BTIG raised its price target for MannKind (NASDAQ:MNKD) to $8 from $4, citing a recent meeting with MannKind CEO, Michael Castagna, to hear an extensive discussion on Technosphere and Tyvaso DPI expansion, among other things. The stock closed at $5.28 on Feb. 23.
MannKind is developing novel medicines using its proprietary, broad-based oral inhalation technology, Technosphere, which is a dry powder technology consisting of microparticles that are engineered for drug delivery to the deep lung.
“The collaboration with United Therapeutics in pulmonary hypertension has multiple near-term catalysts, transformational potential,” writes analyst Robert Hazlett.
He said MannKind’s collaboration with United Therapeutics has a lead program called Tyvaso DPI, which is a next-generation version of the approved inhaled pulmonary arterial hypertension (PAH) therapeutic. Tyvaso. “Tyvaso DPI has made material, rapid progress in multiple ways,” he added.
“With significant potential for Tyvaso growth directly ahead, which should apply directly to Tyvaso DPI, we continue to believe this collaboration is transformative for MannKind,” Mr. Hazlett said.
“Our prior risk-weighted models included increased use of Tyvaso DPI in PAH; revised estimates now include several large additional indications, PH-ILD, PH-COPD, and IPF,” he said, adding that he also has adjusted the economics for inhaled insulin, Afrezza.
