Key Takeaways Liquidia's Yutrepia launch has driven strong sales, adoption and three straight profitable quarters. LQDA projects far faster 2026 revenue and EPS growth, backed by rising earnings estimates.United Therapeutics counters with a broad PAH portfolio and late-stage ralinepag pipeline. Liquidia Corporation (LQDA - Free Report) is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
United Therapeutics (UTHR - Free Report) boasts six FDA-approved therapies that treat PAH, PH-ILD, and neuroblastoma, a rare pediatric cancer, in its portfolio.
Liquidia and United Therapeutics are locked in a fierce battle in the PAH market, with Liquidia's Yutrepia emerging as a challenger to United Therapeutics' blockbuster Tyvaso franchise. Their competition extends beyond commercial sales to patent disputes and a race to capture a larger share of the inhaled treprostinil market.
Given this backdrop, selecting one stock over the other can be difficult. We therefore evaluate their fundamentals, growth prospects, challenges and valuation metrics to help make an informed decision.
The Case for LQDALiquidia currently markets Yutrepia (treprostinil) inhalation powder, approved by the FDA in May 2025 and launched the following month commercially.
The company also generates revenues through a profit-sharing agreement with Sandoz for the promotion of its generic treprostinil injection in the United States.
Yutrepia is an inhaled dry-powder formulation of treprostinil developed using Liquidia's proprietary PRINT particle engineering technology. The platform is designed to enhance deep lung drug delivery, simplify administration through a low-effort dry-powder inhaler and enable higher dose levels than currently marketed inhaled treprostinil therapies.
The company supports commercialization through a specialized sales force focused on physicians treating PAH and PH-ILD, as well as stakeholders involved in reimbursement and drug distribution.
Since its launch in June 2025, Yutrepia has emerged as a strong growth driver, generating approximately $130 million in first-quarter 2026 sales. The therapy has demonstrated robust adoption, with more than 4,500 unique prescriptions, around 3,750 patients initiating treatment, and nearly 1,000 physicians prescribing the drug.
Its rapid uptake helped Liquidia post its third consecutive profitable quarter, highlighting Yutrepia's growing commercial success.
Beyond its commercial portfolio, Liquidia is advancing a pipeline of therapies for pulmonary vascular diseases. Its lead pipeline candidate, L606, is an investigational liposomal formulation of treprostinil administered twice daily via a next-generation nebulizer. L606 is being evaluated in an open-label study for PAH and PH-ILD, while a global pivotal placebo-controlled trial is underway in PH-ILD.
Liquidia also plans to expand Yutrepia into additional indications, including pulmonary hypertension associated with chronic obstructive pulmonary disease (PH-COPD), idiopathic pulmonary fibrosis (IPF), progressive pulmonary fibrosis (PPF) and Raynaud's phenomenon associated with systemic sclerosis.
The Case for UTHRUnited Therapeutics markets a broad PAH portfolio led by Tyvaso DPI, a dry-powder inhaled formulation of the prostacyclin analogue treprostinil, which was approved by FDA in May 2022 to improve exercise ability in patients with PAH and PH-ILD.
Its portfolio includes nebulized Tyvaso, a nebulized liquid inhaled formulation of treprostinil, approved by the FDA to improve exercise ability in patients with PAH and PH-ILD.
The company also markets Remodulin, a continuously infused treprostinil therapy for PAH administered subcutaneously or intravenously, supported by the user-friendly RemunityPRO infusion pump. Its PAH portfolio further includes Orenitram, an oral extended-release treprostinil tablet, and Adcirca (tadalafil), an oral PDE-5 inhibitor licensed from Eli Lilly through the end of 2026.
Sales of Tyvaso products continue to grow, driven by higher volumes and continued growth in commercialization utilization. Moreover, Orenitram offers a convenient oral treatment option that avoids the challenges associated with continuous infusion therapies, such as Remodulin, and inhaled therapies requiring multiple daily administrations.
The company remains focused on developing additional therapies for PAH and pulmonary fibrosis (PF).
Ralinepag, an investigational, highly selective and potent prostacyclin (IP) receptor, is one of United Therapeutics' most promising late-stage pipeline assets. The candidate is being developed in two formulations — an oral version and a DPI version (RAL-DPI).
Based on positive data from the pivotal phase III ADVANCE OUTCOMES study, United Therapeutics intends to submit a new drug application for ralinepag (to treat PAH) to the FDA by the second half of 2026.
If approved, oral ralinepag could strengthen United Therapeutics’ leadership in PAH and potentially offset future competitive pressure on older products.
Beyond the oral formulation, United Therapeutics is also developing inhaled dry-powder versions of ralinepag, RAL-DPI, in collaboration with MannKind Corporation. While initially targeting PAH, management sees opportunities for RAL-DPI in PH-ILD, IPF and PPF. Together, the oral and inhaled formulations position ralinepag as a potential cornerstone of United Therapeutics' future growth strategy.
Outside its PAH franchise, the company markets Unituxin for the treatment of high-risk neuroblastoma.
UTHR strengthened its long-term regenerative medicine strategy by acquiring preclinical stage biotech Thymmune Therapeutics for $140 million upfront, with up to $160 million in milestone payments. The deal adds THY-100, a stem cell-derived thymic cell therapy being developed for congenital athymia, and a platform with potential applications in organ transplantation, autoimmune diseases and immune deficiencies. The acquisition broadens United Therapeutics' pipeline beyond PAH.
A Look at Estimates: LQDA versus UTHRThe Zacks Consensus Estimate for LQDA’s 2026 sales implies a year-over-year increase of 315.77%, while that for earnings per share (EPS) suggests a year-over-year improvement of 477.5%. The Zacks Consensus Estimate for 2026 EPS has moved north to $3.02 from $2.97 and that for 2027 EPS has increased to $4.92 from $4.81 in the past 60 days.
LQDA’s Estimate Movement
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UTHR’s 2026 sales implies a year-over-year increase of 1.46%, while that for EPS suggests a year-over-year decline of 4.41%. EPS estimates for 2026 have moved south to $26.63 in the past 60 days but those for 2026 have moved north to $31.66 from $31.09 during the said time frame.
UTHR’s Estimate Movement
Image Source: Zacks Investment Research
Price Performance and Valuation of LQDA and UTHRFrom a price-performance perspective, LQDA has fetched better returns than UTHR so far in the year. Shares of LQDA have surged 158.2%, while those of UTHR have gained 8.7%. The industry has gained 1.4% in the said period.
Image Source: Zacks Investment Research
From a valuation standpoint, LQDA is more expensive than UTHR. LQDA’s shares currently trade at 8.74X forward sales, higher than 6.50X for UTHR.
Image Source: Zacks Investment Research
Which Stock Is a Better Pick for Now?LQDA currently sports a Zacks Rank #1 (Strong Buy), while UTHR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Although United Therapeutics remains the established leader in PAH with a diversified portfolio, a robust late-stage pipeline and expansion into regenerative medicine, much of its growth appears incremental.
