UTHR deploys $1.5B buyback as Tyvaso DPI growth slows to 9% amid Yutrepia competition

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q Apr 30, 2025 · ~2 min read

Key Changes

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  Tyvaso DPI quantity growth decelerated sharply to $16.0M (9% YoY) in Q1 2026 from $97.4M (33% YoY) in Q1 2025, while Nebulized Tyvaso sales fell 22% as Liquidia's Yutrepia captured market share following its June 2025 launch.

  MD&A: Tyvaso DPI and Nebulized Tyvaso revenue performance verify on EDGAR →
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  TETON-1 and TETON-2 studies met primary endpoints with 130.1 mL and 95.6 mL FVC improvements (both p<0.0001); company plans IPF sNDA submission by end of summer 2026, but Medicare coverage via DME MAC LCD process could take over a year post-approval.

  MD&A: TETON study results and IPF sNDA timeline verify on EDGAR →
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  ADVANCE OUTCOMES study met primary endpoint with ralinepag reducing clinical worsening risk by 55% (HR 0.45, p<0.0001); NDA submission planned following successful results.

  MD&A: ralinepag ADVANCE OUTCOMES results verify on EDGAR →