MannKind pro forma shows $36.1M net loss for H1 2025 post-scPharma acquisition

MANNKIND CORP

Acquired scPharma for $5.35/share cash plus CVR (up to $1.00/share); total consideration $396.4M cash.
Pro forma combined net loss of $36.1M for six months ended June 30, 2025 vs. MannKind standalone net income of $13.8M.
Pro forma combined net loss of $96.9M for year ended Dec 31, 2024 (MannKind $27.6M income, scPharma $85.1M loss).
Acquisition financed via $325M term loan (initial $75M, DDTL $75M, incremental $175M) at SOFR + 4.75% margin.
Pro forma total assets $765.8M, total liabilities $832.6M, stockholders' deficit $66.8M as of June 30, 2025.

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