United Therapeutics reported Q3 2024 revenue of $748.9 million, up 23% YoY, driven by strong growth in Tyvaso sales. Total Tyvaso revenue increased 33% to $433.8 million, with Tyvaso DPI sales up 34% to $274.6 million. Net income rose to $343.9 million from $267.7 million in Q3 2023.R&D expenses grew 22% to $103.5 million, reflecting increased spending on manufactured organ projects. The company accrued a $65.1 million litigation liability related to its ongoing case with Sandoz. Share-based compensation expense nearly doubled to $41.7 million due to higher restricted stock unit costs.United Therapeutics highlighted progress in its xenotransplantation program, including successful preclinical tests of its UKidney and UHeart products. The company plans to submit an IND for UKidney soon to begin clinical trials. It also completed acquisitions of Miromatrix and IVIVA to expand its organ manufacturing capabilities. Management expressed confidence in near-term revenue growth driven by Tyvaso DPI adoption and expansion into new indications.

United Therapeutics reported Q3 2024 revenue of $748.9 million, up 23% YoY, driven by strong growth in Tyvaso sales. Total Tyvaso revenue increased 33% to $433.8 million, with Tyvaso DPI sales up 34% to $274.6 million. Net income rose to $343.9 million from $267.7 million in Q3 2023.R&D expenses grew 22% to $103.5 million, reflecting increased spending on manufactured organ projects. The company accrued a $65.1 million litigation liability related to its ongoing case with Sandoz. Share-based compensation expense nearly doubled to $41.7 million due to higher restricted stock unit costs.United Therapeutics highlighted progress in its xenotransplantation program, including successful preclinical tests of its UKidney and UHeart products. The company plans to submit an IND for UKidney soon to begin clinical trials. It also completed acquisitions of Miromatrix and IVIVA to expand its organ manufacturing capabilities. Management expressed confidence in near-term revenue growth driven by Tyvaso DPI adoption and expansion into new indications.