MannKind Corporation (NASDAQ:MNKD) has signed an agreement with United Therapeutics (NASDAQ:UTHR) which has be labeled as an exclusive licensing and collaboration agreement. Essentially, the agreement states that MannKind Corporation is responsible for developing a dry powder to be used in clinical trials to treat pulmonary arterial hypertension or PAH.
MNKD share are up to highs of $1.80 per share which marks a 60% increase since the previous close. The 52-week high on MNKD was $6.96 per share back on October 10th of last year.
The responsibilities of “global development, regulatory and commercial activities, as well as manufacture the product long-term for commercial use” are placed upon United Therapeutics. United Therapeutics has already successfully launched numerous other pharmaceutical products such as Unituxin, Tyvaso, and Remodulin.
This collaboration agreement allows for MannKind Corporation to further show proof of concept of their inhalation method of administering drugs for various treatments. The CEO of MannKind Corporation, Michael Castagna, said that by working with United Therapeutics the company is able to “demonstrate the value of our drug and device combination platform for delivering therapeutic products.”
MannKind Corporation is a biopharmaceutical company with focuses in the development of therapeutic products for consumers with common diseases. Their products include delivery systems such as inhalers for dry powders which can be used once or reused. The company is noted for their product candidate, AFREZZA, which targets adults with type I and II diabetes, a large and growing market. People with diabetes traditionally have to go through the agony of insulin injections, while MannKind’s AFREZZA product candidate would allow the user to inhale their dose removing the agony of the needle.