MNKD MannKind Corporation - Common Stock
NASDAQ · Biotechnology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 5, 2026
$3.80
· of 52w range
· above low
· to high
$2.2352w low
$6.5152w high
Market Cap (MRQ)
$1.18B
P/E (TTM)
-29.2
EPS (TTM)
$-0.13
Revenue (TTM)
$394M
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52W Range
$2–$7
Analyst Rating
BUY
Price Target
$8
P/E
-29.2
ROE
71.4%
Net Profit Margin
-11.1%
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MNKD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.80
Market Cap (MRQ)
$1.18B
P/E (TTM)
-29.2
EPS (TTM)
$-0.13
Revenue (TTM)
$394M
ROE (TTM)
71.4%
52W Range
$2–$7
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| March 3, 2017 | 1-for-5 | Reverse |
About MannKind Corporation - Common Stock Company overview from Wikipedia
MannKind Corporation is a biopharmaceutical company focusing on the discovery, development, and commercialization of therapeutic products for diseases such as diabetes and pulmonary arterial hypertension. Based in Danbury, Connecticut, the company was founded in February 1991.
MannKind Corporation was named after its founder, Alfred E. Mann.
History
Founded in February 1991, the company's present form is a result of a 2003 merger of three companies owned by Alfred E. Mann: Pharmaceutical Discovery Corporation (PDC), the cancer vaccine developer CTL ImmunoTherapies, Inc., and its sister company Allecure Corp, which was developing an allergy vaccine technology. Pharmaceutical Discovery was purchased in 2001 from Solomon Steiner; with that purchase MannKind acquired the Technosphere molecule and Medtone inhaler, upon which was developed its lead product, Afrezza (inhalable insulin).
The FDA approved Afrezza on June 27, 2014.
On August 11, 2014 MannKind entered into an exclusive global licensing agreement with Sanofi for Afrezza sales. Under the agreement, MannKind received $150 million cash from Sanofi, in exchange for sharing profits and losses of sales of Afrezza, with 65% for Sanofi and 35% for MannKind. On January 5, 2016, MannKind Corporation announced the termination of the license and collaboration agreement with Sanofi. By December 2017, the company had lost 11% of its trading volume due to the poor sales.
In March 2020, the company announced it was working with fellow pharmaceutical company Immix Biopharma to try to develop an inhalable treatment for acute respiratory distress syndrome, a lung disease.
Products and product candidates
The firm has developed Afrezza a rapid-acting insulin peaking 12 to 15 minutes after inhalation and exiting the body within 2–3 hours. The inhalation technology uses a miniature, breath-powered inhaler in combination with single-use cartridges containing pre-metered doses. Initial pharmacokinetic studies were followed by studies of safety and efficiency involving Technosphere formulations of different therapeutic proteins.
Leadership
Mann was chief executive officer until January 12, 2015 when Hakan Edstrom became CEO and Mann transitioned to executive chairman.
In November 2015, Hakan Edstrom stepped down as CEO and president. Company founder Alfred Mann stepped in as interim CEO on November 19, 2015. In 2016, Matthew Pfeffer was appointed CEO of MannKind, and served as both CEO and CFO. In May 2017, Michael Castagna was named CEO of the company.
Facilities
MannKind has a large corporate office in Westlake Village, California. The Afrezza manufacturing facility is in Danbury, Connecticut. In 2022, the company moved its official headquarters to Danbury.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
sectorHealthcare
industryBiotechnology
employees591
countryUS
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$349M2016-12-31 → 2025-12-31
EPS$0.022016-12-31 → 2025-12-31
Free Cash Flow$14M2018-12-31 → 2025-12-31
Net margin-11.1%2017-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | MNKD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -29.25Y avg ≈45.5 | ≈45.5 | · | · | |
| P/S (TTM) | 3.05Y avg ≈9.1 | ≈9.1 | 21.2 | Undervalued | |
| P/B (MRQ) | -17.55Y avg ≈-14.7 | ≈-14.7 | · | · | |
| Price / FCF (TTM) | -64.95Y avg ≈7.7 | ≈7.7 | · | · | |
| Price / Cash Flow (TTM) | -146.25Y avg ≈27.0 | ≈27.0 | · | · | |
| Price / Tangible Book (MRQ) | -16.3 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | MNKD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 2.3%5Y avg ≈-17.1% | ≈-17.1% | -308.7% | Top tier | |
| EBITDA Margin | 11.1%5Y avg ≈-17.1% | ≈-17.1% | -308.7% | Top tier | |
| Pretax Margin (TTM) | -12.4%5Y avg ≈-37.8% | ≈-37.8% | · | · | |
| Net Profit Margin (TTM) | -11.1%5Y avg ≈-37.9% | ≈-37.9% | -214.0% | Top tier | |
| ROA (TTM) | -7.6%5Y avg ≈-12.4% | ≈-12.4% | -44.4% | Top tier | |
| ROE (TTM) | 71.4%5Y avg ≈10.3% | ≈10.3% | -11.7% | In line | |
