---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-000161"
form_type: "8-K"
ticker: "MNKD"
cik: "0000899460"
company_name: "MANNKIND CORP"
filed_at: "2024-01-02T23:59:59+00:00"
generated_at: "2026-06-07T05:41:10.365717+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# MannKind sells 1% Tyvaso DPI royalty to Sagard for $150M upfront, retains 9%

## Summary
- Sagard pays MannKind $150M upfront for a 1% royalty on global net sales of Tyvaso DPI through Dec 31, 2042.
- MannKind retains a 9% royalty on Tyvaso DPI; total 10% royalty pool split 1% Sagard / 9% MannKind.
- Milestone: $50M if trailing 12-month net sales hit $1.9B by Dec 31, 2026; else $45M if $2.3B by Sep 30, 2027.
- If milestones not met, no milestone payment and Sagard forgoes royalty on net sales above $3.5B in any calendar year.
- Transaction closed Dec 27, 2023; proceeds net of legal expenses; customary representations and indemnities.

## SEC filing metadata
- accession: 0001193125-24-000161
- form_type: 8-K
- ticker: MNKD
- cik: 0000899460
- company_name: MANNKIND CORP
- filed_at: 2024-01-02T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/899460/000119312524000161/0001193125-24-000161-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/899460/000119312524000161/d575512d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-000161
- JSON: https://secwatch.observer/filing/0001193125-24-000161.json
- Plain text: https://secwatch.observer/filing/0001193125-24-000161.txt

## Key facts
- Material Agreements
  MANNKIND CORP entered into Purchase Agreement with Sagard Healthcare Funding Partners Borrower 2 SPE, LP valued at $150 million (effective 2023-12-27).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Sagard Healthcare Funding Partners Borrower 2 SPE, LP
  - Value: $150 million
  - Effective: 2023-12-27
  source text: On December 27, 2023, MannKind Corporation (the “Company”) entered into a Purchase and Sale Agreement (the “Purchase Agreement”) with Sagard Healthcare Funding Partners Borrower 2 SPE, LP (“Sagard”) for the sale to Sagard of a 1% royalty on global net sales of Tyvaso DPI ® (treprostinil) inhalation powder (“Tyvaso DPI”) occurring on and after October 1, 2023 through December 31, 2042 under the Company’s License and Collaboration Agreement dated as of September 3, 2018, as amended (the “License Agreement”), with United Therapeutics Corporation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/899460/000119312524000161/0001193125-24-000161-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.