MannKind Receives $12.5 Million Milestone Payment from United Therapeutics
April 01 2019 - 6:00AM
MannKind Corporation (NASDAQ: MNKD) today
announced that it achieved the first of several 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
payments up to $37.5 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.
MannKind also announced that it filed a new
shelf registration statement on Form S-3 with the Securities and
Exchange Commission on March 29, 2019, which, when effective, will
replace the existing shelf registration statement that expires on
April 27, 2019.
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:Rose AlinayaSVP, Investor
Relations818.661.5000ir@mannkindcorp.com
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