| ROIC | -316.9%5Y avg ≈-71.2% | ≈-71.2% | -128.0% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | MNKD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.75Y avg ≈3.3 | ≈3.3 | 10.6 | Low liquidity | |
| Quick Ratio (MRQ) | 1.15Y avg ≈2.8 | ≈2.8 | 5.1 | Low liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | MNKD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 22.2%5Y avg ≈42.6% | ≈42.6% | · | · | |
| Revenue CAGR 3Y | 51.8%5Y avg ≈50.9% | ≈50.9% | · | · | |
| Revenue CAGR 5Y | 39.9% | · | · | · | |
| EPS YoY | -80.0% | · | · | · | |
| Net Income YoY | -78.8% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | MNKD | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.65Y avg ≈0.5 | ≈0.5 | 0.3 | Top tier | |
| Inventory Turnover | 0.85Y avg ≈1.2 | ≈1.2 | · | · | |
| Receivables Turnover | 13.95Y avg ≈14.7 | ≈14.7 | · | · | |
| Revenue / Employee | ≈$590.5K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-86.3%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-0.06 | $-0.00 | — |
| March 31, 2026 | May 13, 2026 | $-0.05 | $-0.00 | — |
| Dec. 31, 2025 | $-0.05 | $0.01 | -440.1% | |
| Sept. 30, 2025 | $0.07 | $0.02 | 205.9% | |
| June 30, 2025 | $0.00 | $0.05 | -100.0% | |
| March 31, 2025 | $0.04 | $0.04 | -10.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $349M | $286M | $199M | $100M | $75M | $65M | $63M | $28M | $12M | $175M | $0 | $0 | |
| Cost of Revenue | $27M | $17M | $21M | $16M | $17M | $15M | $20M | $19M | $17M | $17M | $65M | · | |
| SG&A Expense | $144M | $94M | $94M | $91M | $32M | $25M | $75M | $80M | $75M | $47M | $41M | $79M | |
| Operating Expenses | $88M | $77M | $63M | $57M | $39M | $25M | $108M | $104M | $120M | $107M | $345M | $180M | |
| Operating Income | $39M | $73M | $9M | $-64M | $-47M | $-48M | $-45M | $-77M | $-108M | $67M | $-345M | $-180M | |
| Interest Expense | · | · | $15M | $15M | $15M | · | · | · | · | · | $24M | $20M | |
| Interest Income | $8M | $13M | $6M | $3M | $112.0K | $167.0K | $997.0K | $501.0K | $293.0K | $85.0K | $18.0K | $9.0K | |
| Other Non-op | $-1M | $32.0K | $122.0K | $-102.0K | $-239.0K | $23.0K | $-926.0K | $-437.0K | $13.0K | $-597.0K | $1M | $2M | |
| Pretax Income | $1M | $31M | $-10M | $-87M | $-81M | $-57M | $-52M | $-87M | $-117M | $126M | $-368M | $-198M | |
| Income Tax | $-4M | $3M | $2M | $0 | $0 | $-218.0K | $0 | $240.0K | $51.0K | $0 | $0 | $0 | |
| Net Income | $6M | $28M | $-12M | $-87M | $-81M | $-57M | $-52M | $-87M | $-117M | $126M | $-368M | $-198M | |
| EPS (Basic) | $0.02 | $0.10 | $-0.04 | $-0.34 | $-0.32 | $-0.26 | · | $-0.60 | $-1.13 | $1.37 | $-4.54 | $-2.57 | |
| EPS (Diluted) | $0.02 | $0.10 | $-0.04 | $-0.34 | $-0.32 | $-0.26 | · | $-0.60 | $-1.13 | $1.36 | $-4.54 | $-2.57 | |
| Shares (Basic) | 305,639,000 | 274,415,000 | 267,014,000 | 257,092,000 | 249,244,000 | 222,585,000 | · | 144,136,000 | 104,245,000 | 92,053,000 | 81,233,000 | 77,045,000 | |
| Shares (Diluted) | 314,112,000 | 283,844,000 | 267,014,000 | 257,092,000 | 249,244,000 | 222,585,000 | · | 144,136,000 | 104,245,000 | 92,085,000 | 81,233,000 | 77,045,000 | |
| EBITDA | $39M | $73M | $9M | $-64M | $-47M | $-48M | $-45M | $-77M | $-106M | · | $-334M | $-170M |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $75M | $46M | $238M | $70M | $124M | $67M | $30M | $71M | $44M | $23M | $59M | $121M | |
| Short-term Investments | $96M | $151M | $57M | $101M | $80M | $0 | $20M | · | · | · | · | · | |
| Receivables | $38M | $12M | $15M | $17M | $5M | $4M | $4M | $4M | $3M | $302.0K | $23.0K | $50M | |
| Inventory | $35M | $28M | $29M | $22M | $7M | $5M | $4M | $4M | $3M | $2M | · | $10M | |
| Prepaid Expense | $47M | $31M | $35M | $25M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $20M | |
| Current Assets | $292M | $268M | $373M | $235M | $219M | $79M | $61M | $82M | $57M | $77M | $77M | $201M | |
| PP&E (Net) | $82M | $85M | $84M | $45M | $37M | $26M | $27M | $26M | $27M | $29M | $49M | $192M | |
| PP&E (Gross) | $196M | $192M | $186M | $144M | $134M | $123M | $122M | $126M | $128M | $129M | $168M | $310M | |
| Accum. Depreciation | $114M | $107M | $102M | $99M | $98M | $97M | $95M | $100M | $101M | $100M | $120M | $118M | |
| Goodwill | $68M | $2M | $2M | $2M | · | · | · | · | · | · | · | · | |
| Intangibles | $5M | $5M | $1M | $1M | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $20M | $27M | $7M | $10M | $8M | $3M | $6M | $249.0K | $437.0K | $648.0K | $1M | $848.0K | |
| Total Assets | $792M | $394M | $475M | $295M | $321M | $109M | $94M | $108M | $85M | $107M | $126M | $394M | |
| Accounts Payable | $9M | $7M | $10M | $11M | $7M | $6M | $5M | $5M | $7M | $3M | $16M | $7M | |
| Accrued Liabilities | $65M | $40M | $42M | $36M | $27M | $20M | $16M | $15M | $12M | $8M | $8M | $26M | |
| Short-term Debt | · | · | · | · | · | · | $5M | · | · | · | · | · | |
