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mannkind Q2 2026 Financial Results & Business Update August 5 , 2026 © Copyright 2026. All rights reserved . MannKind Corporation .
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© Copyright 2026. All rights reserved. MannKind Corporation. /2 5 August 2026 Cautionary Statement © Copyright 2026. All rights reserved. MannKind Corporation.2 Statements in this presentation that are not statements of historical fact are forward-looking statements that involve risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intend”, “will”, “goal”, “potential” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon MannKind’s current expectations. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of risks and uncertainties, which include, without limitation, risks associated with manufacturing and supply, risks associated with developing product candidates, stock price volatility and other risks detailed in our filings with the Securities and Exchange Commission (“SEC”), including under the “Risk Factors” heading our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 26, 2026, and subsequent periodic report on Form 10-Q and current reports on Form 8-K. You are cautioned not to place undue reliance on these forward-looking statements. which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this presentation.
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© Copyright 2026. All rights reserved. MannKind Corporation. /3 5 August 2026 Agenda Opening Remarks Business Updates Financial Results Closing Remarks Q&A Michael Castagna, PharmD Chief Executive Officer Chris Prentiss Chief Financial Officer 1 2 4 5 3
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© Copyright 2026. All rights reserved. MannKind Corporation.4 Business Updates © Copyright 2026. All rights reserved. MannKind Corporation.4
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© Copyright 2026. All rights reserved. MannKind Corporation.5 • Indication expansion • Unique value proposition addressing patient unmet needs • Compounds growth as adolescents age into adults • Reduces administration from hours to seconds via an autoinjector • Supports broader adoption • Will significantly reduce cost of goods • Urgent need for new, effective therapies in IPF • Lung targeted delivery addresses IPF tolerability barriers • Positive Phase 1b results validate continued Phase 2 advancement Furoscix ReadyFlow Nintedanib DPI Major Catalysts Driving 2026 & Beyond Afrezza® Pediatrics PDUFA May 29 Ph1b READOUT Q3. APPROVED APPROVED
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© Copyright 2026. All rights reserved. MannKind Corporation. /6 5 August 2026 Q2 2026: Beyond the Catalysts • Afrezza pediatric launch off to a strong start — top 20 key target institutions have all written a prescription – Breakthrough T1D grant awarded to advance the INHALE-1ST trial • Furoscix®: strong revenue growth (+43%) over Q1 • Enrollment underway in the nintedanib DPI global Phase 2 INFLO-2 study • Tyvaso DPI® is being pursued by United Therapeutics for additional fibrotic indications • Ralinepag DPI on track for IND filing by year-end; $5M milestone payment received from United Therapeutics © Copyright 2026. All rights reserved. MannKind Corporation.6
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© Copyright 2026. All rights reserved. MannKind Corporation. /7 5 August 2026 Q2 2026 Revenues $ 90 $ 109 Q1 2026 Q2 2026 Total Revenue (in Millions, Rounded) +21% $31 $39 Q1 2026 Q2 2026 Marketed Products* $33 $32 Q1 2026 Q2 2026 Royalties +27% -1% * Marketed products includes Afrezza and Furoscix.
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© Copyright 2026. All rights reserved. MannKind Corporation. /8 5 August 2026 1H Revenue Mix Evolution Reflects Success of Diversification Strategy $94 $135 $- $20 $40 $60 $80 $100 $120 $140 $160 1H 2025 1H 2026 (M) Royalties Marketed Products* 35% 65% 48% 52% • Marketed products overtake royalties as top revenue source for first time • +111% year-over-year in MNKD commercial product revenue, rising from 35% to 52% of revenue mix • Furoscix drove the shift, adding a new franchise • Royalties remain a durable $65M base, +6% YoY * Excludes C&S revenue of ~$52 million in 2025 and ~$59 million in 2026 and V-Go® revenue of ~$8M in 2025 in ~$6M in 2026 +111%
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© Copyright 2026. All rights reserved. MannKind Corporation.9 Afrezza in Pediatrics © Copyright 2026. All rights reserved. MannKind Corporation.9
