MannKind Receives Second $12.5 Million Milestone Payment From United Therapeutics
November 04 2019 - 9:00AM
MannKind Corporation (NASDAQ: MNKD) today
announced that it has achieved the second of four specified
development milestones under its licensing and collaboration
agreement with United Therapeutics for the development and
commercialization of a dry powder formulation of
treprostinil. Treprostinil Technosphere (“TreT”) is an
investigational product currently being evaluated in clinical
trials for the treatment of pulmonary arterial hypertension.
Pursuant to the agreement, MannKind is eligible to earn additional
milestone payments up to $25 million upon the achievement of other
defined development milestones. MannKind will also be
entitled to receive low double-digit royalties on net sales of
TreT.
About MannKind Corporation
MannKind Corporation (Nasdaq: MNKD) focuses
on the development and commercialization of inhaled therapeutic
products for patients with diseases such as diabetes and pulmonary
arterial hypertension. MannKind is currently
commercializing Afrezza® (insulin human) Inhalation Powder, the
Company's first FDA-approved product and the only inhaled
rapid-acting mealtime insulin in the United States, where it
is available by prescription from pharmacies
nationwide. MannKind is headquartered in Westlake
Village, California, and has a state-of-the art manufacturing
facility in Danbury, Connecticut. The Company also employs
field sales and medical representatives across the U.S.
For further information, visit
www.mannkindcorp.com.
Company
Contact:818.661.5000ir@mannkindcorp.com
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