UNITED THERAPEUTICS Corp
UTHR evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for UTHR—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · UTHR
United Therapeutics Corp is a publicly traded biotechnology company focused on developing and commercializing therapies for pulmonary arterial hypertension and other chronic diseases, with a growing pipeline in organ transplantation and infectious disease.
Key risk: Generic competition for treprostinil
BioSniper Score
Based on 6 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 7 pipeline candidates · 317 clinical trials · 20 catalysts for UNITED THERAPEUTICS Corp.
United Therapeutics Corp is a publicly traded biotechnology company focused on developing and commercializing therapies for pulmonary arterial hypertension and other chronic diseases, with a growing pipeline in organ transplantation and infectious disease.
- Reported total revenue of $783.3M and net income of $333.0M for the six months ended June 30, 2026 [sec].
- Cash and equivalents of $1,803.2M as of June 30, 2026, with shareholders' equity of $7,096.2M [sec].
- Revenue growth has been driven by treprostinil-based therapies, including Tyvaso DPI and nebulized Tyvaso for PH-ILD [sec_mda].
- The company operates as a Delaware public benefit corporation (PBC) since 2021 [sec].
- Multiple Phase 3 trials are ongoing across pain management, tuberculosis, and other indications, with topline data expected through 2027 [catalyst_timeline].
What works
- Consistent year-over-year revenue growth since 2019, with record revenues in 2024 [sec].
- Industry-leading profitability with net income margin of 42% and EBITDASO margin of 54% in 2023 [sec].
- Strong cash position of $1.8B as of June 30, 2026, supporting R&D and capital expenditures [sec].
- Broad pipeline with multiple Phase 3 programs targeting large markets (pain, TB, transplantation) [sec_mda].
What to weigh
- Dependence on treprostinil-based therapies for the majority of revenue, with potential generic competition [sec].
- R&D pipeline includes many early-stage programs with uncertain regulatory and commercial outcomes [sec_mda].
- Capital expenditure commitments of ~$180M through 2028 for new facilities, which may pressure cash if revenues decline [sec_mda].
- Legal and regulatory environment is increasingly complex, posing risks to operations and patent protection [sec_mda].
From the filings
Quoted directly from source documents.
Revenue growth driven by treprostinil therapies
“Revenue grew 20% in 2023 compared to 2022 • Total revenues reached an all-time high • The number of U.S. patients on our treprostinil-based therapies reached an all-time high • Tyvaso revenue grew by 41% in 2023 compared to 2022”
SEC filings · April 29, 2024
Company operates as a public benefit corporation
“we continued our leadership as a Delaware public benefit corporation ( PBC ) with the publication of our second Corporate Responsibility and Public Benefit Report”
SEC filings · April 29, 2024
Strong profitability metrics
“Net income exceeded $980.0 million in 2023 • Net income margin was 42% and EBITDASO margin* was 54% in 2023”
SEC filings · April 29, 2024
Capital expenditure plans for new facilities
“We have budgeted approximately $180 million for capital expenditures for the period July 1, 2026 through the end of 2028 to construct additional facilities”
SEC MD&A · August 5, 2026
Catalyst timeline
- 2026-09-01 · Phase3_Topline — Phase 3 Topline: Opiate-sparing Post-operative Pain Control in Septorhinoplasty — Topline data from a Phase 3 trial evaluating an opiate-sparing approach for pain control after septorhinoplasty.
- 2026-11-01 · Phase2_Start · momelotinib — Phase 2 Start: Phase 2 Study to Assess the Safety and Efficacy of Bomedemstat (IMG-7289) in Combination With Momelotinib — Initiation of a Phase 2 study combining bomedemstat with momelotinib for an undisclosed indication.
- 2026-12-01 · Phase3_Topline — Phase 3 Topline: A Phase 3 Open-label Extension (OLE) Study to Evaluate the Long-term Safety and Efficacy of Ralinepa — Topline results from an open-label extension study assessing long-term safety and efficacy of ralinepag.
- 2027-03-01 · Phase3_Topline — Phase 3 Topline: Effect of NSAIDs on Union, Opioid Utilization and Pain Management for Tibia Fractures — Topline data from a Phase 3 trial evaluating NSAIDs for pain management and bone union in tibia fractures.
