Shares of MannKind (NASDAQ: MNKD) were up 15.6% Wednesday morning after the company released first-quarter earnings after the market closed on Tuesday.

The company specializes in treating endocrine and orphan lung diseases, using its signature dry-powder formulations and inhalation devices. Its shares are down a little more than 16% so far this year.

The healthcare company's first-quarter earnings had plenty of good news for investors. MannKind reported revenue of $41 million, up 239% year over year, including $23 million in revenue from Tyvaso DPI, a pulmonary arterial hypertension (PAH) therapy the company collaborated on with United Therapeutics. The $23 million consisted of $12 million in royalties and $11 million in collaboration and services revenue.

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Source Fool.com