Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In reviewing MannKind Corporation's latest financial performance and strategic initiatives, the company presents a nuanced investment outlook characterized by both opportunities and challenges.</li><li>MannKind reported a revenue increase of 6% year-over-year for the second quarter of 2025, with $77 million in total, and $155 million year-to-date, marking a 12% growth compared to the previous year.</li><li>This growth was primarily driven by Tyvaso DPI royalties, which rose by 22%, contributing $31 million in the second quarter.</li></ul>

In reviewing MannKind Corporation's latest financial performance and strategic initiatives, the company presents a nuanced investment outlook characterized by both opportunities and challenges.MannKind reported a revenue increase of 6% year-over-year for the second quarter of 2025, with $77 million in total, and $155 million year-to-date, marking a 12% growth compared to the previous year.This growth was primarily driven by Tyvaso DPI royalties, which rose by 22%, contributing $31 million in the second quarter.

MannKind Buys scPharmaceuticals For $360 Million Bet: Can This Transform Its Future In Cardiorenal Care?

Global Healthcare Analyst

Tina Banerjee

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<a href="https://www.smartkarma.com/entities/mannkind-corp" target="_blank" data-smartkarma-citation="entities:3629:1" rel="noopener">Mannkind Corp (MNKD US)</a> has multiple revenue stream, with two marketed products. Flagship drug Afrezza, an inhaled insulin recorded 11% YoY revenue growth to $10.8M in Q3.</li>
<li>Due to high R&amp;D and SG&amp;A expenses, Mannkind records operating loss. However, gross profit margin is improving, with Afrezza gross margin improving to 81% in 3Q22 from 61% in 3Q21.</li>
<li>Mannkind’s inhaled clofazimine (MNKD 101) is advancing to Phase 2/3 study for potential treatment of nontuberculous mycobacterial (NTM) lung disease. ~86K people in US are living with NTM lung disease.</li>
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Mannkind Corp (MNKD US) has multiple revenue stream, with two marketed products. Flagship drug Afrezza, an inhaled insulin recorded 11% YoY revenue growth to $10.8M in Q3.
Due to high R&amp;D and SG&amp;A expenses, Mannkind records operating loss. However, gross profit margin is improving, with Afrezza gross margin improving to 81% in 3Q22 from 61% in 3Q21.
Mannkind’s inhaled clofazimine (MNKD 101) is advancing to Phase 2/3 study for potential treatment of nontuberculous mycobacterial (NTM) lung disease. ~86K people in US are living with NTM lung disease.


Mannkind Corp (MNKD US): Stable Revenue Stream; High Hope for MNKD 101 for Rare Lung Disease

United States

MannKind Corporation operates as a biopharmaceutical company. The Company focuses on the development and commercialization of therapeutic products such as diabetes, cancer, inflammatory, and autoimmune diseases. MannKind lead investigational product candidate is the technosphere insulin system.

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Mannkind Corp (MNKD US)

MannKind Buys scPharmaceuticals For $360 Million Bet: Can This Transform Its Future In Cardiorenal Care?

In reviewing MannKind Corporation's latest financial performance and strategic initiatives, the company presents a nuanced investment outlook...

Baptista Research

Mannkind Corp (MNKD US): Stable Revenue Stream; High Hope for MNKD 101 for Rare Lung Disease

Mannkind’s flagship inhaled insulin Afrezza reports double-digit revenue growth, with expanding gross profit margin. Drug candidate MNKD 101 is...

Tina Banerjee

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