WESTLAKE VILLAGE, Calif., April 01, 2019 (GLOBE NEWSWIRE) -- MannKind Corporation (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 (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.
SVP, Investor Relations