Drugmaker sees stock increase and receives $150 million in deal
- MannKind shares rise 6.6% after selling 1% royalty interest in Tyvaso DPI
- Stock was up 6.6% to $3.88 in afternoon trading
- MannKind receives $150 million initially and is eligible for up to $50 million milestone payment
- Sagard Healthcare will receive a 1% royalty on Tyvaso DPI through 2042
Shares of MannKind rose 6.6% after the company sold a 1% royalty interest in Tyvaso DPI for $200 million. The stock reached a high of 14% earlier in the day before settling at $3.88 in afternoon trading. MannKind will receive $150 million initially and could earn an additional $50 million milestone payment. The deal with asset manager Sagard Healthcare means they will receive a 1% royalty on Tyvaso DPI until 2042.
Public Companies: MannKind (Unknown), United Therapeutics (Unknown)
Private Companies: Sagard
Key People:
Factuality Level: 8
Justification: The article provides factual information about MannKind selling part of its royalty interest in Tyvaso DPI for $200 million. It includes details about the stock price increase and the terms of the deal with asset manager Sagard. The information is straightforward and does not contain any obvious bias or opinion.
Noise Level: 3
Justification: The article provides relevant information about MannKind selling part of its royalty interest in Tyvaso DPI for $200 million. It includes details about the stock price increase and the terms of the deal. However, it lacks in-depth analysis, scientific rigor, and actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Shares of MannKind
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article pertains to a financial topic as it discusses the sale of part of MannKind’s royalty interest in Tyvaso DPI. There is no mention of an extreme event in the article.
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