MannKind and United Therapeutics expand collaboration for a new inhalation therapy under their 2018 agreement, enhancing treatment options.
Quiver AI Summary
MannKind Corporation announced that United Therapeutics has exercised its option under their 2018 collaboration agreement to develop a second dry powder inhalation therapy, building on the success of the FDA-approved Tyvaso DPI. As part of the new agreement, MannKind will formulate an investigational molecule using its Technosphere platform, while United Therapeutics will manage preclinical and clinical development. MannKind will receive a $5 million upfront payment, with the potential for up to $35 million in development milestones and royalties on net sales. CEO Michael Castagna expressed pride in expanding the partnership to provide innovative inhaled therapies for patients with pulmonary hypertension.
Potential Positives
- United Therapeutics exercised its option to develop a second dry powder inhalation therapy, signaling confidence in MannKind's proprietary Technosphere® platform.
- MannKind received an upfront payment of $5 million, along with potential development milestones of up to $35 million and royalties of 10% on net sales, enhancing its financial position.
- The expanded collaboration with United Therapeutics reflects the success of Tyvaso DPI and strengthens MannKind's partnership with a key player in the biotechnology sector.
- The press release emphasizes MannKind's commitment to innovative inhaled therapies for serious respiratory conditions, reinforcing its market position and mission.
Potential Negatives
- Dependence on United Therapeutics for development and commercialization of new therapies may signal a lack of independent product pipeline growth.
- Potential risks highlighted in the forward-looking statements could cast doubt on the viability of the new investigational product, affecting investor confidence.
- The company may face challenges linked to milestones and royalties, which are contingent on successful development and sales of the new product.
FAQ
What is the purpose of the new agreement between MannKind and United Therapeutics?
The new agreement allows the development of a second dry powder inhalation therapy to treat pulmonary hypertension.
What financial terms were agreed upon in the expanded partnership?
MannKind will receive a $5 million upfront payment, up to $35 million in milestone payments, and 10% royalties on net sales.
When did the original collaboration with United Therapeutics begin?
The original collaboration agreement was established in 2018, leading to the approval of Tyvaso DPI in May 2022.
What technology will MannKind use for the new investigational molecule?
MannKind will use its proprietary Technosphere® platform to formulate the new investigational molecule.
What is MannKind Corporation's mission?
MannKind is committed to developing inhaled therapeutic products that address serious unmet medical needs for patients with pulmonary and endocrine diseases.
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 7 times in the past 6 months. Of those trades, 0 have been purchases and 7 have been sales.
Here’s a breakdown of recent trading of $MNKD stock by insiders over the last 6 months:
- STEVEN B. BINDER has made 0 purchases and 4 sales selling 231,674 shares for an estimated $982,304.
- DAVID THOMSON (EVP Genl Counsel & Secretary) has made 0 purchases and 3 sales selling 41,990 shares for an estimated $190,355.
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$MNKD Hedge Fund Activity
We have seen 95 institutional investors add shares of $MNKD stock to their portfolio, and 143 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. added 4,613,019 shares (+18.8%) to their portfolio in Q2 2025, for an estimated $17,252,691
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- AVORO CAPITAL ADVISORS LLC removed 2,900,000 shares (-33.1%) from their portfolio in Q2 2025, for an estimated $10,846,000
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$MNKD Analyst Ratings
Wall Street analysts have issued reports on $MNKD in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- RBC Capital issued a "Outperform" rating on 08/26/2025
- Mizuho issued a "Outperform" rating on 04/10/2025
To track analyst ratings and price targets for $MNKD, check out Quiver Quantitative's $MNKD forecast page.
$MNKD Price Targets
Multiple analysts have issued price targets for $MNKD recently. We have seen 3 analysts offer price targets for $MNKD in the last 6 months, with a median target of $9.0.
Here are some recent targets:
- Douglas Miehm from RBC Capital set a target price of $8.0 on 08/26/2025
- Brandon Folkes from HC Wainwright & Co. set a target price of $9.0 on 07/16/2025
- An analyst from Mizuho set a target price of $12.0 on 04/10/2025
Full Release
DANBURY, Conn. and BOSTON, Aug. 27, 2025 (GLOBE NEWSWIRE) -- MannKind Corporation (Nasdaq: MNKD) today announced that United Therapeutics Corporation (Nasdaq: UTHR) has exercised its option—granted under the companies’ 2018 license and collaboration agreement —to develop a second dry powder inhalation therapy.
The original agreement, which led to U.S. FDA approval of Tyvaso DPI in May 2022, included an option for United Therapeutics to expand the license to include additional active ingredients. Under the terms of the expanded agreement, MannKind will formulate a second investigational molecule using its proprietary Technosphere ® platform, and United Therapeutics will conduct preclinical and clinical development.
“Building on the success of Tyvaso DPI, we are proud to deepen our collaboration with United Therapeutics to bring innovative patient-centric inhaled therapies to patients living with pulmonary hypertension,” said Michael Castagna, PharmD, Chief Executive Officer of MannKind Corporation. “This next step highlights the strength of our partnership and the versatility of our dry powder formulations and inhalation devices in addressing serious respiratory conditions.”
Under the terms of the expanded agreement, MannKind will receive an upfront payment of $5 million and is eligible to receive up to $35 million in development milestones and 10% royalties on net sales of any resulting product.
Formulation and development activities for the new investigational molecule will begin immediately.
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
Statements in this press release that are not statements of historical fact are forward-looking statements that involve risks and uncertainties. These statements include, without limitation, statements regarding the potential development of an investigational product and receipt of milestone payments and royalties. 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 continued testing of an investigational drug product may not yield successful results or results that are consistent with earlier testing, 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, 2024 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.
TYVASO DPI is a registered trademark of United Therapeutics Corporation.
TECHNOSPHERE and MANNKIND are registered trademarks of MannKind Corporation.
