UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

MannKind Corporation

(Exact name of registrant as specified in its charter)

Delaware		000-50865		13-3607736
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

28903 North Avenue Paine Valencia, California (Address of principal executive offices)				91355 (Zip Code)

Registrant’s Telephone Number, Including Area Code: (661) 775-5300

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 2.02 Results of Operations and Financial Condition

On May 5, 2008, MannKind Corporation issued a press release announcing its financial results for the first quarter of 2008. A copy of the press release is attached as Exhibit 99.1 to this Current Report and is incorporated herein by reference.

The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits. The following exhibit is furnished herewith:

99.1		Press Release of MannKind Corporation dated May 5, 2008, reporting MannKind’s financial results for the first quarter of 2008.

SIGNATURE

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 5, 2008

EXHIBIT INDEX

Number Description

99.1		Press Release of MannKind Corporation dated May 5, 2008, reporting MannKind’s financial results for the first quarter of 2008.

Exhibit 99.1

Company Contact:
Matthew Pfeffer
Chief Financial Officer
661-295-4784
mpfeffer@mannkindcorp.com

MANNKIND CORPORATION REPORTS FIRST QUARTER FINANCIAL RESULTS

- Conference Call Today at 5:00 p.m. EDT -

VALENCIA, Calif., May 5, 2008 – MannKind Corporation (Nasdaq: MNKD) today reported financial results for the first quarter ended March 31, 2008.

For the first quarter of 2008, total operating expenses were $74.1 million, compared to $77.3 million for the first quarter of 2007. Research and development (R&D) expenses decreased by $5.3 million to $58.4 million for the first quarter of 2008 compared to the first quarter of 2007, primarily due to lower clinical trial costs and associated packaging costs for clinical materials, partially offset by higher stock compensation expense. General and administrative (G&A) expenses increased by $2.1 million to $15.6 million for the first quarter of 2008 compared to the first quarter of 2007 primarily due to additional patent expenses.

The net loss applicable to common stockholders for the first quarter of 2008 was $71.4 million, or $0.70 per share based on 101.4 million weighted average shares outstanding, compared with a net loss applicable to common stockholders of $73.1 million, or $1.00 per share based on 73.4 million weighted average shares outstanding for the first quarter of 2007.

Cash and cash equivalents were $269.1 million at March 31, 2008 and $368.3 million at December 31, 2007.

Conference Call

MannKind management will host a conference call to discuss these results today at 5:00 p.m. EDT. To participate in the call, please dial (800) 857-0373 or (210) 839-8507. To listen to the call via the internet, please visit www.mannkindcorp.com. The web site replay will be available for 14 days. A telephone replay will be accessible for approximately 14 days following completion of the call by dialing (866) 457-6651 or (203) 369-1300.

Presenting from the Company will be:

	-		Chairman and Chief Executive Officer Alfred Mann
	-		President and Chief Operating Officer Hakan Edstrom
	-		Corporate Vice President and Chief Financial Officer Matthew Pfeffer
	-		Corporate Vice President and Chief Scientific Officer Peter Richardson

About MannKind Corporation

MannKind Corporation (Nasdaq: MNKD) focuses on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer. Its lead product, the Technosphere^® Insulin System, is currently in Phase 3 clinical trials in the United States, Europe and Latin America to study its safety and efficacy in the treatment of diabetes. For more information on MannKind Corporation and its technology, visit www.mannkindcorp.com.

(Tables to follow)

MannKind Corporation
Condensed Statements of Operations
(Unaudited)
(in thousands, except per share amounts)

		Three Months Ended March 31,
		2008				2007
Revenue		$	20			$	10
Operating expenses:
Research and development			58,445				63,788
General and administrative			15,640				13,550
Total operating expenses			74,085				77,338
Loss from operations			(74,065	)			(77,328	)
Other income			60				52
Interest expense on senior convertible notes			(337	)			(1,145	)
Interest income			2,921				5,280
Loss before provision for income taxes			(71,421	)			(73,141	)
Income taxes			—				—
Net loss applicable to common stockholders		$	(71,421	)		$	(73,141	)
Net loss per share applicable to common stockholders — basic and diluted		$	(0.70	)		$	(1.00	)
Shares used to compute basic and diluted net loss per share applicable to common stockholders			101,409				73,388

MannKind Corporation
Condensed Balance Sheets
(Unaudited)
(in thousands)

		March 31,				December 31,
		2008				2007
Assets
Current assets:
Cash and cash equivalents		$	269,079			$	368,285
State research and development tax credit exchange receivable – current			—				831
Prepaid expenses and other current assets			8,004				9,596
Total current assets			277,083				378,712
Property and equipment – net			185,895				162,683
State research and development tax credit exchange receivable - - net of current portion			1,875				1,500
Other assets			549				548
Total		$	465,402			$	543,443
Liabilities and Stockholders’ Equity
Current liabilities		$	55,447			$	67,558
Other liabilities			—				24
Senior convertible notes			111,882				111,761
Stockholders’ equity			298,073				364,100
Total		$	465,402			$	543,443

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