ADARx Pharmaceuticals, Inc.

Steven B. Binder announces planned retirement and is appointed Executive Vice President, Special Projects, effective April 22, 2024, through December 31, 2024Christopher Prentiss appointed Chief Financial Officer, effective April 22, 2024 DANBURY, Conn. and WESTLAKE VILLAGE, Calif., March 26, 2024 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD), a company focused on the development and commercialization of inhaled therapeutic products and devices for patients with endocrine and orphan lung diseases, announced today that Steven B. Binder will retire from his position as Chief Financial Officer, effective April 22, 2024. Mr. Binder plans to remain at MannKind through the end of the year as Executive Vice President, Special Projects. Christopher Prentiss has been appointed as Chief Financial Officer, effective April 22, 2024. Mr. Prentiss will be a member of MannKind’s executive leadership team and will report to Michael Castagna, Chief Executive Officer. “We are excited to have Chris join us at such a pivotal time as our new CFO,” said Michael Castagna, PharmD., Chief Executive Officer for MannKind Corporation. “Chris will be responsible for ensuring we maintain our fiscal discipline as we continue to deleverage the balance sheet and invest behind our growth opportunities in the coming years.” “At the same time, we are deeply grateful for the vision, dedication, and leadership Steve has provided our company during his tenure at MannKind,” continued Castagna. “Steve’s fiscal stewardship has guided our recapitalization, helped us record nearly $200 million total revenue last year, helped us achieve profitability in recent quarters and bolstered the balance sheet with over $300 million in cash and investments at the end of 2023. We are pleased that Steve will remain with MannKind for the rest of 2024, allowing for an optimal transition with Chris.” “I look forward to working with Chris and remain totally committed to MannKind’s continued success,” said Steve Binder, Chief Financial Officer. “Together, we plan to help the leadership team deliver on our 2024 milestones, build shareholder value and achieve our MannKind mission.” Chris has over 20 years of experience serving in financial leadership positions within the biopharma industry in both private and public companies. Since September 2022, Mr. Prentiss has served as Chief Financial Officer of ADARx Pharmaceuticals, Inc., a privately held clinical-stage biotechnology company, where he helped to raise nearly $250 million in funding. Between April 2015 and November 2021, he held a series of finance positions of increasing responsibility at the commercial-stage biotech company Adamas Pharmaceuticals, Inc., culminating in Chief Financial Officer. His responsibilities at Adamas included finance, accounting, investor relations, information technology and facilities. During his tenure, the company launched GOCOVRI® (in 2018) as well as acquired OSMOLEX® ER. At the time Adamas was acquired by Supernus Pharmaceuticals, Inc. in 2021, it had an annual revenue run rate of approximately $100 million. His earlier career also included senior financial roles at InterMune, Inc., Dynavax Technologies Corporation and MannKind. Mr. Prentiss began his career in the assurance practice at KPMG LLP. A licensed CPA (inactive) in California, he earned his Bachelor of Science degree in Accounting from Loyola Marymount University and an MBA from Indiana University’s Kelley School of Business. About MannKindMannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative therapeutic products and devices to address serious unmet medical needs for those living with endocrine and orphan lung diseases. We are committed to using our formulation capabilities and device engineering prowess to lessen the burden of diseases such as diabetes, pulmonary arterial hypertension (PAH) and nontuberculous mycobacterial (NTM) lung disease. Our signature technologies – dry-powder formulations and inhalation devices – offer rapid and convenient delivery of medicines to the deep lung where they can exert an effect locally or enter the systemic circulation. With a passionate team of Mannitarians collaborating nationwide, we are on a mission to give people control of their health and the freedom to live life. Please visit mannkindcorp.com to learn more, and follow us on LinkedIn, Facebook, Twitter or Instagram. Forward-Looking Statements This press release contains forward-looking statements about the expected tenure of executives, maintaining financial discipline, deleveraging MannKind’s balance sheet, investing in growth opportunities, delivering on milestones, building shareholder value and achieving MannKind’s mission that involve risks and uncertainties. Words such as “believes”, “anticipates”, “plans”, “expects”, “intends”, “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 various risks and uncertainties, which include, without limitation, the risks that our results of operations will fluctuate for the foreseeable future and that we may incur losses and may not generate positive cash flow from operations in the future, risks related to the “at will” relationship between us and our current and future employees, risks of a loss of continuity and accumulated knowledge and of inefficiency during a transitional period, and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including under the “Risk Factors” heading of its Annual Report on Form 10-K for the year ended December 31, 2023. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and MannKind undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release. GOCOVRI and OSMOLEX ER are registered trademarks of Supernus Pharmaceuticals, Inc. MANNKIND is a registered trademark of MannKind Corporation.

SAN DIEGO--(BUSINESS WIRE)-- ADARx Pharmaceuticals Inc. (ADARx), a clinical stage biotechnology company developing next generation RNA therapeutics, today announced that Zhen Li, PhD, Co-Founder, President and CEO, will host one-on-one investor meetings at the 44th Annual Cowen Healthcare Conference on Monday, March 4, 2024 in Boston, Massachusetts. About ADARx Pharmaceuticals ADARx Pharmaceuticals, Inc. is a clinical stage biotechnology company committed to turning cutting-edge science into life-saving therapeutics. ADARx has developed proprietary RNA delivery platforms and technology for silencing or editing target mRNA. ADARx has a growing pipeline of RNA therapeutics for treating diseases across a range of therapeutic areas including genetic, cardiovascular, complement-mediated and central nervous system diseases. Follow ADARx on LinkedIn.

ADARx Pharmaceuticals' fast-performing siRNA platform has catapulted the company toward new capital and external interest. 2023 has been a banner year for San Diego-based siRNA biotech ADARx Pharmaceuticals, with two assets jumping to the clinic and $200 million brought in through one of the largest private financing rounds of the year. Next year could be even bigger, as ADARx collects early data on clinical programs that have caught the eye of investors and Big Pharmas.  “The street has started to pay attention to us," CEO Zhen Li, Ph.D., told Fierce Biotech in an interview. ADARx has accrued the kind of momentum seen in many of the biotechs that have gone public so far in 2023. Li says the company is “considering [an] IPO but timing has not been decided yet.”  “Everyone tells us we can go but, you know, we have money, we have runway,” she said. “Everything is on the table. No decision has been made yet.”  Instead, ADARx is focused on launching a third clinical trial for a program targeting the angiotensinogen hormone in the first quarter of next year, according to Li. She didn’t expand on which indications the company would look at, but others in the space, like Ionis Pharmaceuticals, have aimed to treat hypertension by silencing the gene. Li also expects to file a new clinical trial application for the company’s lead central nervous system program next year, though it may not actually reach patients until 2025.  The potential trial schedule means that ADARx is not taking its foot off the gas after launching two programs into the clinic this year. Data are starting to roll in for the first trial, testing ADX-324 in patients with hereditary angioedema (HAE). Li says early data in healthy volunteers show “very deep knockdown” of prekallikrein proteins, which play a key role in HAE attacks. Part B of the trial, which will enroll HAE patients, is set to begin before the end of the year with a phase 2 trial on the docket for 2024.  “I think it's the data that really attracts the investors,” she said.  The data have also drawn interest from pharmaceutical companies. All four programs Li laid out are wholly owned, but, even with the $200 million financing, she and the ADARx team “can’t do it all.” She also alluded to an early target validation collaboration underway with an unnamed pharma.  “We are also considering early collaboration on some novel target that a pharma company has identified,” she said.