Appeals court ruling ‘a clear negative’ for Tyvaso, says Cantor Fitzgerald

Cantor Fitzgerald notes that MannKind’s (MNKD) shares are down on the appeals court ruling for Liquidia (LQDA)/United’s (UTHR) ongoing IP battle, which favors Liquidia. The impact will be on Tyvaso DPI’s sales longevity, and how much of an impact Liquidia’s Yutrepia will have on Tyvaso’s uptake in pulmonary arterial hypertension, the firm adds. Cantor also points out that Tyvaso DPI has a method of use patent that gives it protection through 2027, but that could come under pressure with Wednesday’s ruling. The firm is not changing any of its Tyvaso DPI estimates just yet, but says update is “a clear negative” in what’s been a rollercoaster legal battle between the companies. Cantor has an Overweight rating and a price target of $6.50 on MannKind’s shares.