| Current Liabilities | $171M | $82M | $104M | $67M | $48M | $74M | $66M | $75M | $88M | $92M | $268M | $403M | |
| Capital Leases | $11M | $12M | $4M | $5M | $1M | $1M | $3M | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | $5M | · | · | · | · | · | $15M | $12M | |
| Total Liabilities | $843M | $473M | $721M | $546M | $531M | $289M | $284M | $283M | $299M | $291M | $477M | $468M | |
| Long-term Debt | $355M | $36M | $269M | $273M | $281M | $122M | $119M | $102M | $157M | · | · | · | |
| Total Debt | · | · | · | · | · | · | $5M | · | · | · | · | · | |
| Common Stock | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $1M | $957.0K | $4M | $4M | |
| Retained Earnings | $-3.20B | $-3.20B | $-3.23B | $-3.22B | $-3.13B | $-3.05B | $-2.99B | $-2.94B | $-2.85B | $-2.74B | $-2.86B | $-2.49B | |
| AOCI | $115.0K | $1M | · | · | · | · | $-19.0K | $-19.0K | $-18.0K | $-24.0K | $-20.0K | $-14.0K | |
| Stockholders' Equity | $-51M | $-79M | $-246M | $-251M | $-209M | $-180M | $-191M | $-175M | $-215M | $-184M | $-350M | $-74M | |
| Liabilities + Equity | $792M | $394M | $475M | $295M | $321M | $109M | $94M | $108M | $85M | $107M | $126M | $394M | |
| Shares Outstanding | 307,832,587 | 302,959,782 | 270,034,495 | 263,793,305 | 251,477,562 | 242,117,089 | 211,787,573 | 187,029,967 | 119,053,414 | 95,680,831 | 85,734,188 | 406,059,089 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $12M | $7M | $5M | $3M | $2M | $2M | $972.0K | $3M | $2M | $2M | $11M | $10M | |
| Stock-based Comp | $24M | $21M | $18M | $13M | $12M | $7M | $6M | $7M | $5M | $5M | $9M | $49M | |
| Deferred Tax | $-19M | $4M | $7M | $-10M | $-20M | $-5M | $-5M | $-11M | $-260M | $48M | $-80M | $-66M | |
| Amort. of Intangibles | $4M | · | · | · | · | · | · | · | · | · | · | · | |
| Restructuring | · | · | · | · | · | · | · | · | · | $2M | $6M | $2M | |
| Other Non-cash | · | · | · | · | · | · | · | · | $306M | · | $291M | $144M | |
| Operating Cash Flow | $18M | $43M | $34M | $-81M | $-62M | $-28M | $-88M | $-38M | $-65M | $-78M | $-57M | $4M | |
| CapEx | $5M | $10M | $42M | $8M | $11M | $801.0K | $3M | $354.0K | · | $1M | $10M | $24M | |
| Investing Cash Flow | $-305M | $-97M | $-2M | $5M | $-152M | $15M | $-23M | $-234.0K | $17M | $-1M | · | · | |
| Debt Issued | · | · | · | · | · | $5M | · | · | · | · | · | $20M | |
| Net Debt Issued | · | · | · | · | · | $5M | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | $564.0K | $893.0K | $28M | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | $564.0K | · | $28M | · | |
| Financing Cash Flow | $315M | $-137M | $137M | $21M | $270M | $50M | $70M | $61M | $74M | $43M | · | · | |
| Net Change in Cash | $29M | $-191M | $169M | $-54M | $57M | $37M | $-41M | $23M | $25M | $-36M | $-62M | $50M | |
| Taxes Paid | $2M | $4M | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $14M | $33M | $-8M | $-88M | $-73M | $-29M | $-91M | $-38M | · | · | $-68M | $-20M | |
| Levered FCF | · | · | $-26M | $-98M | · | · | · | · | · | · | $-92M | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 11.1% | 25.4% | 4.4% | -64.3% | -62.3% | -73.6% | -70.8% | -274.9% | -921.1% | · | · | · | |
| Net Margin | 1.7% | 9.7% | -6.0% | -87.6% | -107.3% | -87.9% | -82.3% | -312.2% | -999.0% | · | · | · | |
| Pretax Margin | 0.40% | 10.7% | -5.2% | -87.6% | -107.3% | -88.2% | -82.3% | -311.3% | -998.6% | · | · | · | |
| EBITDA Margin | 11.1% | 25.4% | 4.4% | -64.3% | -62.3% | -73.6% | -70.8% | -274.9% | -905.8% | · | · | · | |
| ROA | 0.99% | 6.3% | -3.1% | -28.4% | -37.7% | -56.6% | -51.5% | -90.5% | -122.4% | · | -141.5% | -60.8% | |
| ROE | -11.1% | -19.1% | 4.8% | 35.8% | 41.1% | 31.2% | 27.7% | 45.7% | 58.9% | · | 173.8% | 379.7% | |
| ROIC | -316.9% | -83.2% | -4.1% | 25.6% | 22.5% | 26.5% | 24.0% | 43.9% | 50.4% | · | 98.4% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 3.3 | 3.6 | 3.5 | 4.5 | 1.1 | 0.9 | 1.1 | 0.7 | · | 0.3 | 0.5 | |
| Quick Ratio | 1.2 | 2.6 | 3.0 | 2.8 | 4.3 | 1.0 | 0.8 | 1.0 | 0.5 | · | 0.2 | 0.4 | |
| Debt / Equity | · | · | · | · | · | · | -0.0 | · | · | · | · | · | |
| Interest Coverage | · | · | 0.6 | -6.7 | · | · | · | · | · | · | -14.3 | -8.8 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.5 | 0.3 | 0.4 | 0.6 | 0.6 | 0.3 | 0.1 | · | 0.0 | · | |
| Inventory Turnover | 0.8 | 0.6 | 0.8 | 1.1 | 2.8 | 3.3 | 5.2 | 6.2 | 6.9 | · | · | · | |
| Receivables Turnover | 13.9 | 21.4 | 12.6 | 9.3 | 16.4 | 16.9 | 16.7 | 8.2 | 7.6 | · | 0.0 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-0.17 | $-0.26 | $-0.91 | $-0.95 | $-0.83 | $-0.75 | $-0.90 | $-0.94 | $-1.80 | · | $-0.82 | $-0.18 | |
| Revenue / Share | $1.11 | $1.01 | $0.75 | $0.39 | · | · | · | $0.19 | $0.11 | · | · | · | |
| Cash Flow / Share | $0.06 | $0.15 | $0.13 | $-0.31 | · | · | · | $-0.26 | $-0.62 | · | · | · | |
