MannKind Corporation (NASDAQ: MNKD) Starts Paediatric Enrolment For INHALE-1 Study And Enters Sale-Leaseback Deal

MannKind Corporation (NASDAQ: MNKD) has announced the enrolment of the first pediatric subject in its INHALE -1 trial. This multi-site study will assess the safety and efficacy of Afrezza in combination with basal insulin compared to multiple insulin injections daily in children aged 4-17 who have Type I or Type II diabetes.

MannKind commences pediatric enrolment in the INHALE-1 study.

The company’s VP, Medical Affairs and Safety, Kevin Kaiserman, said, “We are pleased to announce enrollment has begun for the INHALE-1 Phase 3 study, which is designed to assess the safety and efficacy of Afrezza in young people living with type 1 or type 2 diabetes. MannKind is pleased to sponsor this study with the goal of bringing Afrezza to a younger generation.”

INHALE-1 study chair Dr. Michael Haller said, “We are glad to see the INHALE-1 study start enrolling pediatric patients and look forward to its expansion to more youth across the country. Being involved with studies that can impact a large population of people living with T1D/T2D is so valuable, and I’m looking forward to seeing the data as MannKind continues to explore the potential of Afrezza for youth.”

MannKind enters a sale-leaseback deal for its manufacturing facility. 

MannKind has entered a sale-leaseback transaction with Creative Manufacturing Properties’ affiliate. Most importantly, the transaction will generate gross proceeds of $102.25 upon closing. The property sale comprises manufacturing space of 263,900 sq. ft. at Casper Street in Danbury but excludes the company’s R&D facility. Once closed, MannKind will sign a 20-year lease with the buyer.

The company’s CEO, Michael Castagna, said, “We are pleased to enter into this sale-leaseback transaction and unlock value tied up in our manufacturing facility that translates directly into non-dilutive capital to support our company’s growth and development strategy. The company is well-capitalized to invest further in our growing product pipeline as well as targeted scale-up of Afrezza commercial activities and clinical trials.”