MannKind receives $5M upfront from United Therapeutics for new product option exercise

MANNKIND CORP

MannKind entered First Amendment with United Therapeutics to exercise option for an additional development product using its Technosphere platform.
MannKind receives $5M upfront payment and is eligible for up to $35M in milestone payments.
MannKind will manufacture clinical trial materials; United Therapeutics will conduct all other preclinical and clinical development.
MannKind will earn 10% royalties on net sales of the additional product if approved.
United Therapeutics exercised withdrawal option retains right to withdraw the exercise for the new agent.

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