MannKind Repays Maturing Debt Obligation; Buys Back Certain Warrants

WESTLAKE VILLAGE, Calif., July 18, 2019 (GLOBE NEWSWIRE) -- MannKind Corporation MNKD today announced the repayment of outstanding debt by an aggregate amount of approximately $4.0 million and the repurchase of a warrant to purchase approximately 3.3 million shares of common stock. 

• The Company repaid approximately $4.0 million of the Deerfield Financing Obligation that was due July 18, 2019 with $2.42 million in cash and by issuing 1,514,423 shares of the Company's common stock valued at $1.04 per share, the closing price of the Company's common stock on July 17, 2019 as reported on the Nasdaq Stock Market.   
• The Company also repurchased a warrant to acquire approximately 3.3 million shares of the Company's common stock from the holder thereof for approximately $433,000.  Following the repurchase, the warrant was cancelled and is no longer issued and outstanding. 

About MannKind Corporation
MannKind Corporation MNKD focuses on the development and commercialization of inhaled therapeutic products for patients with diseases such as diabetes and pulmonary arterial hypertension. MannKind is currently commercializing Afrezza^® (insulin human) Inhalation Powder, the Company's first FDA approved product and the only inhaled rapid-acting mealtime insulin in the United States, where it is available by prescription from pharmacies nationwide. MannKind is headquartered in Westlake Village, California, and has a state-of-the art manufacturing facility in Danbury, Connecticut. The Company also employs field sales and medical representatives across the U.S. For further information, visit www.mannkindcorp.com.

MannKind Contact:

Rose Alinaya
Investor Relations
818-661-5000
ir@mannkindcorp.com