In contrast, Liquidia is in the early stages of a rapid commercial expansion, driven by the impressive launch of Yutrepia, expanding label opportunities and a promising pipeline. The company's superior revenue and earnings growth outlook, upward estimate revisions, stronger year-to-date share price performance and better Zacks Rank outweigh its premium valuation.
While UTHR remains a solid long-term holding, Liquidia offers the more compelling growth story and greater upside potential at current levels, making LQDA the better pick for investors seeking higher returns.
Atika Capital Management LLC purchased a new stake in shares of United Therapeutics Corporation (NASDAQ:UTHR – Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 12,350 shares of the biotechnology company’s stock, valued at approximately $7,323,000. United Therapeutics makes up 0.9% of Atika Capital Management LLC’s investment portfolio, making the stock its 27th largest position.
Several other institutional investors have also recently made changes to their positions in the company. Leuthold Group LLC boosted its stake in shares of United Therapeutics by 41.4% during the fourth quarter. Leuthold Group LLC now owns 10,672 shares of the biotechnology company’s stock valued at $5,200,000 after purchasing an additional 3,126 shares during the period. UBS Group AG increased its position in shares of United Therapeutics by 45.3% in the fourth quarter. UBS Group AG now owns 225,849 shares of the biotechnology company’s stock valued at $110,045,000 after acquiring an additional 70,445 shares during the period. Perpetual Ltd bought a new position in shares of United Therapeutics during the fourth quarter valued at about $1,059,000. SG Americas Securities LLC raised its stake in shares of United Therapeutics by 88.6% during the fourth quarter. SG Americas Securities LLC now owns 26,960 shares of the biotechnology company’s stock valued at $13,136,000 after acquiring an additional 12,663 shares during the last quarter. Finally, Brookstone Capital Management boosted its holdings in shares of United Therapeutics by 25.4% during the fourth quarter. Brookstone Capital Management now owns 6,622 shares of the biotechnology company’s stock worth $3,227,000 after purchasing an additional 1,342 shares during the period. Institutional investors own 94.08% of the company’s stock.
Insider Activity In other United Therapeutics news, Director Jan Malcolm sold 325 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $550.59, for a total value of $178,941.75. Following the transaction, the director directly owned 450 shares in the company, valued at approximately $247,765.50. This trade represents a 41.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Martine A. Rothblatt sold 9,500 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $535.99, for a total value of $5,091,905.00. Following the completion of the sale, the chief executive officer owned 40,513 shares of the company’s stock, valued at $21,714,562.87. This trade represents a 19.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 513,333 shares of company stock valued at $286,933,042 in the last quarter. 8.60% of the stock is currently owned by insiders.
United Therapeutics Price Performance NASDAQ UTHR opened at $529.53 on Friday. The stock has a market capitalization of $22.48 billion, a price-to-earnings ratio of 19.55, a PEG ratio of 1.76 and a beta of 0.58. United Therapeutics Corporation has a 1-year low of $272.12 and a 1-year high of $609.35. The business’s fifty day moving average price is $548.68 and its 200-day moving average price is $531.41.
United Therapeutics (NASDAQ:UTHR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $5.82 EPS for the quarter, missing the consensus estimate of $7.00 by ($1.18). The firm had revenue of $781.50 million during the quarter, compared to the consensus estimate of $797.40 million. United Therapeutics had a return on equity of 19.24% and a net margin of 40.62%.The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.63 EPS. Equities research analysts anticipate that United Therapeutics Corporation will post 26.63 EPS for the current year.
Analyst Ratings Changes Several analysts recently issued reports on UTHR shares. TD Cowen reissued a “buy” rating on shares of United Therapeutics in a research note on Thursday, May 21st. Morgan Stanley set a $516.00 target price on United Therapeutics in a report on Thursday, May 7th. JPMorgan Chase & Co. raised their price target on United Therapeutics from $685.00 to $687.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America dropped their price target on United Therapeutics from $620.00 to $613.00 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Raymond James Financial assumed coverage on shares of United Therapeutics in a research report on Friday, April 10th. They set an “outperform” rating and a $700.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $648.33.
Check Out Our Latest Research Report on UTHR
United Therapeutics Profile (Free Report)
United Therapeutics Corporation (NASDAQ: UTHR) is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company’s primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.
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United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, announced today that the company's Board of Directors appointed Victor Dzau, M.D.,
SILVER SPRING, Md. & DURHAM, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, announced today that the company's Board of Directors appointed Victor Dzau, M.D., to its Board on July 22, 2026.Dr. Dzau recently completed a 12-year tenure as President of the National Academy of Medicine (NAM) and formerly served as Chancellor for Health Affairs at Duke University, President and CEO of the Duke University Health System, and Chairman of Medicine at.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR) announced today that it will report its second quarter 2026 financial results in a press release that will be issued on Wednesday, August 5, 2026, at approximately 6:30 a.m. Eastern Time.United Therapeutics will host a public webcast on Wednesday, August 5, 2026, at 9:00 a.m. Eastern Time that will be accessible at https://ir.unither.com/events-and-presentations. A rebroadcast of th.
California Public Employees Retirement System increased its position in shares of United Therapeutics Corporation (NASDAQ:UTHR – Free Report) by 5.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,289 shares of the biotechnology company’s stock after acquiring an additional 4,933 shares during the quarter. California Public Employees Retirement System owned about 0.21% of United Therapeutics worth $52,354,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of UTHR. Avoro Capital Advisors LLC raised its position in shares of United Therapeutics by 17.3% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,606,060 shares of the biotechnology company’s stock valued at $1,269,803,000 after purchasing an additional 383,838 shares during the last quarter. Wellington Management Group LLP grew its position in United Therapeutics by 74.5% during the 4th quarter. Wellington Management Group LLP now owns 2,441,492 shares of the biotechnology company’s stock worth $1,189,617,000 after purchasing an additional 1,042,711 shares during the last quarter. AQR Capital Management LLC grew its position in United Therapeutics by 29.9% during the 4th quarter. AQR Capital Management LLC now owns 1,281,699 shares of the biotechnology company’s stock worth $624,508,000 after purchasing an additional 295,221 shares during the last quarter. Janus Henderson Group PLC increased its stake in United Therapeutics by 75.1% during the 4th quarter. Janus Henderson Group PLC now owns 796,101 shares of the biotechnology company’s stock valued at $387,801,000 after purchasing an additional 341,383 shares in the last quarter. Finally, Norges Bank acquired a new position in United Therapeutics during the 4th quarter valued at approximately $293,418,000. Hedge funds and other institutional investors own 94.08% of the company’s stock.
Analysts Set New Price Targets UTHR has been the subject of a number of research analyst reports. HC Wainwright raised their target price on United Therapeutics from $600.00 to $660.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Bank of America dropped their price target on United Therapeutics from $620.00 to $613.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Raymond James Financial initiated coverage on United Therapeutics in a report on Friday, April 10th. They issued an “outperform” rating and a $700.00 price objective on the stock. Wells Fargo & Company upgraded United Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $575.00 to $735.00 in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of United Therapeutics in a report on Thursday, June 11th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, United Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.82.