- 2027-09-30 · Phase3_Topline — Phase 3 Topline: Shortened Regimen for Drug-susceptible TB in Children — Topline results from a Phase 3 trial testing a shortened treatment regimen for drug-susceptible tuberculosis in children.
- 2027-10-22 · Phase3_Topline — Phase 3 Topline: A Multicenter, Randomized, Double-Blind, Parallel-Group, Placebo-Controlled Phase III Trial to Evalu — Topline data from a Phase 3 placebo-controlled trial for an undisclosed indication.
- 2027-11-01 · Phase3_Topline — Phase 3 Topline: Single-Centre, Open-labeled, Randomized, Phase IIb and Phase III Clinical Studies to Evaluate the Sa — Topline results from combined Phase IIb/III studies evaluating safety and efficacy of a treatment.
- 2027-11-01 · Phase3_Topline — Phase 3 Topline: A Randomized, Double-blind, Placebo-controlled, Multinational, Phase 3 Study of the Efficacy and Saf — Topline data from a multinational Phase 3 placebo-controlled trial for an undisclosed indication.
Risks & what to watch (4)›
Key risks
- Generic competition for treprostinil — Revenue heavily reliant on treprostinil therapies; generic competition could erode market share [sec].
- Regulatory and legal complexity — Increasingly complex legal and regulatory environment may impact operations and patent defense [sec_mda].
- Capital expenditure burden — ~$180M committed for new facilities through 2028, which may strain cash if revenues decline [sec_mda].
- Pipeline execution risk — Many R&D programs are early-stage; clinical trial failures or delays could impair growth [sec_mda].
What to watch
- Phase 3 topline data for ralinepag DPI in pulmonary hypertension, expected December 2026 [catalyst_timeline].
- Phase 3 topline data for opiate-sparing pain control in septorhinoplasty, expected September 2026 [catalyst_timeline].
- Phase 2 start for bomedemstat in combination with momelotinib, expected November 2026 [catalyst_timeline].
- Phase 3 topline data for tuberculosis shortened regimen, expected September 2027 [catalyst_timeline].
Sources: SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.13 · 8% dilution
Lead: Approved
7 candidates
20 upcoming, next in ~2d
1 buy · 1749 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
851
Total value held
$25.32B
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 5,399,649 | $3.20B |
| vanguard capital management llc | 3,915,078 | $2.32B |
| wellington management group llp | 2,264,247 | $1.34B |
| vanguard portfolio management llc | 2,003,742 | $1.19B |
| state street corp | 1,843,963 | $1.09B |
| renaissance technologies llc | 1,787,019 | $1.06B |
| janus henderson group plc | 1,733,860 | $1.03B |
| geode capital management, llc | 1,233,029 | $729.9M |
| caption management, llc | 1,151,645 | $682.9M |
| susquehanna international group, llp | 862,496 | $511.4M |
Showing top 10 of 851 institutional holders of UNITED THERAPEUTICS Corp. Open the full 13F history after sign-in.
Short Interest
as of Apr 28, 2026- % of float
- 8.2%
- Days to cover
- 4.2
- Shares short
- 2,703,199
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
UTHR short interestGovernance
Frequently asked questions
What is the AI investment thesis for UNITED THERAPEUTICS Corp?
United Therapeutics Corp is a publicly traded biotechnology company focused on developing and commercializing therapies for pulmonary arterial hypertension and other chronic diseases, with a growing pipeline in organ transplantation and infectious disease.
What is UNITED THERAPEUTICS Corp's lead drug candidate?
UNITED THERAPEUTICS Corp's most advanced tracked candidate is Adcirca (Approved) for Pulmonary arterial hypertension (PAH).
What is UNITED THERAPEUTICS Corp's next catalyst?
UNITED THERAPEUTICS Corp's next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: Opiate-sparing Post-operative Pain Control in Septorhinoplasty: A Prospective Randomized, Double Bli" — expected September 1, 2026.
Who is the CEO of UNITED THERAPEUTICS Corp?
Dr. Martine A. Rothblatt J.D., M.B.A., Ph.D. is the chief executive officer of UNITED THERAPEUTICS Corp (UTHR).
Where is UNITED THERAPEUTICS Corp headquartered?
UNITED THERAPEUTICS Corp (UTHR) is headquartered in Silver Spring, MD, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.