MannKind Corp., a Danbury-based company that develops inhaled therapeutic products, has named a new chief financial officer.
The company said Tuesday that current CFO Steven B. Binder will retire effective April 22, though he will remain through the end of the year as executive vice president, special projects.
Binder will be succeeded by Christopher Prentiss, who joins MannKind after serving as CFO of ADARx Pharmaceuticals Inc., a privately held clinical-stage biotechnology company based in San Diego. Prentiss will join MannKind’s executive leadership team and report to CEO Michael Castagna, the company said.
“We are excited to have Chris join us at such a pivotal time as our new CFO,” Castagna said. “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.”
He added that the company is “deeply grateful” to Binder for his leadership and dedication to the company.
“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,” Castagna said. “We are pleased that Steve will remain with MannKind for the rest of 2024, allowing for an optimal transition with Chris.”
Prentiss has more than 20 years of experience in financial leadership positions within the biopharma industry, in both private and public companies. At ADARx, where he has served as CFO since September 2022, he helped raise nearly $250 million in funding.
Before that, he held a series of finance positions of increasing responsibility at the commercial-stage biotech company Adamas Pharmaceuticals Inc., culminating in his appointment as CFO. At the time, Adamas was acquired by Supernus Pharmaceuticals Inc. in 2021, it had an annual revenue run rate of approximately $100 million.
Prentiss began his career in the assurance practice at KPMG LLP. A licensed, though inactive, CPA in California, he earned a B.S. degree in Accounting from Loyola Marymount University and an MBA from Indiana University’s Kelley School of Business.
