Truist Initiates MannKind at Buy on Royalty and Pipeline Growth

Core Viewpoint - Truist Securities has initiated coverage on MannKind (NASDAQ: MNKD) with a Buy rating and a price target of $9 [1] Group 1: Commercial and Development Programs - MannKind's execution in both commercial and development programs is viewed positively by Truist [2] - The valuation outlook is primarily driven by Tyvaso DPI royalty revenue, with projected growth in idiopathic pulmonary fibrosis (IPF) and pulmonary hypertension associated with interstitial lung disease (PPF) [2] - Truist estimates peak revenue of approximately $300 million for the Tyvaso franchise by 2030 [2] Group 2: Additional Growth Opportunities - Additional upside is anticipated from Afrezza in diabetes, with potential expansion into pediatric use next year [3] - Furoscix, acquired through the purchase of scPharma, is also expected to contribute to growth [3] - MannKind's orphan-lung pipeline offers further diversification and long-term growth opportunities [3]