| Cash / Share | $0.24 | $0.15 | $0.88 | $0.26 | $0.49 | $0.28 | $0.14 | $0.38 | $0.37 | · | $0.14 | $0.30 | |
| EPS (TTM) | $0.02 | $0.10 | $-0.04 | $-0.34 | $-0.32 | $-0.26 | $-0.63 | $-0.60 | $-1.13 | $1.36 | $-4.54 | $-2.57 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 22.2% | 43.5% | 99.4% | 32.2% | 15.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 51.8% | 55.8% | 45.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 39.9% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -80.0% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -78.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $349M | $286M | $199M | $100M | $75M | $65M | $63M | $28M | $12M | $175M | $0 | $0 | |
| Net Income TTM | $6M | $28M | $-12M | $-87M | $-81M | $-57M | $-52M | $-87M | $-117M | $126M | $-368M | $-198M | |
| Market Cap | $1.75B | $1.95B | $983M | $1.39B | $1.10B | $758M | $273M | $198M | $276M | · | $3.11B | $10.60B | |
| Enterprise Value | · | · | · | · | · | · | $228M | · | · | · | · | · | |
| P/E | 283.5 | 64.3 | -91.0 | -15.5 | -13.7 | -12.0 | -2.0 | -1.8 | -2.1 | 2.4 | -1.6 | -10.2 | |
| P/S | 5.0 | 6.8 | 4.9 | 13.9 | 14.6 | 11.6 | 4.3 | 7.1 | 23.5 | · | · | · | |
| P/B | -34.2 | -24.7 | -4.0 | -5.5 | -5.2 | -4.2 | -1.4 | -1.1 | -1.3 | · | -8.9 | -143.7 | |
| P / Cash Flow | 95.6 | 45.8 | 28.8 | -17.2 | -17.8 | -26.9 | -3.1 | -5.3 | -4.3 | · | -54.3 | 2593.8 | |
| P / FCF | 127.5 | 59.4 | -117.8 | -15.7 | -15.0 | -26.2 | -3.0 | -5.2 | · | · | -46.0 | -529.6 | |
| EV / EBITDA | · | · | · | · | · | · | -5.1 | · | · | · | · | · | |
| EV / FCF | · | · | · | · | · | · | -2.5 | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | 3.6 | · | · | · | · | · | |
| Earnings Yield | 0.35% | 1.6% | -1.1% | -6.5% | -7.3% | -8.3% | -48.8% | -56.6% | -48.7% | 42.5% | -62.6% | -9.8% |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $109M | $90M | $112M | $82M | $77M | $78M | $77M | $70M | $72M | $66M | $58M | $51M | $49M | $41M | $36M | $33M | |
| Cost of Revenue | $14M | $8M | $14M | $4M | $5M | $4M | $5M | $3M | $6M | $4M | $6M | $4M | $5M | $6M | $4M | $5M | |
| SG&A Expense | $58M | $54M | $58M | $29M | $32M | $25M | $24M | $24M | $24M | $22M | $61M | $11M | $12M | $11M | $64M | $9M | |
| Operating Expenses | $30M | $92M | $-103M | $63M | $21M | $56M | $-86M | $57M | $56M | $50M | $18M | $14M | $14M | $16M | $16M | $17M | |
| Operating Income | $-350.0K | $-2M | $-8M | $19M | $5M | $22M | $26M | $13M | $17M | $17M | $8M | $5M | $2M | $-6M | $-13M | $-10M | |
| Interest Expense | · | · | · | · | · | · | · | · | $6M | $3M | · | $3M | $7M | $3M | · | $3M | |
| Interest Income | $1M | $1M | $2M | $3M | $2M | $2M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $1M | $957.0K | $663.0K | |
| Other Non-op | $-5M | $-3M | $23M | $-11M | $-4M | $-9M | $24M | $110.0K | $-18M | $-6M | $-164.0K | $318.0K | $-143.0K | $111.0K | $105.0K | $-207.0K | |
| Pretax Income | $-19M | $-16M | $-21M | $8M | $940.0K | $14M | $8M | $13M | $-2M | $11M | $3M | $2M | $-5M | $-10M | $-18M | $-14M | |
| Income Tax | $-106.0K | $253.0K | $-5M | $-204.0K | $272.0K | $459.0K | $1M | $1M | $323.0K | $264.0K | $2M | $0 | $0 | $0 | · | $0 | |
| Net Income | $-19M | $-17M | $-16M | $8M | $668.0K | $13M | $7M | $12M | $-2M | $11M | $1M | $2M | $-5M | $-10M | $-18M | $-14M | |
| EPS (Basic) | $-0.06 | $-0.05 | $-0.05 | $0.03 | $0.00 | $0.04 | $0.03 | $0.04 | $-0.01 | $0.04 | $0.01 | $0.01 | $-0.02 | $-0.04 | $-0.07 | $-0.06 | |
| EPS (Diluted) | $-0.06 | $-0.05 | $-0.05 | $0.03 | $0.00 | $0.04 | $0.03 | $0.04 | $-0.01 | $0.04 | $0.01 | $0.01 | $-0.02 | $-0.04 | $-0.07 | $-0.06 | |
| Shares (Basic) | 309,191,000 | 308,267,000 | · | 306,806,000 | 304,954,000 | 303,481,000 | · | 274,998,000 | 273,056,000 | 270,356,000 | · | 268,732,000 | 265,626,000 | 263,969,000 | · | 259,300,000 | |
| Shares (Diluted) | 309,191,000 | 308,267,000 | · | 311,638,000 | 311,484,000 | 320,897,000 | · | 284,693,000 | 273,056,000 | 324,733,000 | · | 323,770,000 | 265,626,000 | 263,969,000 | · | 259,300,000 | |
| EBITDA | · | $-2M | · | $19M | $5M | $22M | · | $13M | $17M | $17M | · | $5M | $2M | $-6M | · | $-10M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $53M | $53M | $75M | $127M | $57M | $47M | $46M | $62M | $97M | $193M | · | $83M | $86M | $86M | · | $54M | |
| Short-term Investments | $58M | $81M | $96M | $133M | $122M | $134M | $151M | $189M | $151M | $107M | · | $58M | $58M | $80M | · | $111M | |
| Receivables | $43M | $28M | $38M | $17M | $27M | $29M | $12M | $18M | $23M | $20M | · | $22M | $28M | $20M | · | $23M | |
| Inventory | $44M | $49M | $35M | $27M | $28M | $29M | $28M | $27M | $25M | $26M | · | $27M | $25M | $22M | · | $18M | |
| Prepaid Expense | $47M | $40M | $47M | $54M | $44M | $34M | $31M | $31M | $30M | $36M | · | $36M | $33M | $15M | · | $12M | |
