MannKind, Backed By Blackstone, Expands Cardiorenal Focus With $360 Million Deal

Author: Vandana Singh | August 25, 2025 12:57pm

MannKind Corporation (NASDAQ:MNKD) on Monday agreed to acquire scPharmaceuticals Inc. (NASDAQ:SCPH) for a deal value of up to approximately $360 million, or $5.35 per share.

The deal marks MannKind’s strategic expansion into cardiorenal medicine, establishing its cardiometabolic business alongside its orphan lung division. It is also made possible on the heels of MannKind’s $500 million strategic financing agreement with Blackstone.

ScPharmaceuticals currently markets Furoscix, an FDA-approved on-body infuser delivering furosemide to treat fluid overload in adult patients with chronic heart failure (CHF) and chronic kidney disease (CKD).

The estimated total addressable market opportunity equates to more than $10 billion in the U.S. alone.

For the six months ended June 30, net sales totaled $27.8 million, up 96% year-over-year.

The Furoscix ReadyFlow Autoinjector is on track for a Q3 2025 supplemental New Drug Application (sNDA) submission. It aims to enable patients to reduce treatment time from five hours to less than 10 seconds.

“This acquisition expands our patient-centered brands and highlights MannKind’s dedication to delivering innovative therapies for cardiometabolic and orphan lung diseases,” said MannKind CEO Michael Castagna. “With multiple anticipated product launches and indication expansions, we expect to continue to diversify our revenue streams and accelerate our double-digit growth goals over the next decade.”

The combined company will own Afrezza, Furoscix, and V-Go. Combined with Tyvaso DPI-related revenues, these commercial products result in an annualized run rate of over $370 million, based on the second-quarter 2025 earnings.

Separately, MannKind is advancing a late-stage pipeline that includes:

• Inhaled Clofazimine (MNKD-101), currently in a phase 3 global study for nontuberculous mycobacterial (NTM) lung disease
• Nintedanib DPI (MNKD-201), expected to initiate a phase 2 clinical trial for IPF by year-end 2025.

Price Action: SCPH stock is up 15.36% at $5.59, and MNKD stock is down 4.50% at $3.93 at the last check on Monday. 

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Posted In: MNKD SCPH