RBC Capital notes MannKind (MNKD) was trading about 40% lower following United Therapeutics’ (UTHR) comments on their earnings call regarding development of a soft mist inhaler version of inhaled treprostinil. If approved, the SMI device could potentially displace Tyvaso DPI if efficacy is equivalent or better, which presents a “material risk” to MannKind’s outlook, the analyst tells investors. United management has confirmed to the firm’s U.S. Biotech analyst that MannKind is not involved in the development of the SMI device, RBC reported. The firm has an Outperform rating and $7.50 price target on MannKind shares.
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