Read Our Latest Report on UTHR
Insiders Place Their Bets In related news, CFO James Edgemond sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $576.93, for a total transaction of $5,769,300.00. Following the completion of the sale, the chief financial officer owned 18,876 shares of the company’s stock, valued at approximately $10,890,130.68. This represents a 34.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 545,243 shares of company stock worth $305,155,272 in the last quarter. Insiders own 8.60% of the company’s stock.
United Therapeutics Price Performance United Therapeutics stock opened at $529.34 on Tuesday. The stock has a market capitalization of $22.47 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.79 and a beta of 0.58. The business has a 50 day simple moving average of $551.57 and a 200-day simple moving average of $530.56. United Therapeutics Corporation has a 12 month low of $272.12 and a 12 month high of $609.35.
United Therapeutics (NASDAQ:UTHR – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $5.82 earnings per share for the quarter, missing analysts’ consensus estimates of $7.00 by ($1.18). The company had revenue of $781.50 million during the quarter, compared to analysts’ expectations of $797.40 million. United Therapeutics had a net margin of 40.62% and a return on equity of 19.24%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $6.63 earnings per share. On average, equities research analysts anticipate that United Therapeutics Corporation will post 26.63 EPS for the current fiscal year.
About United Therapeutics (Free Report)
United Therapeutics Corporation (NASDAQ: UTHR) is a biotechnology company dedicated to the development and commercialization of unique products to address life-threatening illnesses. The company’s primary focus has been on pulmonary arterial hypertension (PAH), where it has launched several therapies designed to improve functional capacity and quality of life for patients. Its marketed products include continuous infusion treprostinil (Remodulin), inhaled treprostinil (Tyvaso), oral treprostinil (Orenitram) and tadalafil (Adcirca), each tailored to different modes of administration and patient needs.
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Key Takeaways UTHR reported positive phase III results for Tyvaso in IPF, supporting a planned FDA supplemental filing.UTHR plans an FDA filing for ralinepag after phase III success & targets $4B annual revenue run rate by 2027.UTHR is advancing organ manufacturing while facing growing competition for its core PAH therapies. Shares of United Therapeutics (UTHR - Free Report) have gained 14% year to date against the industry’s 0.8% decline, driven by major clinical breakthroughs and improved long-term growth visibility that have significantly strengthened investor confidence.
Image Source: Zacks Investment Research
UTHR’s Meaningful Pipeline Expansion Encourages InvestorsInvestor sentiment has been boosted by encouraging progress across United Therapeutics' pipeline.
The company is expanding nebulized Tyvaso beyond its approved pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD) indications into larger pulmonary fibrosis markets such as idiopathic pulmonary fibrosis (IPF) and progressive pulmonary fibrosis (PPF). The company's IPF development program consists of two pivotal phase III studies, TETON-1 and TETON-2. The studies share a similar design, differing primarily in their geographic scope. TETON-1 was conducted at sites across the United States and Canada, while TETON-2 enrolled patients at sites outside these countries.
In March 2026, the company announced positive results from the late-stage TETON-1 study, which achieved its primary endpoint by demonstrating a statistically significant improvement in lung function for patients with IPF. The magnitude of benefit observed in TETON-1 exceeded the already strong outcomes previously reported in TETON-2, representing a significant advancement for patients with IPF.
Positive phase III data from both the TETON-1 and TETON-2 studies support a planned FDA supplemental application for Tyvaso in IPF. Management believes the IPF opportunity alone could eventually surpass Tyvaso's current PAH revenues. It is also enrolling patients in the phase III TETON PPF study evaluating the drug in patients with PPF.
The company's late-stage PAH candidate ralinepag delivered positive phase III data from the ADVANCE OUTCOMES study in March. The study met its primary and secondary endpoints. UTHR intends to submit a new drug application for ralinepag to the FDA in the second half of 2026.
The company is developing an inhaled dry-powder version of ralinepag (RAL-DPI) in collaboration with MannKind Corporation. While initially targeting PAH, management sees potential opportunities for RAL-DPI in PH-ILD, IPF and PPF.
Together, Tyvaso's label expansion and the ralinepag franchise are expected to drive long-term growth, supporting the company's goal of increasing its annual revenue run rate from $3 billion to $4 billion by the end of 2027 and boosting investor sentiment.
Organ Manufacturing Business on MoveUnited Therapeutics continues to strengthen its long-term growth outlook through steady progress in its organ manufacturing platform, which spans hearts, kidneys, livers and lungs. The company is advancing multiple technologies, including xenotransplantation, regenerative medicine, bioengineered organs, 3D bioprinting and ex-vivo lung perfusion (EVLP) to address the global shortage of donor organs.
Its xenotransplantation portfolio includes development-stage candidates UKidney, UHeart and UThymoKidney. The FDA cleared the investigational new drug application for the phase I EXPRESS study evaluating UHeart in May. United Therapeutics received FDA premarket approval for LungFX, the first EVLP device for assessing donor lungs outside the body, with a commercial launch planned for 2027.
Earlier this month, the acquisition of Thymmune Therapeutics expanded the company's regenerative medicine portfolio with the preclinical thymic cell therapy THY-100, strengthening its long-term strategy to improve organ transplantation and immune restoration.
UTHR Faces Competitive PressureUnited Therapeutics generates most of its revenues from its treprostinil-based PAH therapies, including Tyvaso, Orenitram, Adcirca and Remodulin. The company markets two versions of Tyvaso: Tyvaso dry powder inhalation (DPI) and nebulized Tyvaso. The drug remains the company's biggest growth driver, with the more convenient Tyvaso DPI continuing to gain traction and posting 9% year-over-year sales growth in the first quarter of 2026.
A key concern for United Therapeutics is the increasing competitive pressure on its core PAH franchise. While Tyvaso DPI continues to grow, sales of nebulized Tyvaso have been declining due to market erosion following the loss of exclusivity in May 2025 and the FDA approval of Liquidia Corporation’s (LQDA - Free Report) Yutrepia, the first inhaled dry-powder competitor for PAH and PH-ILD. Yutrepia's rapid market adoption, with 44% sequential sales growth in the first quarter of 2026, underscores the growing competitive threat to Tyvaso products.
UTHR’s heavy reliance on the PAH market remains a risk as its established therapies face rising competition from generics and newer treatments. With limited diversification beyond PAH, United Therapeutics' long-term growth depends largely on the successful development and commercialization of its pipeline, making any clinical, regulatory or commercialization setbacks a potential headwind for the stock.
UTHR's Zacks Rank & Stocks to ConsiderUnited Therapeutics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Neurocrine Biosciences (NBIX - Free Report) and Amarin Corporation (AMRN - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Neurocrine Biosciences’ 2026 earnings per share have risen from $9.15 to $9.47. Over the same period, EPS estimates for 2027 have risen from $10.23 to $10.79. NBIX shares have lost 25.6% year to date.
Neurocrine Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 9.08%.