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Afrezza Now Approved for Pediatric Patients Living with Diabetes 6 Years and Older Differentiated clinical profile • Ultra-rapid onset and earlier peak — insulin action closer to how children actually eat and live day-to-day • Improved patient satisfaction • Demonstrated glycemic control • No safety signals observed Simplified mealtime management • Eliminates mealtime injections and simplifies administration • Supports true mealtime dosing without complex timing requirements Established experience and immediate access • Backed by more than a decade of clinical and commercial use • Available today for $35 or less* regardless of insurance coverage * Pediatric Bridge Program effective from 6/1/2026 to 12/31/2026; for eligible Commercial, Medicaid or cash pay patients and is available exclusively through MannKind Cares The first alternative to mealtime injections in 100+ years of pediatric treatments © Copyright 2026. All rights reserved. MannKind Corporation.10
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Why Afrezza in Pediatrics Is Different A concentrated, targetable market A D U L T >60,000 prescribers = 80% of RAA market (T1 and T2) P E D I A T R I C S <1,000 prescribers = 80% of pediatric Rx (T1 focus) A connected, patient-centric community A D U L T Prescriber-only target, limited surround sound P E D I A T R I C S Prescribers + caregivers, CDEs, school nurses, advocacy & influencers A stronger clinical foundation & KOL support A D U L T Launched largely on two pivotal trial publications P E D I A T R I C S INHALE-1, 10-yr safety & guidelines support An access model built for pediatrics A D U L T No contracting; HUB + retail not optimized for patients P E D I A T R I C S Commercial + Medicaid contracting to remove PA; $35 bridge program + HUB The first eight weeks since launch supports that these four pillars are driving a different uptake curve than in adults © Copyright 2026. All rights reserved. MannKind Corporation.11
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Marquee Adoption, With Substantial Runway Ahead Early volume is coming from the right places — and most of the opportunity remains Marquee institutions already prescribing The protocol-setting academic centers peers follow 1 in 3 Top 100 pediatric RAA writers have prescribed Afrezza 100% Top 20 priority accounts have written $35 Bridge Program is enabling new patient starts Source: IQVIA NPI (top-100 peds RAA writers, RAA TRx L12M, thru 7/17) + ELUSA HUB (Afrezza peds writers / phased accounts, thru 7/31). © Copyright 2026. All rights reserved. MannKind Corporation.12
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Media credibility is fueling real-world engagement, social conversations, and pull-through © Copyright 2026. All rights reserved. MannKind Corporation.13 Media Coverage Converting into Early Momentum NATIONAL AWARENESS >1.2K total broadcast stories aired in greater than 200 markets in all 50 U.S. states Broad visibility sparked awareness, social conversation, and momentum unlike anything the brand has previously experienced AWARENESS BECOMES ACTION “ The moment I learned it had been approved for children I was on a mission to get my hands on it. Parent living with T1D and raising a child with T1D HCP DEMAND SIGNAL “ I’ve been waiting my entire career for inhaled insulin to make it into kids. Healthcare practitioner on pediatric approval
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Innovation Roadmap in Afrezza High Concentration Afrezza Potential for up to a 20-unit cartridge, enabling entry into the type 2 patient population 2026 2027 2028 Updated FDA approved dose conversion ADA guideline support Afrezza pediatric indication approval Afrezza 2-unit cartridge Anticipated approval INHALE IQ Anticipated product launch Product Development, Digital Advancements and Global Expansion Roadmap 14 © Copyright 2026. All rights reserved. MannKind Corporation.
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© Copyright 2026. All rights reserved. MannKind Corporation.15 Furoscix © Copyright 2026. All rights reserved. MannKind Corporation.15
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© Copyright 2026. All rights reserved. MannKind Corporation. /16 5 August 2026 EARLY INTERVENTION When fluid overload first presents, use Furoscix: • At the first signs of worsening congestion • When oral diuretic escalation is not effective • As an alternative to IV diuretics in hospital or outpatient setting Furoscix Can Address Fluid Overload Across the Patient Journey ~1M Addressable Fluid Overload Events Annually STABLE PATIENT TREATED AT HOME WITH ORAL DIURETIC POST-HOSPITAL DISCHARGE Use Furoscix to: • Discharge early and resolve residual congestion at home • Treat relapse congestion at home to potentially reduce avoidable 30-day readmissions