| Current Assets | $246M | $251M | $292M | $359M | $279M | $274M | $268M | $328M | $326M | $383M | · | $226M | $230M | $223M | · | $218M | |
| PP&E (Net) | $85M | $83M | $82M | $83M | $83M | $84M | $85M | $85M | $85M | $84M | · | $80M | $70M | $55M | · | $41M | |
| PP&E (Gross) | $203M | $198M | $196M | $195M | $194M | $192M | $192M | $192M | $190M | $186M | · | $182M | $170M | $154M | · | $140M | |
| Accum. Depreciation | $118M | $116M | $114M | $113M | $111M | $109M | $107M | $107M | $105M | $103M | · | $101M | $100M | $100M | · | $99M | |
| Goodwill | $68M | $68M | $68M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $3M | |
| Intangibles | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Other Non-current Assets | $17M | $22M | $20M | $19M | $20M | $28M | $27M | $26M | $16M | $7M | · | $8M | $8M | $16M | · | $17M | |
| Total Assets | $732M | $744M | $792M | $495M | $412M | $410M | $394M | $464M | $444M | $481M | · | $320M | $313M | $298M | · | $294M | |
| Accounts Payable | $11M | $16M | $9M | $7M | $10M | $5M | $7M | $6M | $10M | $7M | · | $17M | $17M | $14M | · | $10M | |
| Accrued Liabilities | $61M | $59M | $65M | $31M | $31M | $40M | $40M | $37M | $41M | $42M | · | $32M | $37M | $33M | · | $30M | |
| Current Liabilities | $143M | $135M | $171M | $109M | $112M | $116M | $82M | $72M | $80M | $100M | · | $96M | $97M | $82M | · | $60M | |
| Capital Leases | $10M | $10M | $11M | $10M | $11M | $11M | $12M | $12M | $3M | $4M | · | $4M | $5M | $5M | · | $6M | |
| Total Liabilities | $800M | $804M | $843M | $539M | $467M | $469M | $473M | $674M | $670M | $711M | · | $572M | $574M | $554M | · | $532M | |
| Long-term Debt | $319M | $319M | $355M | $110M | $36M | $36M | $36M | $228M | $228M | $264M | · | $273M | $274M | $274M | · | $273M | |
| Common Stock | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $3M | |
| Retained Earnings | $-3.23B | $-3.21B | $-3.20B | $-3.18B | $-3.19B | $-3.19B | $-3.20B | $-3.21B | $-3.22B | $-3.22B | · | $-3.23B | $-3.23B | $-3.23B | · | $-3.20B | |
| AOCI | $-19.0K | $-4.0K | $115.0K | $137.0K | $1M | $1M | $1M | $588.0K | · | · | · | $443.0K | $443.0K | · | · | $-1M | |
| Stockholders' Equity | $-67M | $-59M | $-51M | $-45M | $-55M | $-59M | $-79M | $-210M | $-226M | $-230M | $-246M | $-252M | $-260M | $-255M | $-251M | $-238M | |
| Liabilities + Equity | $732M | $744M | $792M | $495M | $412M | $410M | $394M | $464M | $444M | $481M | · | $320M | $313M | $298M | · | $294M | |
| Shares Outstanding | 309,911,682 | 308,907,331 | 307,832,587 | 307,027,189 | 306,332,133 | 303,918,969 | 302,959,782 | 275,775,038 | 274,467,247 | 270,801,781 | · | 269,543,539 | 268,235,145 | 264,278,760 | · | 263,156,165 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $6M | $6M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $-427.0K | |
| Stock-based Comp | $10M | $6M | $7M | $4M | $8M | $5M | $6M | $5M | $6M | $4M | $4M | $5M | $6M | $4M | $3M | $4M | |
| Amort. of Intangibles | $4M | $4M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-18M | $-5M | $-8M | $24M | $9M | $-6M | $23M | $9M | $4M | $7M | $22M | $9M | $3M | $1M | $-2M | $-28M | |
| CapEx | $5M | $2M | $2M | $1M | $1M | $330.0K | $3M | $1M | $3M | $2M | $6M | $11M | $17M | $8M | $5M | $271.0K | |
| Investing Cash Flow | $18M | $19M | $-292M | $-25M | $6M | $6M | $48M | $-41M | $-55M | $-48M | $-8M | $-12M | $4M | $14M | $15M | $27M | |
| Financing Cash Flow | $559.0K | $-35M | $247M | $72M | $-6M | $1M | $-87M | $-2M | $-45M | $-3M | $142M | $-283.0K | $-6M | $1M | $3M | $20M | |
| Net Change in Cash | $97.0K | $-22M | $-53M | $70M | $10M | $975.0K | $-16M | $-34M | $-96M | $-45M | $155M | $-3M | $315.0K | $16M | $15M | $19M | |
| Taxes Paid | $753.0K | $63.0K | $549.0K | $80.0K | $869.0K | $207.0K | $2M | $236.0K | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $-7M | · | · | · | $-7M | · | · | · | $4M | · | · | · | $-7M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $2M | · | · | · | $-10M | · | · |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -1.8% | · | 23.0% | 6.9% | 28.4% | · | 18.2% | 22.9% | 25.2% | · | 9.9% | 3.5% | -14.8% | · | -29.3% | |
| Net Margin | · | -18.4% | · | 9.7% | 0.87% | 16.8% | · | 16.5% | -2.8% | 16.0% | · | 3.4% | -10.8% | -24.1% | · | -44.0% | |
| Pretax Margin | · | -18.1% | · | 9.5% | 1.2% | 17.4% | · | 18.4% | -2.3% | 16.4% | · | 3.4% | -10.8% | -24.1% | · | -44.0% | |
| EBITDA Margin | · | -1.8% | · | 23.0% | 6.9% | 28.4% | · | 18.2% | 22.9% | 25.2% | · | 9.9% | 3.5% | -14.8% | · | -29.3% | |
| ROA | · | -2.9% | · | 1.7% | 0.16% | 2.9% | · | 2.9% | -0.53% | 2.7% | · | 0.56% | -1.8% | -3.2% | · | -5.4% | |
| ROE | · | 28.2% | · | -6.3% | -0.48% | -9.1% | · | -5.0% | 0.83% | -4.4% | · | -0.70% | 2.1% | 4.0% | · | 6.8% | |
