Shares of MannKind (NASDAQ: MNKD) , a company working to develop inhaled therapeutics, were down 18% as of 11:59 a.m. EDT on Monday after an inspection issue derailed its hopes of approval for Tyvaso DPI, a lung disease therapy it developed with United Therapeutics (NASDAQ: UTHR) .
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Tyvaso DPI is a potential treatment for pulmonary arterial hypertension (PAH), a condition where high blood pressure constricts or blocks blood vessels in the lungs. It's a rare disease with an occurrence rate that Johnson & Johnson estimates between 50 and 100 people per million. According to United Therapeutics' Securities and Exchange Commission filings, it owns two patents for treating PAH through inhalation that expire in 2024. That makes the delay especially impactful.
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Why Shares of MannKind Corporation Are Falling This Morning