08:01 AM EDT, 08/25/2025 (MT Newswires) -- MannKind ( MNKD ) said Monday it has agreed to acquire scPharmaceuticals (SCPH) for a total deal value of up to about $360 million.

Under the terms of the deal, MannKind ( MNKD ) will launch a tender offer to acquire all of the outstanding shares of scPharmaceuticals common stock at a price of $5.35 per share in cash upon closing, plus one non-tradable CVR per share to receive certain milestone payments of up to an aggregate of $1 per CVR in cash, for total consideration of up to $6.35 per share in cash, representing a total equity value of about $303 million.

MannKind ( MNKD ) and Blackstone amended their recently announced strategic financing agreement to provide $175 million of additional funding to support the acquisition.

The deal will mark MannKind's ( MNKD ) strategic expansion into cardiorenal medicine, establishing the company's cardiometabolic business alongside its orphan lung division. The estimated total addressable market opportunity equates to more than $10 billion in the US alone, the company said.

The deal is set to close in Q4.

Shares of scPharmaceuticals rose more than 18% in recent premarket activity Monday.