Dilution profile // every instrument, one screen, from SEC filings

MANNKIND CORP (MNKD)

CIK 899460 · all EDGAR filings →

Overall dilution risk
HIGHworst of 4 computed signals (offering ability)
= the worst band among the computed sub-ratings, no hidden weighting
Offering ability
HIGH$200M registered
= total registered offering amount from the fee exhibits of live registrations (bands: $1M / $20M)
registered capacity, not remaining: amounts already taken down are not subtracted yet
Overhead supply
LOWwarrants = 0% of O/S
= warrant shares outstanding divided by current shares outstanding (bands: 20% / 50%)
warrants only; converts, ATMs and equity lines are not in free structured data, so the true overhead is AT LEAST this
Historical dilution
LOW+20% O/S in 3y
= share count now vs 3 years ago (bands: 30% / 100%); a reverse split pushes this negative
a reverse-split-sized cliff is in this window; read the chart
Cash need
LOWoperating cash flow positive
= cash vs trailing operating burn (bands: 6mo / 24mo; positive operating CF = low)

Same rating bands the category standard uses, but free, with the formula on the chip and the gaps in the data said out loud.

Shares outstanding over time

2020-10-262026-07-24

Latest: 321.5M shares as of Jul 24, 2026 (10-Q). Share count fell from 478.4M to 95.8M between Nov 1, 2016 and Mar 10, 2017, a pattern consistent with a reverse split (roughly 1-for-5); simultaneous issuance can skew the raw ratio, so confirm in the filings. The red bar marks the cliff.

Cash runway

Self-funding

profitable · generates cash

Full breakdown: cash runway tool · source filing →

Warrants

TrancheWarrantsExercise priceTermNotes
Warrant Sharesnot tagged$0.01

Tranches exactly as the company dimensioned them in its 10-Q filed Aug 5, 2026. Groupings can overlap (a “Series E and F” row is not additive with a “Series E” row), so do not sum this column. A tranche the filer did not tag is absent here, not absent from the cap table. DOWN-ROUND = the filer tagged price-protection accounting scoped to that tranche.

Warrants outstanding: 32,000 underlying shares, as reported Dec 31, 2017 (10-K).

Reported exercise price: $1.11 (aggregate figure as tagged; individual tranches vary).

Balance-sheet fair value of warrants: $7.4M as of Dec 31, 2016.

Rough fully diluted estimate: 321.6M = 321.5M O/S + 32,000 warrant shares. An estimate, not a filing figure: it ignores converts, options and RSUs, and the two inputs carry different as-of dates.

Convertible notes

Convertible debt on the balance sheet: $36.3M as of Dec 31, 2025, tagged only as a company-wide total.

This filer tagged totals without per-note dimensions in its 10-Q filed Aug 5, 2026, so per-note terms (maturities, individual conversion prices) live in the exhibit prose and are not parsed here.

Fully diluted build-up

Shares outstanding plus every potential-share instrument the filer tagged in XBRL, each at its own as-of date. An estimate assembled from filed figures, not a filing figure itself.

Shares outstanding321.5MJul 24, 2026
+ Warrants (aggregate, as tagged) (if exercised)32,000Dec 31, 2017
Fully diluted estimate321.6M+0.0% vs O/S

Still excluded, because the filer does not tag them in countable form: employee options and RSUs, any instrument living only in exhibit prose, and instruments above missing a share count. Inputs carry different as-of dates, shown per row. Each figure traces to the tranche and note tables above and their cited filings.

Registrations and offerings

Registered offering capacity on live registrations: $200.0Mfrom the structured fee exhibits; registered is not remaining, takedowns are not subtracted

S-3ASRFeb 26, 2025$200.0M registeredfiling →

Last 12 months: 1 executed · 0 registered.

EXECUTEDJul 24, 2026Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDFeb 26, 2025Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDDec 18, 2024Unregistered share sale disclosed (8-K item 3.02)8-K
REGISTEREDFeb 24, 2022Automatic shelf registration — effective immediately (large filers)S-3ASR
EXECUTEDMar 5, 2021Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDDec 7, 2020Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDAug 7, 2019Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDJul 18, 2019Unregistered share sale disclosed (8-K item 3.02)8-K
EXECUTEDMay 7, 2019Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5
EFFECTIVEApr 5, 2019SEC declared a registration effective — selling can beginEFFECT
REGISTEREDMar 29, 2019S-3 registration — capacity to sell shares, not a sale yetS-3
EXECUTEDDec 21, 2018Shelf takedown priced — shares or notes (small-caps: usually shares; open the filing to confirm)424B5

Full history and shelf status: offering checker · S-3 shelf checker

Source: SEC EDGAR XBRL company facts and filing metadata, fetched live and cached briefly. Share counts are cover-page figures with their form named. Warrant tranches and convertible notes come from the dimensioned facts in the latest 10-Q/10-K instance document, exactly as the company tagged them; untagged tranches and notes are absent, not disproven. Nothing on this page is manually verified and nothing is behind a login: what free data supports is shown, what it cannot support is stated. Not investment advice.

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