MannKind shares nearly double on news of United deal

5 September 2018

Shares in Californian biopharma MannKind Corporation (Nasdaq: MNKD) closed up 89% on Tuesday as markets reacted to its licensing deal with biotech company United Therapeutics Corporation (Nasdaq: UTHR).

United has acquired the rights for global development, regulatory and commercial activities relating to a dry powder formulation of treprostinil, a product currently being evaluated in clinical trials for the treatment of pulmonary arterial hypertension.

MannKind will manufacture clinical supplies and initial commercial supplies of the product at its manufacturing facility in Danbury, Connecticut, though long-term commercial manufacturing will be done by United.

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