United Therapeutics(US:UTHR) ZACKS·2025-10-29 16:26Core Insights - United Therapeutics reported Q3 2025 earnings of $7.16 per share, exceeding the Zacks Consensus Estimate of $6.89, with a year-over-year increase of 12% driven by higher product sales [1][6] - Total revenues for Q3 were $799.5 million, falling short of the Zacks Consensus Estimate of $818 million, but still reflecting a 7% year-over-year growth, primarily from Tyvaso and Orenitram [2][6] Financial Performance - Tyvaso sales reached $478 million, a 10% increase year-over-year, although it missed the Zacks Consensus Estimate of $484 million [4][6] - Tyvaso DPI sales were $336.2 million, up 22% year-over-year, while nebulized Tyvaso sales declined 11% to $141.8 million [5][6] - Orenitram sales increased 16% year-over-year to $131.1 million, while Remodulin sales decreased 2% to $125.9 million, and Unituxin sales fell 22% to $47.9 million [7] Research and Development - R&D expenses rose 23% year-over-year to $127.5 million due to higher clinical development costs and share-based compensation [8] - The company is advancing key phase III programs, including Tyvaso for chronic fibrosing interstitial lung disease and oral ralinepag for PAH [9][12] Clinical Studies and Future Outlook - The TETON-2 study demonstrated that Tyvaso improved lung function in IPF patients, with a significant improvement in forced vital capacity (FVC) [10][11] - Management anticipates that the TETON-2 data could expand Tyvaso's therapeutic applications and support long-term growth [11] - A data readout from the TETON-1 study is expected in the first half of 2026, with plans to expedite regulatory review with the FDA [11]