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MannKind stock climbs after closing treprostinil deal with United Therapeutics

September 7, 2018 5:36 PM UTC

MannKind Corp. (NASDAQ:MNKD; Tel Aviv:MNKD) shot up $0.98 (89%) to $2.08. on Sept. 4 after signing a deal with United Therapeutics Corp. (NASDAQ:UTHR) for rights to Treprostinil Technosphere. MannKind will receive $45 million up front and be eligible for up to $50 million in milestones, plus low double-digit royalties.

United Therapeutics gains an exclusive, worldwide license to the dry powder formulation of treprostinil, which MannKind is evaluating in a Phase I trial to treat pulmonary arterial hypertension (PAH). Treprostinil is a synthetic long-acting stable prostacyclin analog. ...