| ROIC | · | 2.9% | · | -43.5% | -6.8% | -36.8% | · | -5.5% | -8.8% | -7.1% | · | -2.0% | -0.66% | 2.4% | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 1.9 | · | 3.3 | 2.5 | 2.4 | · | 4.5 | 4.1 | 3.8 | · | 2.3 | 2.4 | 2.7 | · | 3.7 | |
| Quick Ratio | · | 1.2 | · | 2.5 | 1.8 | 1.8 | · | 3.7 | 3.4 | 3.2 | · | 1.7 | 1.8 | 2.3 | · | 3.2 | |
| Interest Coverage | · | · | · | · | · | · | · | · | 2.7 | 6.5 | · | 1.8 | 0.3 | -2.5 | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | |
| Inventory Turnover | · | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.4 | · | 0.4 | |
| Receivables Turnover | · | 3.2 | · | 4.6 | 3.0 | 3.2 | · | 3.5 | 2.8 | 3.3 | · | 2.3 | 2.3 | 2.8 | · | 2.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $-0.19 | · | $-0.15 | $-0.18 | $-0.19 | · | $-0.76 | $-0.82 | $-0.85 | · | $-0.93 | $-0.97 | $-0.97 | · | $-0.90 | |
| Revenue / Share | · | $0.29 | · | $0.26 | $0.25 | $0.24 | · | $0.25 | $0.27 | $0.20 | · | $0.16 | $0.18 | $0.15 | · | $0.13 | |
| Cash Flow / Share | · | $-0.02 | · | · | · | $-0.02 | · | · | · | $0.02 | · | · | · | $0.00 | · | · | |
| Cash / Share | · | $0.17 | · | $0.41 | $0.19 | $0.16 | · | $0.23 | $0.35 | $0.71 | · | $0.31 | $0.32 | $0.32 | · | $0.21 | |
| EPS (TTM) | $-0.08 | $-0.07 | · | $0.10 | $0.11 | $0.10 | · | $0.08 | $0.05 | $0.04 | · | $-0.12 | $-0.19 | $-0.28 | · | $-0.38 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $358M | $361M | · | $314M | $302M | $298M | · | $267M | $248M | $225M | · | $177M | $158M | $128M | · | $76M | |
| Net Income TTM | $-27M | $-24M | · | $29M | $33M | $30M | · | $22M | $12M | $8M | · | $-31M | $-47M | $-71M | · | $-98M | |
| Market Cap | · | $757M | · | $1.65B | $1.15B | $1.53B | · | $1.73B | $1.43B | $1.23B | · | $1.11B | $1.09B | $1.08B | · | $813M | |
| P/E | -53.2 | -35.0 | · | 53.7 | 34.0 | 50.3 | · | 78.6 | 104.4 | 113.2 | · | -34.4 | -21.4 | -14.6 | · | -8.1 | |
| P/S | · | 2.1 | · | 5.3 | 3.8 | 5.1 | · | 6.5 | 5.8 | 5.5 | · | 6.3 | 6.9 | 8.4 | · | 10.7 | |
| P/B | · | -12.8 | · | -37.0 | -20.8 | -26.1 | · | -8.3 | -6.3 | -5.3 | · | -4.4 | -4.2 | -4.2 | · | -3.4 | |
| P / Cash Flow | · | -141.1 | · | · | · | -239.7 | · | · | · | 183.0 | · | · | · | 937.3 | · | · | |
| Earnings Yield | -1.9% | -2.9% | · | 1.9% | 2.9% | 2.0% | · | 1.3% | 0.96% | 0.88% | · | -2.9% | -4.7% | -6.8% | · | -12.3% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $349M | $286M | $199M | $100M | $75M |
| Operating Margin % | 11.1% | 25.4% | 4.4% | -64.3% | -62.3% |
| Net Income | $6M | $28M | $-12M | $-87M | $-81M |
| Diluted EPS | $0.02 | $0.10 | $-0.04 | $-0.34 | $-0.32 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 1.7 | 3.3 | 3.6 | 3.5 | 4.5 |
| Quick Ratio | 1.2 | 2.6 | 3.0 | 2.8 | 4.3 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $14M | $33M | $-8M | $-88M | $-73M |
Institutional owners (13F) 271 filers · $883.4M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
271
Value held
$883.4M
New positions
51
Exited positions
39
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 51 (0 vs prior Q) | 39 (-8 vs prior Q) | 98 (+12 vs prior Q) | 63 (-7 vs prior Q) | +1.9M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $136,887,530 | 32,133,223 | 15.50% | Shares |
| VANGUARD GROUP INC | $101,384,549 | 17,880,873 | 11.48% | Shares |
| Rubric Capital Management LP | $76,680,000 | 18,000,000 | 8.68% | Shares |
| STATE STREET CORP | $68,901,423 | 16,174,043 | 7.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $56,101,610 | 13,169,392 | 6.35% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $33,861,886 | 7,947,203 | 3.83% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $33,418,878 | 7,844,807 | 3.78% | Shares |
| Frazier Life Sciences Management, L.P. | $28,116,000 | 6,600,000 | 3.18% | Shares |
| Deep Track Capital, LP | $25,560,000 | 6,000,000 | 2.89% | Shares |
| 180 WEALTH ADVISORS, LLC | $21,126,835 | 4,959,351 | 2.39% | Shares |
| FMR LLC | $17,470,455 | 4,101,046 | 1.98% | Shares |
| TSP Capital Management Group, LLC | $16,923,596 | 3,972,675 | 1.92% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $16,225,589 | 3,808,824 | 1.84% | Shares |
| MORGAN STANLEY | $14,802,946 | 3,474,870 | 1.68% | Shares |
| BRAIDWELL LP | $14,732,908 | 3,458,429 | 1.67% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $12,789,240 | 3,002,169 | 1.45% | Shares |
| NORTHERN TRUST CORP | $12,299,856 | 2,887,290 | 1.39% | Shares |
| UBS Group AG | $12,295,344 | 2,886,231 | 1.39% | Shares |
| TWO SIGMA INVESTMENTS, LP | $11,475,213 | 2,693,712 | 1.30% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $11,070,577 | 2,598,727 | 1.25% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,074,356 | 2,364,872 | 1.14% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $9,358,279 | 2,196,779 | 1.06% | Shares |
