Dominic Marasco joins MannKind as President of the Endocrine Business Unit, effective January 6, 2025, bringing extensive experience.
Quiver AI Summary
MannKind Corporation announced the appointment of Dominic Marasco, RPh, as the President of its Endocrine Business Unit, effective January 6, 2025. Marasco, who brings over 25 years of experience in the biopharma and biotech industries, will be part of MannKind's executive leadership team and will report to CEO Michael Castagna. His background includes leadership roles at Envision Pharma Group, BioAgilytix Labs, and Syneos Health, along with a successful tenure at Amgen. Marasco expressed enthusiasm for contributing to the growth of MannKind’s innovative therapeutic products, particularly in enhancing care for patients with endocrine conditions.
Potential Positives
- Dominic Marasco, an experienced leader with over 25 years in the biopharma and biotech sectors, joins MannKind as President of the Endocrine Business Unit, indicating the company’s commitment to strengthening its leadership team.
- Marasco's extensive background in driving commercial success and strategic growth, especially in companies like Amgen and BioAgilytix, may enhance MannKind's operational excellence.
- The appointment aligns with MannKind’s objective to leverage positive clinical trial outcomes for Afrezza, potentially accelerating its market impact and commercial success.
- Marasco's enthusiasm for the innovative direction of MannKind suggests strong future initiatives aimed at improving patient care in the endocrine sector.
Potential Negatives
- The appointment of Dominic Marasco could indicate a lack of internal leadership continuity, raising concerns about the stability and direction of the Endocrine Business Unit.
- The reliance on forward-looking statements in the press release highlights inherent risks, including the potential for limited commercial success of their products.
- Details on the challenges faced by MannKind or specifics on their product performance were not disclosed, potentially indicating underlying issues that may not be addressed effectively with new leadership.
FAQ
Who is Dominic Marasco?
Dominic Marasco, RPh, is the newly appointed President of the Endocrine Business Unit at MannKind Corporation.
When will Dominic Marasco start his role?
Dominic Marasco will officially take on his role on January 6, 2025.
What experience does Dominic Marasco bring to MannKind?
He has over 25 years of commercial success in the biopharma and biotech sectors.
What is MannKind Corporation's focus?
MannKind Corporation specializes in innovative inhaled therapeutic products for endocrine and orphan lung diseases.
What is Afrezza?
Afrezza is a key product of MannKind that aims to improve diabetes management through inhaled delivery.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$MNKD Insider Trading Activity
$MNKD insiders have traded $MNKD stock on the open market 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $MNKD stock by insiders over the last 6 months:
- STEVEN B. BINDER has traded it 4 times. They made 0 purchases and 4 sales, selling 142,966 shares.
- STUART A TROSS (Chief People & Workpl Officer) has traded it 4 times. They made 0 purchases and 4 sales, selling 160,000 shares.
- MICHAEL CASTAGNA (Chief Executive Officer) sold 85,106 shares.
- DAVID THOMSON (EVP Genl Counsel & Secretary) has traded it 2 times. They made 0 purchases and 2 sales, selling 8,668 shares.
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$MNKD Hedge Fund Activity
We have seen 119 institutional investors add shares of $MNKD stock to their portfolio, and 66 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC removed 3,093,569 shares (-65.2%) from their portfolio in Q3 2024
- JACOBS LEVY EQUITY MANAGEMENT, INC added 1,947,813 shares (+inf%) to their portfolio in Q3 2024
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- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,300,125 shares (+inf%) to their portfolio in Q3 2024
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Full Release
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Dominic Marasco, RPh, joins the company as President, Endocrine Business Unit, effective January 6, 2025
DANBURY, Conn. and WESTLAKE VILLAGE, Calif., Jan. 06, 2025 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) , a company focusing on the development and commercialization of innovative inhaled therapeutic products and devices for patients with endocrine and orphan lung diseases, announced today that Dominic Marasco, RPh, has joined the company as President, Endocrine Business Unit, effective January 6, 2025.
Mr. Marasco is a member of MannKind’s executive leadership team and reports to Michael Castagna, PharmD, Chief Executive Officer. “Dominic is an innovative leader recognized for driving strategic growth and operational excellence that will be transformative for our Endocrine Business Unit,” said Dr. Castagna. “As we continue to build upon the positive clinical trial readouts for Afrezza, Dominic’s global experience will be instrumental to our company’s future.”
Mr. Marasco joins MannKind with an accomplished track record of more than 25 years of driving commercial success in the biopharma and biotech sectors. He recently held the position of Executive President, Chief Commercial Officer for Envision Pharma Group, leading its technology and artificial intelligence business units and all commercial operations. Before joining Envision Pharma in February 2023, Mr. Marasco was Chief Commercial Officer at BioAgilytix Labs, Inc. from December 2019 until December 2022.
Prior to BioAgilytix, he was EVP, Global Business Development, Commercial Group at Syneos Health after serving in progressive leadership roles at Amgen, Inc. including Head of U.S. Sales for the Neuroscience Business Unit and before that Global Commercial Head, Amgen Biosimilars. Mr. Marasco also held successful commercial leadership roles at Sandoz Biopharmaceuticals, a Novartis Company, and Quintiles Transnational Holdings Inc (now IQVIA).
He began his career as a pharmacist before joining Eli Lilly and Company in a sales capacity. Mr. Marasco is a graduate of the Philadelphia College of Pharmacy and an alumnus of the Harvard Business School’s Advanced Management Program.
“The energy behind Afrezza and the momentum of MannKind’s pipeline is inspiring,” said Marasco. “I am excited to work with an innovative team that continues to push the boundaries of what’s possible in endocrine care and help more patients worldwide.”
About MannKind
MannKind Corporation (Nasdaq: MNKD) focuses on the development and commercialization of innovative inhaled 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, nontuberculous mycobacterial (NTM) lung disease, pulmonary fibrosis, and pulmonary hypertension. 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, depending on the target indication.
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 , X or Instagram .
Forward-Looking Statements
This press release contains forward-looking statements about the potential transformation of a business unit that involves 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 risk that the products we are commercializing may only achieve a limited degree of commercial success, and other risks detailed in MannKind’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, and subsequent periodic reports on Form 10-Q and current reports on Form 8-K. 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.
MANNKIND is a registered trademark of MannKind Corporation.