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© Copyright 2026. All rights reserved. MannKind Corporation.17 Since Q1, MannKind Advanced Key Furoscix Growth Opportunities Limited Hospital Presence Increase IDN engagement to drive stronger hospital pull-through Diluted Salesforce Focus Sharpen cardiology and nephrology specialty focus to expand impact Under-funded Marketing Spend Increase marketing investment Identified Challenges Opportunities 1 2 3 +36% QoQ IDN Growth (Q2 2026 vs. Q1 2026 ) +67% QoQ Nephrology Growth (Q2 2026 vs. Q1 2026 ) Now FDA Approved
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© Copyright 2026. All rights reserved. MannKind Corporation. /18 5 August 2026 Furoscix ReadyFlow Now Approved The first and only IV-equivalent diuretic delivered via autoinjector Designed for at-home intervention • Treats fluid overload in adults with HF or CKD outside the hospital setting • May support earlier intervention beyond the hospital – across outpatient, post-discharge and home-based care settings IV-equivalent performance • Full 80 mg/mL dose delivered in under 10 seconds via a simple autoinjector • Demonstrated equivalent urine output, sodium excretion and potassium excretion to IV furosemide • Safety profile consistent with oral and IV furosemide • Symptom relief may begin in an hour or less Available by end of August 2026
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© Copyright 2026. All rights reserved. MannKind Corporation. Furoscix ReadyFlow Launch Campaign is Built to Drive Immediate Awareness and Adoption 19 Field activation begins immediately • Sales force launch training and deployment underway • Integrated HCP and patient campaign ready across digital, field and point-of-care channels • Major cardiology and nephrology conferences provide opportunities to build awareness and engage priority HCPs
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© Copyright 2026. All rights reserved. MannKind Corporation.20 Nintedanib DPI © Copyright 2026. All rights reserved. MannKind Corporation.20
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© Copyright 2026. All rights reserved. MannKind Corporation.21 Highlights ✓ Positive Phase 1b study demonstrated safety and tolerability in patients with IPF • No serious adverse events • No GI burden • No discontinuations • No difference in spirometry parameters between placebo (empty cartridge) and nintedanib DPI ✓ Phase 2 global study underway • First patient dosed; enrollment ramping through 2026 © Copyright 2026. All rights reserved. MannKind Corporation.21
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© Copyright 2026. All rights reserved. MannKind Corporation.22 Cmax Drives Efficacy in Pulmonary Fibrosis References: Surber MW, Beck S, Pham S, et al. Pulm Pharmacol Ther. 2020;63:101938; Epstein-Shochet G, Pham S, Beck S, et al. Pulm Pharmacol Ther. 2020;63:101933. • Cmax, not AUC, drives nintedanib efficacy — hitting a threshold peak concentration matters more than total lung exposure • Beyond that peak, more exposure adds little — large oral-derived tissue levels contribute minimal extra anti-fibrotic benefit • Brief, high peaks are sufficient — short bursts of high concentration were sufficient to inhibit fibrotic pathways
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© Copyright 2026. All rights reserved. MannKind Corporation. /23 5 August 2026 8.64 1.08 12.2 1.94 29.4 3.11 0 5 10 15 20 25 30 35 Nintedanib DPI Nebulized Nintedanib ng/mL 2mg 4mg 8mg Phase 1a: Validated Efficient Deep-Lung Delivery of Nintedanib DPI *Results for 8 mg Nintedanib DPI are from the 8 mg SAD Cohort (i.e., Day -1); Reference: Fares and Castagna. Safety and Pharmacokinetic Data for Inhaled Administration of Nintedanib Dry Powder Inhalation for Treatment of Pulmonary Fibrotic Diseases; J Aerosol Med Pulm Drug Deliv. 2026 Aug;39(4):185-197. Day 7 Rapid, dose-proportional exposure and favorable safety findings supported advancement into IPF patient studies * MannKind Phase 1a Study Published Nebulized Study
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© Copyright 2026. All rights reserved. MannKind Corporation.24 STUDY DESIGN BASELINE CHARACTERISTICS INFLO-1 Phase 1b: First-in-Patient Study to Assess Safety, Tolerability and Pharmacokinetics COHORT 1 2 mg TID (N=12) COHORT 2 4 mg BID (N=15) Safety Data Review (Sponsor & External DSMB) Multiple-Ascending Dose (7 Days) | 2:1 Randomization Early Safety Data First-in-patient safety readout in idiopathic pulmonary fibrosis Pulmonary Tolerability Short-term pulmonary safety & tolerability profile 01 02 Objectives Mean age 73.0 years (SD 6.9) FEV₁ FVC Liters 2.02 (SD 0.397) Liters 2.61 (SD 0.556) Overall Total (N=27) Female 37% n=10 Pulmonary Function at Baseline