Over the past 60 days, loss per share estimates for Amarin Corporation have narrowed from $15.20 to 65 cents for 2026. Over the same period, estimates for loss per share have also narrowed from $13.00 to 51 cents for 2027. AMRN shares have risen 8.5% year to date.
Amarin Corporation’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 50.02%.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in UTHR over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
SummaryRegencell Bioscience Holdings Limited (RGC) focuses on TCM-based treatments for ADHD and Autism, targeting significant treatment gaps. I reiterate a Strong Sell on RGC, citing reliance on cost-cutting, high dilution risk, and a DOJ trading investigation overhang. RGC's valuation is unsustainable without externally validated clinical and commercial progress; shares have collapsed ~73% after a prior speculative surge. I contrast RGC’s speculative profile with United Therapeutics (UTHR), which offers proven commercial products, cash flow, and profitability. UTHR earns a Buy rating as Tyvaso expansion, ralinepag progress, and transplant investments support a multi-year earnings growth outlook. Tom Werner/DigitalVision via Getty Images
Thesis Regencell Bioscience Holdings Limited (RGC) is a Hong Kong bioscience company conducting research and development in TCM (Traditional Chinese Medicine) and its applications in neurocognitive degeneration and disorders. Their primary area
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Analyst’s Disclosure: I/we have a beneficial long position in the shares of UTHR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
I do not own or trade RGC Regencell Bioscience Holdings.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Key Takeaways United Therapeutics acquired Thymmune, adding preclinical THY-100 for congenital athymia.UTHR paid $140M upfront, with up to $160M tied to clinical and regulatory milestones through 2031.United Therapeutics said the platform complements its UThymoKidney and regenerative medicine programs. United Therapeutics (UTHR - Free Report) announced the acquisition of Thymmune Therapeutics, a Cambridge-based privately held biotech company developing scalable, regenerative thymic cell therapies. The acquisition reinforces UTHR’s commitment to advancing regenerative medicine while expanding the availability and long-term success of organ transplantation.
The acquisition adds THY-100, Thymmune’s lead investigational therapy, to UTHR’s pipeline. The candidate is in preclinical development for congenital athymia, an ultra-rare, life-threatening disorder in which infants are born without a functional thymus. The thymus is a vital organ that develops and trains T-cells, which help protect against infections and diseases.
Beyond congenital athymia, the successful clinical development of THY-100 could unlock broader applications in post-transplant immune tolerance, autoimmune diseases, immunodeficiency disorders and age-related decline in immune function.
Per the agreement, United Therapeutics made an upfront payment of $140 million in cash to Thymmune, subject to customary post-closing adjustments. The deal also includes potential milestone payments of up to $160 million, contingent upon achieving specified clinical and regulatory milestones through the end of 2031.
Year to date, shares of United Therapeutics have rallied 14.1% against the industry’s 5.9% decline.
Image Source: Zacks Investment Research
Thymmune’s proprietary regenerative medicine platform converts human-induced pluripotent stem cells into functional thymic cells. Per UTHR, Thymmune's thymic regeneration platform complements its UThymoKidney clinical development program and enhances its growing portfolio of immunomodulatory and regenerative medicine technologies.
United Therapeutics' expertise in organ alternatives and cell-based technologies makes it an ideal partner to accelerate the development of Thymmune’s thymic regeneration platform and bring transformative therapies to patients with serious immune-mediated diseases.
United Therapeutics has different kinds of organ manufacturing products across four different organs — hearts, kidneys, livers and lungs — in clinical and preclinical development. These include xenotransplantation, 3D organ bioprinting, bio-artificial organs, regenerative medicine and ex vivo lung perfusion.
The company’s xenotransplantation program includes three development-stage organ products, which are intended for transplantion from gene-edited pigs into humans. These include UKidney (derived from a 10-gene-edited source pig), UHeart (derived from a pig with 10 gene edits) and UThymoKidney (derived from a pig with a single gene edit along with tissue from the pig’s thymus).
UTHR's Zacks Rank & Stocks to ConsiderUnited Therapeutics currently carries a Zacks Rank #4 (Sell).
Some other better-ranked stocks in the biotech sector are Immunocore (IMCR - Free Report) , Amarin Corporation (AMRN - Free Report) and Liquidia Corporation (LQDA - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Immunocore’s 2026 bottom line have improved from a loss per share of 88 cents to earnings of 6 cents per share. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 6.3% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 46.66%.
Over the past 60 days, loss per share estimates for Amarin Corporation have narrowed from $15.20 to 65 cents for 2026. Over the same period, estimates for loss per share have also narrowed from $13.00 to 51 cents for 2027. AMRN shares have risen 17.3% year to date.
Amarin Corporation’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 50.02%.
Over the past 60 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.92 from $2.91. LQDA shares have gained 128.9% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR) announced today it has acquired Thymmune Therapeutics, Inc. (Thymmune), a privately held, preclinical stage biotechnology company developing scalable, regenerative thymic cell therapies for the potential treatment of post-transplant organ tolerance, immunodeficiencies, and autoimmune diseases.
The thymus is a critical organ for the development and proper function of key parts of the immune system, including training T-cells, which are essential for fighting infections and other diseases. Thymmune has a proprietary process for converting human-induced pluripotent stem cells (iPSC) into thymic cells, which — once inside the body — mature into cell types that can restore healthy T-cell function.
Thymmune’s lead candidate, THY-100, is in preclinical development for congenital athymia, an ultra-rare and life-threatening condition in which infants are born without a functional thymus. Animal studies have shown that treatment with THY-100 results in the in vivo formation of a neo-thymus that is capable of facilitating T-cell development. The clinical proof of concept and further development of THY-100 has the potential to broaden thymic regenerative medicine approaches for transplant tolerance, serious immune-mediated diseases, and enhanced longevity for older adults with diminished T-cell function.
“Thymmune’s platform complements United Therapeutics’ broader mission to expand the supply of transplantable organs, building on our UThymoKidney™ clinical development program and our growing strength in immunomodulatory therapeutics,” said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer of United Therapeutics. “By restoring or modulating T-cell receptor diversity, Thymmune’s technology could make fundamental contributions to human health care and potentially resolve the root causes of dozens of life-threatening diseases.”
“Thymmune was founded to harness the biology of the thymus to restore immune function for patients with serious immune-mediated diseases,” said Stan Wang, M.D., Ph.D., Chief Executive Officer and Founder of Thymmune Therapeutics. “United Therapeutics shares our conviction that regenerative medicine can transform the lives of patients, and we believe its leadership in organ alternatives and cell-based technologies makes it the ideal partner to advance our platform toward broad clinical impact.”
Under the terms of the agreement, United Therapeutics acquired Thymmune for $140 million in cash, subject to certain post-closing adjustments, plus potential earn-out payments to former Thymmune equityholders of up to $160 million based upon the achievement of certain clinical and regulatory milestones by the end of 2031.
