Strug­gling MannKind sees shares rock­et up on $105M-plus al­liance with Unit­ed on in­haled tre­pros­tinil

The long suf­fer­ing MannKind Corp $MNKD is pock­et­ing $55 mil­lion as it launch­es a new col­lab­o­ra­tion with Unit­ed Ther­a­peu­tics to use its tech to de­vel­op a dry pow­der for­mu­la­tion of the pul­monary ar­te­r­i­al hy­per­ten­sion drug tre­pros­tinil.

Shares in the biotech — which de­vel­oped an in­haled in­sulin that di­a­bet­ics have large­ly shunned — rock­et­ed up 46% on the pos­i­tive turn of events at MannKind.

The mon­ey breaks down to a $45 mil­lion up­front, an im­me­di­ate pay­ment of $10 mil­lion for re­search and $50 mil­lion in mile­stones, bring­ing the to­tal on tre­pros­tinil to a po­ten­tial $105 mil­lion — plus roy­al­ties. Unit­ed al­so has the right to grab op­tions on oth­er pul­monary hy­per­ten­sion prod­ucts to the tune of $40 mil­lion each for an op­tion plus mile­stones.

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