MNKD 2017 Annual Report

Item 6. Selected Financial Data The following data has been derived from our audited financial statements, including the consolidated balance sheets at December 31, 2017 and 2016 and the related consolidated statements of operations for each of the three years ended December 31, 2017, 2016 and 2015 and related notes appearing elsewhere in this report. The consolidated statement of operations data for the years ended December 31, 2014 and 2013 and the consolidated balance sheet data as of December 31, 2015, 2014 and 2013 are derived from our audited consolidated financial statements that are not included in this report. Items that significantly impact the comparability among the periods presented include the following: • Long-lived asset, inventory impairments, and recognition of loss on purchase commitments in 2015, • Recognition of revenue, related costs and gain on extinguishment of debt related to the collaboration with Sanofi in 2016, and • Recognition of revenue related to commercial sales of Afrezza in 2016 and 2017. The selected financial data set forth below should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the audited consolidated financial statements, and the notes thereto, and other financial information included herein this Annual Report on Form 10-K, which provide additional information about the items noted above that significantly affect the comparability among the periods presented. Year Ended December 31, 2017 2016 2015 2014 2013 (In thousands, except per share amounts) Statement of Operations Data: Revenue: Total net revenue . . . . . . . . . . . . . . $ 11,745 $ 174,758 $ — $ — $ — (Loss) income from operations . . . . . . . . $ (108,189) 67,260 (344,655) (179,627) (169,401) Net (loss) income . . . . . . . . . . . . . . . . . . $ (117,333) 125,664 (368,445) (198,382) (191,490) Net (loss) income per share - basic . . . . . $ (1.13) 1.37 (4.54) (2.57) (3.20) Net (loss) income per share - diluted . . . $ (1.13) 1.36 (4.54) (2.57) (3.20) Shares used to compute basic net (loss) income per share . . . . . . . . . . . . . . . . . 104,245 92,053 81,233 77,045 59,918 Shares used to compute diluted net (loss) income per share . . . . . . . . . . . . 104,245 92,085 81,233 77,045 59,918 December 31, 2017 2016 2015 2014 2013 (In thousands) Balance Sheet Data: Cash and cash equivalents . . . . . . . . . . . $ 43,946 $ 22,895 $ 59,074 $ 120,841 $ 70,790 Total assets . . . . . . . . . . . . . . . . . . . . . . . 84,575 107,063 126,412 394,439 258,646 Facility financing obligation . . . . . . . . . . 52,745 71,339 74,582 72,995 102,300 Note payable to principal stockholder . . 79,666 49,521 49,521 49,521 49,521 Accrued interest — note payable to principal stockholder . . . . . . . . . . . . . 2,347 9,281 6,380 3,486 592 Senior convertible notes . . . . . . . . . . . . . 24,411 27,635 27,613 99,355 98,439 Sanofi loan facility and loss share obligation . . . . . . . . . . . . . . . . . . . . . . — — 62,371 3,034 — Accumulated deficit . . . . . . . . . . . . . . . . (2,854,898) (2,737,565) (2,863,229) (2,494,784) (2,296,402) Total stockholders’ deficit . . . . . . . . . . . (214,732) (183,593) (350,329) (73,770) (30,713) 48