About United Therapeutics
Founded by CEO Martine Rothblatt to discover a cure for her daughter's life-threatening rare disease, pulmonary arterial hypertension, United Therapeutics transforms the treatment of rare diseases and pioneers alternatives to expand the supply of transplantable organs. From our innovative therapies to our groundbreaking manufactured organs, we are bold and unconventional. We move quickly from scientific theory to practical technologies that can save lives. As a public benefit corporation, even our legal structure reflects our commitments. We serve patients, act with integrity, create long-term shareholder value, and operate with sustainable practices that protect the future we are working to build. Visit us at www.unither.com and follow us on LinkedIn, Facebook, and Instagram.
Forward-Looking Statements
Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements regarding our plans to develop THY-100 and other products based on Thymmune’s technology, including the potential to broaden thymic regenerative medicine approaches for transplant tolerance, serious immune-mediated diseases, and enhanced longevity for older adults with diminished T-cell function, the potential for Thymmune’s technology to support our organ manufacturing programs, the potential for Thymmune’s technology to make fundamental contributions to human health care and potentially resolve the root causes of dozens of life-threatening diseases, the potential earn-out payments to the former Thymmune stockholders, our goals of expanding the supply of transplantable organs, developing practical technologies that can save lives, creating long-term shareholder value, and operating with sustainable practices. These forward-looking statements are subject to certain risks and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results. Consequently, such forward-looking statements are qualified by the cautionary statements, cautionary language, and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We are providing this information as of July 2, 2026, and assume no obligation to update or revise the information contained in this press release whether because of new information, future events, or any other reason.
UTHYMOKIDNEY is a trademark of United Therapeutics Corporation.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that the U.S. Food and Drug Administration (FDA) has granted premarket approval (PMA) of the LungFXTM device (LungFX) for use in centralized ex vivo lung perfusion (EVLP), a procedure that enables donor lungs to be assessed outside the body after procurement and before transplantation. The PMA, submitted by United Therapeutics' wholly.
The formulation is being developed in collaboration with United Therapeutics Corporation United Therapeutics made an additional $5 million payment to MannKind to support the rapid advancement of ralinepag DPI United Therapeutics plans to be the primary manufacturer of ralinepag DPI MannKind eligible to receive up to $35 million in development milestones plus 10% royalties on net sales DANBURY, Conn.
United Therapeutics (UTHR) came out with quarterly earnings of $5.82 per share, missing the Zacks Consensus Estimate of $6.73 per share. This compares to earnings of $6.63 per share a year ago.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that 12 new data presentations across its commercial and development portfolio will be presented at the American Thoracic Society (ATS) International Conference, May 15-20, in Orlando. “We are thrilled to share additional positive data from the TETON-1 study in IPF and the ADVANCE OUTCOMES study in PAH, our pivotal studies that achieve.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR) announced today that James Edgemond, Chief Financial Officer and Treasurer, will provide a company overview and update on Tuesday, May 19, 2026, from 9:30 to 9:55 a.m. EST, at the RBC Capital Markets Global Healthcare Conference in New York. The presentation can be accessed via a live webcast on the United Therapeutics website at https://ir.unither.com/events-and-presentations. An.
/PRNewswire/ -- Varda Space Industries today announced a collaboration with United Therapeutics Corporation (Nasdaq: UTHR) to explore the use of microgravity
Investors interested in stocks from the Medical - Drugs sector have probably already heard of Catalyst Pharmaceutical (CPRX) and United Therapeutics (UTHR). But which of these two stocks presents investors with the better value opportunity right now?
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that the U.S. Food and Drug Administration (FDA) has granted clearance under the company's Investigational New Drug application to proceed with a clinical study of its investigational UHeart™ derived from a pig with 10 gene edits. The study, known as EXPRESS, will enroll an initial cohort of up to two participants. United Therapeutics.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that full results of its ADVANCE OUTCOMES study are being presented today during the Breaking News: 2026 Clinical Trial Results in Pulmonary Medicine session at the annual meeting of the American Thoracic Society (ATS) International Conference in Orlando. Ralinepag has not been approved for use in any indication by the U.S. Food and Dr.
United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that full results of its ADVANCE OUTCOMES study are being present
The pivotal TETON-1 phase 3 study of nebulized Tyvaso® (treprostinil) Inhalation Solution in idiopathic pulmonary fibrosis (IPF) preserved lung function as measured by absolute forced vital capacity (FVC) and demonstrated reduced risk of a clinical worsening event, meeting both its primary endpoint and a key secondary endpoint with statistical significance, respectively
In combined analyses of TETON-1 and TETON-2 — also included in the NEJM publication and presented at ATS — nebulized Tyvaso achieved statistically significant treatment effects across the primary and most secondary efficacy endpoints
Nebulized Tyvaso combines direct lung delivery with multi-modal activity across fibrotic, vascular, and inflammatory pathways that are not currently addressed by existing IPF therapies
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR), a public benefit corporation, today announced that the New England Journal of Medicine has published the full results of its TETON-1 study, as well as combined analyses of its TETON-1 and TETON-2 studies, evaluating the use of nebulized Tyvaso for the treatment of IPF. The publication is available here. A summary of the publication was also presented today during a symposium at the annual meeting of the American Thoracic Society (ATS) International Conference in Orlando. The use of nebulized Tyvaso for IPF has not been approved by the U.S. Food and Drug Administration (FDA) and remains investigational for IPF.
The results of TETON-1 were also presented at ATS during the Breaking News: 2026 Clinical Trial Results in Pulmonary Medicine session on Sunday, May 17. Combined results from TETON-1 and TETON-2 were presented today during an oral session at ATS.
TETON-1 met its primary efficacy endpoint, with nebulized Tyvaso demonstrating statistically significant improvement in absolute FVC relative to placebo from baseline to week 52 in an IPF population broadly treated with background therapy. The median change in FVC at week 52 was −43.3 mL (95% confidence interval [CI], −92.1 to −9.1) in the nebulized Tyvaso group and −196.2 mL (95% CI, −227.1 to −155.6) in the placebo group; between-group difference was 130.1 mL (95% CI, 82.2 to 178.1; P<0.001).
Nebulized Tyvaso reduced the risk of a clinical worsening event by 33% (hazard ratio [HR], 0.67; 95% CI, 0.52 to 0.88; P=0.0034) relative to placebo, a statistically significant improvement in this key secondary endpoint. Nebulized Tyvaso showed numerical improvement in other important secondary endpoints, including improved change in percent of predicted FVC, King’s Brief Interstitial Lung Disease quality of life questionnaire (K-BILD), and change in percent of predicted diffusion capacity of lungs for carbon monoxide (DLCO).
Benefits of nebulized Tyvaso in TETON-1 were observed across all subgroups, including use of background therapy (nintedanib, pirfenidone, or no background therapy), smoking status, and supplemental oxygen use.
Combined analyses of TETON-1 and TETON-2 showed that nebulized Tyvaso achieved statistically significant treatment effects compared to placebo from baseline to week 52 for the primary endpoint and for most key secondary endpoints.
The median change in FVC at 52 weeks in the combined data set was −45.4 mL (95% CI, −73.8 to −23.1) in the nebulized Tyvaso group and −161.7 mL (95% CI, −194.5 to −134.1) in the placebo arm; between-group difference was 111.8 mL (95% CI, 79.7 to 144; P<0.0001).
