MannKind deal likely to mean more Danbury jobs
Sept 6, 2018 23:52:05 GMT -5
via mobile
goyocafe, alethea, and 6 more like this
Post by lakers on Sept 6, 2018 23:52:05 GMT -5
www.google.com/amp/s/www.newstimes.com/business/amp/MannKind-enters-into-45M-agreement-to-treat-PAH-13202961.php
“Danbury is stable and that’s important,” he said. “We’ll continue to be an employer in Danbury and we’ll add jobs.”
Castagna said the agreement is a “validation of our platform,”
He said the agreement gives MannKind enough cash flow to pay off debt and reach the break-even point.
“This doesn’t solve all of the company’s problems, but it helps with the debt problem,” he said. “Now we have money and we’ll continue to raise more.”
MannKind granted United Therapeutics an option to expand the license to include other active ingredients for the treatment of pulmonary hypertension. Each optioned product would be subject to the payment to MannKind of up to $40 million. MannKind will also receive $10 million in a research agreement for products outside the scope of the PAH agreement.
“Danbury is stable and that’s important,” he said. “We’ll continue to be an employer in Danbury and we’ll add jobs.”
Castagna said the agreement is a “validation of our platform,”
He said the agreement gives MannKind enough cash flow to pay off debt and reach the break-even point.
“This doesn’t solve all of the company’s problems, but it helps with the debt problem,” he said. “Now we have money and we’ll continue to raise more.”
MannKind granted United Therapeutics an option to expand the license to include other active ingredients for the treatment of pulmonary hypertension. Each optioned product would be subject to the payment to MannKind of up to $40 million. MannKind will also receive $10 million in a research agreement for products outside the scope of the PAH agreement.