588 | $(11,938) | $(87,400) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Stock-based compensation | 21,358 | 17,649 | 13,447 |
| Loss on settlement of debt | 20,444 | — | — |
| Interest on liability for sale of future royalties | 16,172 | 185 | — |
| Depreciation and amortization | 7,371 | 4,535 | 3,325 |
| Write-off of inventory | 3,855 | 4,574 | 2,202 |
| Amortization of right-of-use assets | 1,668 | 1,301 | 2,987 |
| Amortization of debt discount and issuance costs | 1,646 | 2,085 | 2,092 |
| Loss on available-for-sale securities | 1,550 | 170 | 932 |
| Loss on estimated returns of acquired product | 1,444 | — | — |
| Loss on disposal of fixed assets | 565 | — | — |
| Interest on Mann Group convertible note | 56 | 224 | 325 |
| Sold portion of royalty revenue | (10,234) | (2,103) | — |
| Gain on bargain purchase | (5,259) | — | — |
| Net (accretion) amortization of investments | (5,092) | (925) | 707 |
| (Gain) loss on foreign currency transaction | (3,907) | 1,916 | (4,811) |
| Other, net | (241) | (339) | 17 |
| Interest accretion on financing liability | — | 31 | 9,552 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable, net | 2,652 | 2,345 | (11,807) |
| Inventory | (3,196) | (11,347) | (5,670) |
| Prepaid expenses and other current assets | (6,574) | (7,318) | (15,552) |
| Other assets | (3,570) | 263 | 523 |
| Accounts payable | (2,788) | (1,473) | 4,096 |
| Accrued expenses and other current liabilities | (2,703) | 6,606 | (723) |
| Deferred revenue | (15,312) | 39,462 | 19,047 |
| Recognized loss on purchase commitments | (2,690) | (9,424) | (5,709) |
| Operating lease liabilities | (2,292) | (2,385) | (3,309) |
| Deposits from customer | — | — | (4,950) |
| Net cash provided by (used in) operating activities | 42,511 | 34,094 | (80,679) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of held-to-maturity securities | (273,789) | (79,095) | (74,536) |
| Proceeds from maturities of held-to-maturity securities | 135,317 | 119,166 | 107,340 |
| Purchase of available-for-sale securities | (7,006) | — | (5,000) |
| Proceeds from maturities of available-for-sale securities | 58,126 | — | — |
| Purchase of property and equipment | (9,693) | (42,441) | (7,589) |
| Acquisition of V-Go | — | — | (15,341) |
| Proceeds from insurance claim | 396 | 382 | — |
| Net cash (used in) provided by investing activities | (96,649) | (1,988) | 4,874 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from sale of future royalties | — | 150,000 | — |
| Issuance costs associated with sale of future royalties | — | (4,050) | — |
| Principal and early extinguishment payments on senior convertible notes | (87,697) | — | — |
| Principal and early extinguishment payments on MidCap credit facility | (36,617) | (6,667) | — |
| Principal and early extinguishment payments on Mann Group convertible note | (8,854) | — | — |
| Payments for taxes related to net issuance of common stock associated with restricted stock units and stock options | (6,087) | (10,162) | 319 |
| Proceeds from market price stock purchase plan and employee stock purchase plan | 3,139 | 1,820 | 2,766 |
| Milestone payment | (752) | (924) | (1,088) |
| Principal payments on financing liability | (398) | (189) | (18) |
| Proceeds from at-the-market offering | — | 6,887 | 19,790 |
| Issuance costs associated with at-the-market offering | — | (108) | (381) |
| Net cash (used in) provided by financing activities | (137,266) | 136,607 | 21,388 |
| NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | (191,404) | 168,713 | (54,417) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD | 238,480 | 69,767 | 124,184 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD | $47,076 | $238,480 | $69,767 |
CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED)
| Year Ended | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (In thousands) | |||
| SUPPLEMENTAL CASH FLOWS DISCLOSURES: | |||
| Interest paid in cash | $17,506 | $18,279 | $8,852 |
| Income taxes paid in cash | $4,262 | $— | $— |
| NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Payments of senior convertible note principal through common stock issuances | $116,439 | $— | $— |
| Assumption of right-of-use-asset and operating lease liability | 10,057 | — | — |
| Non-cash acquisition of intangible asset | 4,300 | — | — |
| Payments of Mann Group principal and interest through common stock issuances | 3,806 | 222 | 10,270 |
| Amortization of liability for sale of future royalties | 3,605 | — | — |
| Non-cash construction-in-progress, property and equipment | 1,679 | 1,691 | 1,298 |
| Non-cash acquisition of property and equipment | 959 | — | — |
| Addition of right-of-use-asset and lease liability | — | — | 1,812 |
| Right-of-use asset modification | — | 728 | 3,793 |
| Goodwill adjustment for a net reduction in liabilities | — | 497 | — |
| Receivable for insurance claim on damaged equipment | — | 445 | — |
| Accrued issuance costs associated with liability for sale of future royalties | — | 325 | — |
| Contingent milestone liability | — | — | 610 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.