Nebulized Tyvaso reduced the risk of a clinical worsening event in the combined data set by 31% (HR: 0.69; 95% CI, 0.57 to 0.84; P=0.0002) and the risk of acute IPF exacerbation by 48% (HR: 0.52; 95% CI, 0.30 to 0.91; P=0.0223) relative to placebo. Nebulized Tyvaso also achieved statistically significant improvements in changes in percent predicted FVC, K-BILD score, and DLCO. Overall survival at week 52 trended in favor of Tyvaso but did not meet statistical significance.
“The results of TETON-1 validate what was seen in TETON-2. The combined analysis provides an incredibly powerful dataset with both studies complementing each other well. The meaningful effect on FVC decline observed across all subgroups, as well as achieving positive results for five out of six secondary endpoints in the combined analysis, is truly impressive for a 52-week treatment duration. These findings have the potential to fundamentally impact how we target IPF and manage patients living with this devastating disease. Speaking on behalf of the steering committee, we are incredibly grateful to all the investigators, research coordinators, and most importantly, to all the patients who participated. Their willingness to participate epitomizes taking the fight back to the disease,” said Steven D. Nathan, M.D., Schar Chair, Advanced Lung Disease and Lung Transplant Program at Inova Fairfax Hospital and Chair of the TETON Steering Committee.
“The profound impact of the TETON clinical program in IPF, with combined results showing significantly improved preservation of lung function and quality of life, as well as reductions in disease worsening and acute IPF exacerbations, represents a truly important advancement for people living with this progressive, life-threatening disease,” said Martine Rothblatt, Ph.D., Chairperson and Chief Executive Officer of United Therapeutics. “We are incredibly proud that our rigorous clinical trials and their unprecedented results continue to receive prestigious recognition from a high caliber journal like The New England Journal of Medicine and from ATS leadership.”
“Nebulized Tyvaso combines direct lung delivery with multimodal activity across fibrotic, vascular, and inflammatory pathways that are not currently addressed by existing IPF therapies. The unprecedented results of our TETON clinical program — in which nebulized Tyvaso achieved statistical significance in endpoints never before attained in other IPF clinical trials — support the importance of this differentiated, multi-pathway activity,” said Peter Smith, Pharm.D., Senior Vice President, Product Development at United Therapeutics and the lead for the global TETON program.
United Therapeutics plans to seek priority review of a supplemental New Drug Application, to be submitted to the FDA by the end of this summer, to add IPF to the labeled indications for nebulized Tyvaso based on data from the TETON-1 and TETON-2 studies. Both the FDA and the European Medicines Agency have granted orphan designation for treprostinil to treat IPF.
Full results of the TETON-2 study were also recently published in the New England Journal of Medicine and are available online at NEJM.org.
TETON Clinical Program
A post-hoc analysis of the INCREASE study in patients with pulmonary hypertension associated with interstitial lung disease suggested that nebulized Tyvaso was associated with a significant improvement in FVC, laying the foundation for the TETON clinical program to evaluate the use of nebulized Tyvaso in IPF and progressive pulmonary fibrosis (PPF). TETON-1 enrolled patients with IPF in the United States and Canada, and TETON-2 enrolled patients with IPF outside the United States and Canada. TETON-PPF is evaluating the use of nebulized Tyvaso in PPF in patients globally, and enrollment is ongoing.
The use of nebulized Tyvaso for IPF and PPF has not been approved by the FDA and remains investigational.
TETON-1 Study Design
The TETON-1 study (NCT04708782) was a 598-patient, multicenter, randomized, double-blind, placebo-controlled phase 3 registration study evaluating the safety and efficacy of nebulized Tyvaso in patients with IPF over a 52-week period at sites in the United States and Canada. The study reached full enrollment in January 2025.
The primary endpoint of the study was the change in absolute FVC from baseline to week 52. Secondary endpoints included: (1) time to clinical worsening; (2) time to first acute exacerbation of IPF; (3) overall survival at week 52; (4) change in percent predicted FVC from baseline to week 52; (5) change in the K-BILD questionnaire from baseline to week 52; and (6) change in DLCO from baseline to week 52.
Safety assessments included the development of adverse events, serious adverse events, vital signs, clinical laboratory parameters, and electrocardiogram parameters.
Eligible patients completing the TETON-1 study could enroll in the TETON-OLE study (NCT04905693), an ongoing open-label extension study to evaluate the long-term safety and tolerability of nebulized Tyvaso in patients with fibrotic lung disease.
About IPF
Idiopathic pulmonary fibrosis, or IPF, is a scarring disease of the lungs of an unknown (idiopathic) cause and is the most common of the idiopathic interstitial pneumonias. IPF is characterized by the progressive loss of the ability of the lungs to transfer oxygen into the blood, ultimately resulting in respiratory failure and death. While the precise causes of IPF remain unknown, IPF rarely presents before age 50 and can be associated with cigarette smoking and certain genetic dispositions. In addition, some evidence suggests that gastroesophageal reflux (acid reflux, or heartburn), certain viral infections, air pollution, and workplace exposures may be risk factors for IPF. IPF is estimated to affect between 0.33 and 4.51 people per 10,000 persons worldwide. Further, United Therapeutics estimates there are over 100,000 IPF patients in the United States.
About Tyvaso® (treprostinil) Inhalation Solution
INDICATION
TYVASO (treprostinil) Inhalation Solution is a prostacyclin mimetic indicated for the treatment of:
Pulmonary arterial hypertension (PAH; WHO Group 1) to improve exercise ability. Studies with TYVASO establishing effectiveness predominately included patients with NYHA Functional Class III symptoms and etiologies of idiopathic or heritable PAH (56%) or PAH associated with connective tissue diseases (33%). The effects diminish over the minimum recommended dosing interval of 4 hours; treatment timing can be adjusted for planned activities.
While there are long-term data on use of treprostinil by other routes of administration, nearly all clinical experience with inhaled treprostinil has been on a background of an endothelin receptor antagonist (ERA) and/or a phosphodiesterase type 5 (PDE-5) inhibitor. The controlled clinical experience with TYVASO was limited to 12 weeks in duration.
Pulmonary hypertension associated with interstitial lung disease (PH-ILD; WHO Group 3) to improve exercise ability. The study with TYVASO establishing effectiveness predominately included patients with etiologies of idiopathic interstitial pneumonia (IIP) (45%) inclusive of idiopathic pulmonary fibrosis (IPF), combined pulmonary fibrosis and emphysema (CPFE) (25%), and WHO Group 3 connective tissue disease (22%). IMPORTANT SAFETY INFORMATION
WARNINGS AND PRECAUTIONS
TYVASO is a pulmonary and systemic vasodilator. In patients with low systemic arterial pressure, TYVASO may produce symptomatic hypotension.
TYVASO inhibits platelet aggregation and increases the risk of bleeding.
