MannKind gets FDA approval for Furoscix ReadyFlow; raises $50M in private placement

MANNKIND CORP

FDA approved Furoscix ReadyFlow (furosemide injection) for edema in adults with heart failure or chronic kidney disease.
Private placement of 10,440,838 shares at $3.89 and pre-funded warrants for 2,412,632 shares at $3.88, led by Frazier Life Sciences.
Gross proceeds ~$50M; net proceeds to fund $45M CVR payment triggered by FDA approval and for general corporate purposes.
Pre-funded warrants have $0.01 exercise price, no expiration, subject to 19.99% beneficial ownership limitation.
Company agreed to file resale registration statement within 30 days of closing.

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