| GOLDMAN SACHS GROUP INC | $9,178,165 | 2,154,499 | 1.04% | Shares |
| WELLS FARGO & COMPANY/MN | $6,289,519 | 1,476,413 | 0.71% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,030,221 | 1,180,803 | 0.57% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $4,661,185 | 1,094,192 | 0.53% | Shares |
| Caption Management, LLC | $4,260,000 | 1,000,000 | 0.48% | Put option |
| Bank of New York Mellon Corp | $3,827,454 | 898,463 | 0.43% | Shares |
| CITADEL ADVISORS LLC | $3,818,068 | 896,260 | 0.43% | Shares |
| J. Goldman & Co LP | $3,478,669 | 816,589 | 0.39% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3,019,973 | 1,232,642 | 0.34% | Shares |
| SCOPIA CAPITAL MANAGEMENT LP | $2,960,534 | 694,961 | 0.34% | Shares |
| Balyasny Asset Management L.P. | $2,914,296 | 684,107 | 0.33% | Shares |
| TWO SIGMA ADVISERS, LP | $2,897,166 | 510,964 | 0.33% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $2,771,407 | 650,565 | 0.31% | Shares |
| Nuveen, LLC | $2,708,218 | 635,732 | 0.31% | Shares |
| Swiss National Bank | $2,502,324 | 587,400 | 0.28% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $2,177,052 | 511,045 | 0.25% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,106,540 | 494,493 | 0.24% | Shares |
| 1492 Capital Management LLC | $2,052,136 | 481,722 | 0.23% | Shares |
| Mariner, LLC | $2,020,189 | 474,236 | 0.23% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,836,597 | 431,126 | 0.21% | Shares |
| Schonfeld Strategic Advisors LLC | $1,774,216 | 416,483 | 0.20% | Shares |
| Squarepoint Ops LLC | $1,759,644 | 413,062 | 0.20% | Shares |
| Jefferies Financial Group Inc. | $1,694,202 | 397,700 | 0.19% | Shares |
| ExodusPoint Capital Management, LP | $1,666,261 | 391,141 | 0.19% | Shares |
| JANE STREET GROUP, LLC | $1,658,418 | 389,300 | 0.19% | Call option |
| PRINCIPAL FINANCIAL GROUP INC | $1,629,561 | 382,526 | 0.18% | Shares |
| Man Group plc | $1,624,023 | 381,226 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $1,604,647 | 376,681 | 0.18% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Alfred E. Mann, Alfred E. Mann Living Trust, Biomed Partners, LLC, Minimed Infusion, Inc., The Mann Group LLC ×2 filings | July 10, 2012 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 31, 2006 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 43 insiders · 27 officers · 19 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Michael Castagna | Chief Executive Officer | July 15, 2026 M | 2,433,779 | 1 | 4 | $-990,292 |
| Hakan Edstrom | President & CEO | Aug. 27, 2015 A | 1,114,340 | 0 | 0 | $0 |
| Christopher B Prentiss | Chief Financial Officer | July 15, 2026 F | 318,668 | 0 | 0 | $0 |
| Juergen Martens | Corporate VP and COO | Aug. 27, 2015 A | 106,539 | 0 | 0 | $0 |
| Dominic Marasco | Pres, Endocrine Business Unit | July 15, 2026 F | 343,398 | 0 | 0 | $0 |
| Sanjay R Singh | EVP Technical Operations | July 15, 2026 M | 478,966 | 0 | 1 | $-94,448 |
| Stuart A Tross | Chief People & Workpl Officer | July 15, 2026 M | 1,058,142 | 0 | 1 | $-297,548 |
| David Thomson | EVP Genl Counsel & Secretary | July 15, 2026 M | 797,554 | 0 | 3 | $-930,755 |
| Ajay Ahuja | Chief Medical Officer | March 23, 2026 A | 318,200 | 0 | 0 | $0 |
| Lauren M Sabella | EVP Operations | July 15, 2025 F | 349,841 | 0 | 0 | $0 |
| Burkhard Blank | EVP Chief Medical Officer | July 15, 2025 F | 460,791 | 0 | 0 | $0 |
| Joseph Kocinsky | Chief Technology Officer | Aug. 27, 2022 F | 745,233 | 0 | 0 | $0 |
| Alejandro Galindo | EVP Endocrine Business Unit | Feb. 28, 2022 A | 576,690 | 0 | 0 | $0 |
| Rosabel Realica Alinaya | VP, IR & Treasury | Aug. 27, 2020 A | 167,119 | 0 | 0 | $0 |
| David M Kendall | Chief Medical Officer | July 31, 2020 P | 41,059 | 0 | 0 | $0 |
| Patrick Mccauley | Chief Commercial Officer | Feb. 25, 2020 A | 83,972 | 0 | 0 | $0 |
| Courtney Barton | Chief Compl & Privacy Officer | July 31, 2019 P | 29,584 | 0 | 0 | $0 |
| Elizabeth Garrett Ingram | Chief Marketing Officer | May 14, 2019 A | 43,012 | 0 | 0 | $0 |
| Raymond W. Urbanski | Corp VP, CMO | Aug. 10, 2017 S | 2,924 | 0 | 0 | $0 |
| Linda A Adreveno | Sr. VP, HR | Feb. 18, 2016 A | 92,200 | 0 | 0 | $0 |
| Alfred E Mann | Executive Chairman | Aug. 22, 2015 F | 1,005,990 | 0 | 0 | $0 |
| Diane Palumbo | Vice President, Human Resource | Feb. 23, 2015 F | 50,624 | 0 | 0 | $0 |
| Peter C Richardson | Chief Scientific Officer | March 3, 2012 F | 133,611 | 0 | 0 | $0 |
| Richard L Anderson | Corporate VP | Nov. 16, 2008 F | 204,401 | 0 | 0 | $0 |
| John R. Riesenberger | VP & Chief Commercial Officer | Aug. 13, 2008 A | 14,650 | 0 | 0 | $0 |
| Dan Burns | VP & President, MKBP | Dec. 8, 2006 A | 14,800 | 0 | 0 | $0 |
| Wendell W Cheatham | VP, Medical & Reg Affairs | Aug. 19, 2004 A | 300 | 0 | 0 | $0 |
| Steven B. Binder | Director | Sept. 25, 2026 S | 713,258 | 0 | 5 | $-683,703 |