Co-administration of a cytochrome P450 (CYP) 2C8 enzyme inhibitor (e.g., gemfibrozil) may increase exposure (both Cmax and AUC) to treprostinil. Co-administration of a CYP2C8 enzyme inducer (e.g., rifampin) may decrease exposure to treprostinil. Increased exposure is likely to increase adverse events associated with treprostinil administration, whereas decreased exposure is likely to reduce clinical effectiveness.
Like other inhaled prostaglandins, TYVASO may cause acute bronchospasm. Patients with asthma or chronic obstructive pulmonary disease (COPD), or other bronchial hyperreactivity, are at increased risk for bronchospasm. Ensure that such patients are treated optimally for reactive airway disease prior to and during treatment with TYVASO.
DRUG INTERACTIONS/SPECIFIC POPULATIONS
The concomitant use of TYVASO with diuretics, antihypertensives, or other vasodilators may increase the risk of symptomatic hypotension.
Human pharmacokinetic studies with an oral formulation of treprostinil (treprostinil diolamine) indicated that co-administration of the cytochrome P450 (CYP) 2C8 enzyme inhibitor, gemfibrozil, increases exposure (both Cmax and AUC) to treprostinil. Co-administration of the CYP2C8 enzyme inducer, rifampin, decreases exposure to treprostinil. It is unclear if the safety and efficacy of treprostinil by the inhalation route are altered by inhibitors or inducers of CYP2C8.
Limited case reports of treprostinil use in pregnant women are insufficient to inform a drug-associated risk of adverse developmental outcomes. However, pulmonary arterial hypertension is associated with an increased risk of maternal and fetal mortality. There are no data on the presence of treprostinil in human milk, the effects on the breastfed infant, or the effects on milk production.
Safety and effectiveness in pediatric patients have not been established.
Across clinical studies used to establish the effectiveness of TYVASO in patients with PAH and PH ILD, 268 (47.8%) patients aged 65 years and over were enrolled. The treatment effects and safety profile observed in geriatric patients were similar to younger patients. In general, dose selection for an elderly patient should be cautious, reflecting the greater frequency of hepatic, renal, or cardiac dysfunction, and of concomitant diseases or other drug therapy.
ADVERSE REACTIONS
Pulmonary Arterial Hypertension (WHO Group 1)
In a 12-week, placebo-controlled study (TRIUMPH I) of 235 patients with PAH (WHO Group 1 and nearly all NYHA Functional Class III), the most common adverse reactions seen with TYVASO in ≥4% of PAH patients and more than 3% greater than placebo were cough (54% vs 29%), headache (41% vs 23%), throat irritation/pharyngolaryngeal pain (25% vs 14%), nausea (19% vs 11%), flushing (15% vs <1%), and syncope (6% vs <1%). In addition, adverse reactions occurring in ≥4% of patients were dizziness and diarrhea.
Pulmonary Hypertension Associated with ILD (WHO Group 3)
In a 16-week, placebo-controlled study (INCREASE) of 326 patients with PH-ILD (WHO Group 3), adverse reactions with TYVASO were similar to the experience in studies of PAH.
Please see Full Prescribing Information for TYVASO, the TD-300 TYVASO® Inhalation System Instructions for Use manual, and additional information at www.TYVASOHCP.com or call 1 844 UNITHER (1-844-864-8437).
About United Therapeutics
Founded by CEO Martine Rothblatt to discover a cure for her daughter's life-threatening rare disease, pulmonary arterial hypertension, United Therapeutics transforms the treatment of rare diseases and pioneers alternatives to expand the supply of transplantable organs. From our innovative therapies to our groundbreaking manufactured organs, we are bold and unconventional. We move quickly from scientific theory to practical technologies that can save lives. As a public benefit corporation, even our legal structure reflects our commitments. We serve patients, act with integrity, create long-term shareholder value, and operate with sustainable practices that protect the future we are working to build. Visit us at www.unither.com and follow us on LinkedIn, Facebook, and Instagram.
Forward-Looking Statements
Statements included in this press release that are not historical in nature are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, among others, statements regarding the timing and anticipated outcome of our planned regulatory submission to the FDA to seek approval to add IPF to the labeled indications for nebulized Tyvaso, including our plan to seek priority review; our expectations concerning the potential benefits of nebulized Tyvaso for IPF patients, including the potential to fundamentally impact how physicians target IPF and manage patients living with this devastating disease; and our goals of expanding the supply of transplantable organs, developing practical technologies that can save lives, creating long-term shareholder value, and operating with sustainable practices. These forward-looking statements are subject to certain risks and uncertainties, such as those described in our periodic reports filed with the Securities and Exchange Commission, that could cause actual results to differ materially from anticipated results. Consequently, such forward-looking statements are qualified by the cautionary statements, cautionary language, and risk factors set forth in our periodic reports and documents filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. We claim the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We are providing this information as of May 18, 2026, and assume no obligation to update or revise the information contained in this press release whether as a result of new information, future events or any other reason.
TYVASO is a registered trademark of United Therapeutics Corporation.
SILVER SPRING, Md. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--United Therapeutics Corporation (Nasdaq: UTHR) announced today that James Edgemond, Chief Financial Officer and Treasurer, will provide a company overview and update on Wednesday, June 3, 2026, from 12:45 to 1:15 p.m. EST, at the Jefferies Global Healthcare Conference in New York. The presentation can be accessed via a live webcast on the United Therapeutics website at https://ir.unither.com/events-and-presentations. An archive.
While the latest stock market upsurge turned Micron (NASDAQ: MU) into a household name, Jim Simons made a prodigious investment in the memory company as far back as 2013 – when it was trading at approximately $18 – and saw the equity rise almost exactly 5,000% since.
Over the years, the billionaire’s Renaissance Technologies made multiple adjustments to the position, meaning he did not see the entire return from the initial bet, but given MU shares, performance in recent months, it is nonetheless significantly ‘in the money.’
Specifically, Jim Simons’ fund increased its investment in Micron by 151% in the fourth quarter (Q4) of 2025 by acquiring nearly $660 million worth of the stock. At the time, the memory giant was trading in the range between approximately $180 and $300.
At press time on May 29, and after a 223.58% year-to-date (YTD) rally, MU is changing hands at $923.52. Therefore, the position reported as worth $859 million at the end of 2025 would have risen to $2.77 billion in just five months had the investor not reduced the stake by 21% in Q1.
Micron stock price YTD chart. Source: Finbold Still, the subsequent 13-F filing – the one covering Q1 2026 – shows that Micron was Renaissance’s fifth-largest portfolio holding, and Finbold decided to examine its fortunes with the largest four positions.
Jim Simons’ Kinross Gold stock investment Renaissance Technologies first began developing its fourth-largest – as of the most recent filing – position, Kinross Gold Corp (NYSE: KGC), as far back as 2013, when the shares were trading at roughly $5.82.
In the fund’s typical fashion, there were multiple balance changes, and the most recent substantial purchase that was not succeeded by a comparable sale came during the first three months of 2026 at an average quarterly price of $34.02.
Considering that KCG stock is, at press time on May 29, changing hands at $29.29, Simons could be up 403% relative to the initial buy, but might be 14% in the red on the most recent purchase.
