MannKind Corporation (NASDAQ: MNKD) is having an relatively strong start to the trading session this morning, and for good reason. The company announced that it has closed a key licesning and collaboration agreement surrounding Technosphere. Of course, the news excited investors who are pushing the stock upward. Today, we’ll talk about:
- The agreement;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to MNKD ahead.
MNKD Announces The Closing Of A Key Agreement
As mentioned above, MannKind Corporation is having an incredibly strong start to the trading session this morning after announcing that it has closed an agreement. In a press release issued early this morning, the company said that it has closed a pending worldwide exclusive license and collaboration agreement surrounding the development and commercialization of Treprostinil Technosphere. The agreement was closed with United Therapeutics Corporation.
Treprostinil Technosphere is a dry powder formulation of treprostinil that is being developed for the treatment of pulmonary arterial hypertension. The treatment takes advantage of the technosphere technology developed by MNKD. The agreement was contingent upon expiration or termination of the required wiating period under the Hart-Scott-Rodino Antitrust Improvements Act. This waiting period expired on October 15, 2018 and the agreement became effective on the same day according to MNKD.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of MannKind Corporation, the news that was released today proved to be overwhelmingly positive. After all, this partnership has the potential to lead to another product that could generate revenue for the company. So, it comes as no surprise that excited investors are pushing the stock upward this morning. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:16), MNKD is trading at $1.69 per share after a gain of $0.04 per share or 2.42% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on MNKD. In particular, we’re interested in following the development of Treprostinil Technosphere as well as the company’s continued attempts to improve the commercialization of Afrezza. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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