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© Copyright 2026. All rights reserved. MannKind Corporation.25 Phase 1b: A Clean Safety Profile in First IPF Study 0 Safety Signals None of the diarrhea, nausea or vomiting that limits oral nintedanib (OFEV®) 0 Bronchospasms A known risk for inhaled powders — none observed, even in fibrotic lungs 0 Discontinuations Where current oral therapies see discontinuation rates as high as 50% A tolerability profile built for chronic use – de-risking the program as it advances into Phase 2
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© Copyright 2026. All rights reserved. MannKind Corporation.26 Phase 1b: TEAEs Show Limited Non-Cough Events TEAEs by Pooled Treatment Group Percentage of participants reporting event Beyond cough, each active-arm TEAE supports a clean broader tolerability profile in Phase 1b Adverse Event Pooled Placebo (n=9) Pooled Active (n=18) Cough 0 7 (39%) Dry mouth 0 1 (6%) Muscle spasm 1 (11%) 0 Dizziness 0 1 (6%)
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© Copyright 2026. All rights reserved. MannKind Corporation.27 Phase 1b Cough: No Discontinuations, No Severe Events ~60% of patients had NO cough (11 of 18 on active drug) THE PHASE 1b SUMMARY • ~90% of patients had no cough or a mild cough event (Grade 1); none were severe (Grade ≥3) • Cough typically follows the first dose and does not worsen with continued use • No cough-related discontinuations and no serious AEs • No dose reductions after over ~450 inhalations administered over 7 days PROVEN PLATFORM: Technosphere® powder in two FDA-approved DPI products, with clinical data showing <3% discontinuation due to cough. ~30% No severe cough of patients had a mild cough 0 0 serious AEs discontinuations from cough
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© Copyright 2026. All rights reserved. MannKind Corporation.28 Financial Results © Copyright 2026. All rights reserved. MannKind Corporation.28
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Q2 2026 Revenue Momentum © Copyright 2026. All rights reserved. MannKind Corporation.29 $78 $77 $155 $90 $109 $200 Q1 Q2 1H Net Revenue (M) 2025 2026 Afrezza • $17.0M Q2 net sales • Limited pediatric contribution following May 29 approval Furoscix • $22.2M Q2 net sales • +43% sequential growth from Q1 2026 United Therapeutics Revenue Streams • $32.4M royalties, +4% from Q2 2025 • $35M collaborations & services, +53% from Q2 2025 +15% +43% +29%
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© Copyright 2026. All rights reserved. MannKind Corporation. /30 5 August 2026 GAAP to Non-GAAP Reconciliation Q2 2025 Q2 2026 GAAP reported net income (loss) $668 $(19,032) Stock compensation 7,520 10,226 Interest expense on liability for sale of future royalties 3,473 510 Sold portion of royalty revenue* (3,123) (3,237) Loss (Gain) on foreign currency transaction 5,363 (486) Amortization of intangible assets acquired - 4,367 Change in fair value of contingent consideration - 4,992 Non-GAAP adjusted net income (loss) $13,901 $(2,660) ($ in Thousands) * Please refer to the 10-Q for full royalty revenue details.
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© Copyright 2026. All rights reserved. MannKind Corporation. /31 5 August 2026 Upcoming Investor Conferences Wells Fargo 21st Annual Healthcare Conference Boston September 9 Cantor Global Healthcare Conference 2026 New York September 10 H.C. Wainwright 28th Annual Global Investment Conference New York September 15
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© Copyright 2026. All rights reserved. MannKind Corporation.32 Closing Remarks © Copyright 2026. All rights reserved. MannKind Corporation.32
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© Copyright 2026. All rights reserved. MannKind Corporation.33 • Indication expansion • Unique value proposition addressing patient unmet needs • Compounds growth as adolescents age into adults • Reduces administration from hours to seconds via an autoinjector • Supports broader adoption • Will significantly reduce cost of goods • Urgent need for new, effective therapies in IPF • Lung targeted delivery addresses IPF tolerability barriers • Positive Phase 1b results validate continued Phase 2 advancement Furoscix ReadyFlow Nintedanib DPI Major Catalysts Driving 2026 & Beyond Afrezza® Pediatrics PDUFA May 29 Ph1b READOUT Q3. APPROVED APPROVED
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© Copyright 2026. All rights reserved. MannKind Corporation. /34 5 August 2026 Upcoming Scientific Conferences ADCES Aug. 7-10 / Columbus, OH HFSA Oct. 9-12 / Phoenix ASN Oct. 21-25 / Denver ISPAD Nov. 4-7 / Rio de Janeiro AHA Nov. 7-9 / Chicago
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© Copyright 2025. All rights reserved. MannKind Corporation.35 Q&A Contact: ir@mnkd.com