MannKind Earns $50 Million in Milestone Payments From Sanofi
January 08 2015 - 7:00AM
MannKind Corporation (Nasdaq:MNKD) today announced
that it has earned a total of $50 million in milestone payments in
connection with the satisfaction of manufacturing milestones
specified in its collaboration and licensing agreement with Sanofi.
Pursuant to the agreement, MannKind previously received a $150
million upfront payment and is eligible to earn up to $725 million
in further development, regulatory and sales milestones, and is
also eligible to receive a share of profits on sales of Afrezza.
About MannKind Corporation
MannKind Corporation (Nasdaq:MNKD) focuses on the discovery,
development and commercialization of therapeutic products for
patients with diseases such as diabetes. MannKind maintains a
website at www.mannkindcorp.com to which MannKind regularly posts
copies of its press releases as well as additional information
about MannKind. Interested persons can subscribe on the MannKind
website to e-mail alerts that are sent automatically when MannKind
issues press releases, files its reports with the Securities and
Exchange Commission or posts certain other information to the
website.
CONTACT: Matthew J. Pfeffer
Chief Financial Officer
661-775-5300
mpfeffer@mannkindcorp.com
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