| Sabrina Kay | Director | May 20, 2026 A | 265,600 | 0 | 0 | $0 |
| Jennifer Grancio | Director | May 20, 2026 A | 244,815 | 0 | 0 | $0 |
| James Samuel Shannon | Director | May 20, 2026 A | 64,635 | 0 | 0 | $0 |
| Michael A Friedman | Director | May 20, 2026 A | 47,500 | 0 | 0 | $0 |
| Anthony C Hooper | Director | May 20, 2026 A | 236,153 | 0 | 0 | $0 |
| Christine Mundkur | Director | May 20, 2026 A | 254,493 | 0 | 0 | $0 |
| Ronald J Consiglio | Director | May 20, 2026 A | 132,342 | 0 | 0 | $0 |
| Kent Kresa | Director | May 15, 2024 A | 274,541 | 0 | 0 | $0 |
| Henry L Nordhoff | Director | May 14, 2019 A | 103,426 | 0 | 0 | $0 |
| David Maccallum | Director | May 16, 2018 A | 114,790 | 0 | 0 | $0 |
| Matthew J Pfeffer | Director | Aug. 28, 2017 F | 81,961 | 0 | 0 | $0 |
| Abraham E Cohen | Director | Aug. 17, 2012 S | 56,424 | 0 | 0 | $0 |
| Heather Hay Murren | Director | Aug. 13, 2008 A | 10,100 | 0 | 0 | $0 |
| Kathleen Connell | Director | May 25, 2006 A | · | 0 | 0 | $0 |
| Llew Keltner | Director | May 25, 2006 A | · | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 29 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| JSMD · Janus Detroit Street Trust | 0.62% | 1,678,187 NS | July 31, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.50% | 29,891 SH | Oct. 1, 2026 | Daily |
| JSML · Janus Detroit Street Trust | 0.49% | 450,643 NS | July 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.37% | 1,212,660 NS | July 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.23% | 289,432 NS | July 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.12% | 409,547 NS | July 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.08% | 2,264,902 SH | Sept. 11, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.08% | 22,737 SH | Oct. 1, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.08% | 330,117 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.08% | 2,877,921 SH | Sept. 11, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.07% | 109,855 NS | July 31, 2026 | N-PORT |
| PWS · Pacer Funds Trust | 0.06% | 3,954 NS | July 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.05% | 333,357 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 1,771,496 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 147,059 NS | July 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.04% | 96,772 SH | Sept. 11, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 7,845,946 SH | Sept. 11, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 874,372 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 139,696 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 3,543,398 SH | Aug. 19, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 16,637 SH | Sept. 11, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 23,700 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 465,405 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 84,120 SH | Sept. 10, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 58,407 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 11,291 NS | July 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 9,327,332 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 26,184 SH | Aug. 19, 2026 | Daily |
| ISCB · iShares Trust | · | 13,557 SH | Sept. 11, 2026 | Daily |
MNKD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 14 analysts
BUY
Median target
$7.50
+97.4%
4 28.6%
Strong Buy
8 57.1%
Buy
2 14.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
8 analysts · 2026-09-28Mean target $7.97 +109.7%
← Below all targets
Current price $3.80
Low$4.75
Mean$7.97
High$13.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MNKD | $1.75B | 283.5 | 22.2% | 1.7% | -11.1% | · |
| ORIC | $806M | -5.6 | · | · | -36.5% | · |
| DMRA | · | · | 38.3% | -17981.1% | -167.0% | · |
| REPL | $633M | -2.3 | · | · | -146.2% | · |
| TRAX | · | · | · | · | · | · |
| BCAX | $953M | -6.7 | · | · | -33.0% | · |
| VOR | $506M | -0.2 | · | · | 83.4% | · |
| MGTX | $645M | -5.6 | 144.6% | -140.3% | 8062.2% | · |
| JANX | $833M | -7.5 | -5.5% | -1136.2% | -11.7% | · |
Latest News Recent headlines mentioning this company
Wells Fargo Calls MannKind Corporation (MNKD)’s Commercial Potential a “Show-Me Story”
Yahoo Finance · 3 months, 2 weeks ago
MannKind (MNKD) Advances Clinical Trials for Inhaled IPF Therapy
Yahoo Finance · 3 months, 3 weeks ago
H.C. Wainwright and Wells Fargo Lift MannKind (MNKD) Price Targets
Yahoo Finance · 4 months, 2 weeks ago
Is MannKind Corporation (MNKD) One of the Popular Penny Stocks on Robinhood to Buy?
Yahoo Finance · 6 months ago
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
No open signal right now — no card is filled, and that's honest.
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Source: SEC 10-Q filed Aug 5, 2026