** Shares of drugmaker scPharmaceuticals SCPH.O rise 13.2% to $5.48 premarket
** Biotech firm MannKind Corp's MNKD.O to buy scPharmaceuticals in a deal valued up to $360 million, companies say
** MNKD's shares fall 2% to $4.03 premarket
** Under the deal, MNKD will pay $5.35 per share upfront in cash, plus offer a non-tradable CVR worth up to $1 per share if certain regulatory and sales milestones are met
** The deal will allow MannKind to expand its portfolio beyond orphan lung diseases
** SCPH brings Furoscix, an FDA-approved on-body infuser to treat adults with chronic heart failure and kidney disease with over $10 billion market opportunity in U.S., according to the companies
** The transaction is expected to close in Q4
** Up to last close, MNKD down 36.1%, while SCPH up 37% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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