MannKind (MNKD) investors have had an interesting weekend. On Friday, March 29, 2019, the company filed (after-hours) a $500 million shelf registration. This was followed by a pre-market announcement on April 1, 2019 that the company was in receipt of a $12.5 million milestone payment from United Therapeutics (UTHR) relating to dry powder inhaled treprostinil, which I have dubbed Dryvaso.
Let's deal with these matters in order. The Friday evening news relates to the renewal of a $500 million shelf offering by MannKind. Within the filing, the company registered the