MannKind Corporation (NASDAQ:MNKD) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET

Company Participants

Michael Castagna - CEO
Chris Prentiss - CFO

Conference Call Participants

Andreas Argyrides - Oppenheimer
Olivia Brayer - Cantor Fitzgerald
Faisal Khurshid - Leerink Partners
Anish Nikhanj - RBC Capital Markets
Brandon Folkes - Rodman & Renshaw

Operator

Good afternoon, and welcome to the MannKind Corporation Third Quarter 2024 Financial Results Earnings Call. As a reminder, this call is being recorded on November 7th, 2024, and will be available on the MannKind Corporation website shortly after the conclusion of this call and available for approximately 90 days.

This call will contain forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, which can cause actual risk to differ materially from those stated expectations. For further information on the company's risk factors, please see the 10-Q Report filed with the Security and Exchange Commission this morning, the earnings release, and the slides prepared for this presentation.

Joining us today for MannKind are Chief Executive Officer, Michael Castagna and Chief Financial Officer, Chris Prentiss. I'd now like to turn the conference over to Mr. Costanza. Please go ahead, sir.

Michael Castagna

Thank you, Operator, and to our entire MannKind team for all the accomplishments we've had this quarter. I've never been more excited and energized about our opportunities to grow MannKind over the coming years. Today, I'll open up with operational and pipeline highlights, followed by Chris giving a financial overview with closing remarks, going to Q&A.

As we look at our third quarter highlights, Tyvaso DPI collaboration continues to be record-setting revenue and expansion opportunities as we look at our manufacturing revenue and continued opportunities with Tyvaso in IP. We're super excited by the continued strong collaboration with United Therapeutics. And now as we start to migrate from just the Tyvaso DPI and Afrezza, the pipeline is emerging as one of our focuses this year.

And we're excited by the readouts in nintedanib Phase 1 here. We just completed the Phase 1 that we announced this week, as well as our Clofazamine Inhalation study is well under its way in Phase 3 site activations where we have ongoing opportunities here in the U.S. as well as Asia as we're starting that trial. The EBU net revenue for the quarter was $20 million or 10% versus last year.

And we saw Afrezza overall for the year slightly impacted by headwinds throughout the first three quarters as we focused on profitable growth by realigning our salesforce back in Q1. As we look in Q4, we're looking to accelerate our growth on Afrezza in 2025. And the early indicator here are some of the changes we made that I'll talk about here where we have 8% growth in NRx year-over-year.