United Therapeutics' (UTHR) development of a soft-mist inhaler for treprostinil or Tyvaso could boost the company's market share as the future of Tyvaso dry powder inhaler remains unclear, RBC Capital Markets said Wednesday.
The company reported Q4 earnings of $7.70 per diluted share, up from $6.19 a year earlier, as revenue increased to $790.2 million from $735.9 million. RBC said Q4 revenue from both the Tyvaso franchise and Tyvaso dry powder inhaler, or DPI, missed market expectations.
The "surprise announcement" of the soft-mist inhaler or SMI is a positive and could improve the profile of the company's inhaled Tyvaso franchise versus competitors, according to RBC. United Therapeutics claimed that the SMI could reduce cough and improve convenience, while maintaining efficacy, RBC noted.
SMI remains under development and United Therapeutics expects to complete filings this year for a potential launch in 2027, the brokerage said.
RBC raised its price target on United Therapeutics to $643 from $587, with an outperform rating.
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