MannKind Corp shares rose about 38% after announcing a collaboration with United Therapeutics to develop a ralinepag dry‑powder inhaler.
United Therapeutics will pay an additional $5 million in April and may provide up to $35 million in milestones plus 10% royalties to MannKind.
The partnership builds on a 2018 agreement that led to FDA approval of Tyvaso DPI, which generated $1.3 billion revenue in 2025.