MannKind Receives $1 Million Milestone From RLS
VALENCIA, Calif., Jan. 03, 2017 (GLOBE NEWSWIRE) -- MannKind Corporation (NASDAQ:MNKD) (TASE:MNKD) today confirmed that following the completion of initial formulation studies it received a $1 million milestone payment from Receptor Life Sciences, Inc. (RLS) on Friday, December 30, 2016. This milestone payment is part of a previously announced collaboration and license agreement between the company and RLS.
Matthew J. Pfeffer, Chief Executive Officer of MannKind, commented, "The results of these studies have further validated the versatility of our formulation technology. We are pleased with the progress to date and look forward to the next phase of product development in our collaboration with RLS."
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