KGC stock price all-time chart. Source: Google Jim Simons’ Apple stock investment The situation would have been significantly better regarding the third-largest portfolio position – Apple (NASDAQ: AAPL) – had the billionaire held the original, 2013 stake, likely acquired at an average price of $15.38.
Indeed, AAPL shares have rallied 1,920% to $310.66 since then, but, notably, Simons’ fund reestablished the holding only in Q1 2026 – after clearing it during the previous year – at approximately $260.16, indicating he is still in the green, albeit by a relatively limited 19.41%.
Apple stock price one-year chart. Source: Finbold Jim Simons’ Palantir stock investment Thanks to the extensive trading and its relative recency, the performance of Renaissance Technologies’ Palantir (NASDAQ: PLTR) is somewhat more difficult to gauge, though it is evident the billionaire has profited overall from the bet on the firm, given it was, at the end of Q1 2026, the second-biggest portfolio holding.
Jim Simons made his first PLTR purchases at roughly $24 toward the middle of 2021, and his most recent significant buy was at about $180.80 and executed during the final three months of the previous year.
Palantir shares themselves are, at press time on May 29, changing hands at $146.77, meaning they soared 511% relative to the taking of the original position but fell 18.82% relative to the most recent known buys.
Palantir stock price one-year chart. Source: Finbold Jim Simons’ United Therapeutics stock investment Lastly, Jim Simons largest stock position – accounting for 1.7% of the 3,213-stock portfolio relative to Micron’s 1.1% – is undeniably up compared to the original likely average purchase price of $64.42 in 2013 and the most recent, Q3 2025, of $335.18.
United Therapeutics stock price YTD chart. Source: Finbold Indeed, having risen 13.16% year-to-date (YTD) to $565.50, United Therapeutics Corp (NASDAQ: UTHR) is 777.83% above the value at the time the original stake was built, and 68.72% above where it stood during the latest increase.
Investors interested in stocks from the Medical - Drugs sector have probably already heard of Sandoz Group AG Sponsored ADR (SDZNY) and United Therapeutics (UTHR). But which of these two stocks presents investors with the better value opportunity right now?
While markets often view large-scale buyback authorizations as positives in and of themselves, authorizations are just one part of the buyback equation. Unlike dividends, which companies must pay after declaring, there is no hard requirement for companies to spend the buyback capacity they authorize.
Thus, many of the benefits of buybacks do not occur until companies turn their words into action. In Q1 2026, these three firms did just that, spending billions on share repurchases. However, looking at raw dollars alone does not fully capture the size of their buybacks. The spending at these firms was also very high relative to their market capitalization, enabling significant share count reductions.
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Pinterest Sees Massive Share Count Drop in Q1First up is the visual discovery application Pinterest NYSE: PINS, which has had a poor start to 2026, down more than 15% on the year. Pinterest’s adjusted earnings per share (EPS) postings have been a very significant weak point over the recent past. The firm has missed on this metric in five of its last six reports.
Pinterest Today
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52-Week Range$13.84▼
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Price Target$27.40
However, its latest quarter was the exception, with Pinterest beating on both sales and adjusted EPS. Sales eclipsed $1 billion, with a solid growth rate of 18% year over year (YOY)—one of its best showings in several quarters. Meanwhile, adjusted EPS rose 17% YOY to 27 cents. Notably, Pinterest has nearly tripled its monthly active user base since 2017, with the figure now standing at 631 million strong.
Pinterest also spent big on buybacks during the quarter. Total repurchases came in at approximately $2 billion, dropping its outstanding share count by a whopping 16%. That is a rather astounding figure, which many companies would be happy to achieve over the course of multiple years. Additionally, the company still has significant buyback capacity of $2 billion that it can use to lower its share count further.
Southwest Drops Over $1 Billion on Buybacks as Fuel Prices Take a TollShares of Southwest Airlines NYSE: LUV are essentially flat in 2026, with factors outside its control weighing heavily on the company. These include highly elevated jet fuel prices, which surged after the beginning of the conflict in Iran. The company notes that in its latest quarter, fuel was a 22-cent headwind to adjusted EPS. This is massive, considering that Southwest’s total adjusted EPS during the quarter was just 45 cents.
Southwest Airlines Today
LUV
Southwest Airlines
$45.36 +1.07 (+2.42%)
As of 02:25 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$28.98▼
$55.11Dividend Yield1.59%
P/E Ratio29.26
Price Target$44.21
Still, Southwest was able to dramatically improve its bottom line, as the company posted an adjusted loss per share of 13 cents a year ago. Operating margin greatly improved by 810 basis points to 4.6%, which the company credits to its transformation initiatives. These initiatives include a shift away from its first-come, first-served seating model. The goal of this is to attract customers who are willing to pay more in order to secure their seats, and thus drive up margins.
Southwest’s buyback spending in Q1 came in at $1.25 billion, allowing the firm to drop its outstanding share count by a very significant 5%. This marks a continuation of Southwest’s highly aggressive buyback strategy. Since the beginning of 2025, Southwest has lowered its share count by around 19%. The firm still holds a moderate amount of buyback capacity, with $450 million left under its current authorization.
United Therapeutics Scores Tyvaso Win, Lowers Share Count Over 3%United Therapeutics NASDAQ: UTHR has fared much better than Pinterest and Southwest during 2026, with shares up more than 10%. The stock has seen three single-day spikes during the year of 10% or greater. The most recent of these came in late March, as the company released strong results on its nebulized Tyvaso treatment. The drug met its primary endpoint for the treatment of idiopathic pulmonary fibrosis (IPF).
United Therapeutics Today
UTHR
United Therapeutics
$541.05 -4.35 (-0.80%)
As of 02:24 PM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$272.12▼
$609.35P/E Ratio19.97
Price Target$619.42
Tyvaso is already approved for other conditions, and the company is aiming to make IPF its next market. If approved, analysts at Jefferies suggest that Tyvaso could have a $5 billion to $10 billion opportunity in IPF. With this, it makes sense why shares gained over 12% after these results.
In March, United entered into and utilized a $1.5 billion accelerated share repurchase (ASR) program—buying back its stock quickly. In turn, the company saw its outstanding share count fall by around 3.2% during the quarter. When announcing this program, management was resolute in its confidence around the future of UTHR shares. The company’s CEO noted, “we believe there is a clear disconnect between United Therapeutics’ fundamentals and valuation." The company retains $500 million in buyback capacity, equal to around 2% of its market capitalization.
Pinterest Holds Large Buyback Firepower After Spending SpreePinterest, Southwest, and United Therapeutics put their money where their mouth was in Q1 2026, sending their share counts down significantly. Pinterest was the clear standout, and comparing its spending to Southwest’s demonstrates this.
In one quarter, Pinterest reduced its share count by 16%, just under the impressive 19% reduction Southwest achieved over five quarters. The firm’s remaining buyback capacity is still very large, equal to almost 17% of its $12 billion market capitalization. Pinterest’s big-time spending indicates it has strong confidence going forward, even as shares face pressure.
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