Bio CEOs and CFOs Cashing in on Rare Disease New Drug with Hundreds of Billions in Option Gains

On March 20 and 23, 2026, the founder and CEO and the CFO of United Therapeutics Corporation (UTHR) exercised stock options and sold an equivalent number of common shares in the open market, realizing gains of several million dollars (hundreds of billions of Korean won). These transactions were executed under a Rule 10b5-1 trading plan established in 2025. While the CEO’s direct holdings declined slightly to about 40,000 shares, his indirect holdings through family and trusts remain above 650,000 shares, and the CFO continues to hold equity valued at roughly $10 million (around ₩13 billion).

On March 30, the company announced that TETON-1, the Phase 3 clinical trial of its inhaled therapy Tyvaso for idiopathic pulmonary fibrosis, met its primary endpoint, driving the stock price up by double digits. United Therapeutics also said it plans to file a supplemental Biologics License Application with the U.S. Food and Drug Administration this summer to expand the drug’s indications.

On March 9, the company disclosed approval of a share repurchase program of up to $2 billion (approximately ₩2.7 trillion) over one year, along with a $1.5 billion (about ₩2 trillion) accelerated share repurchase agreement.

Headquartered in Maryland and North Carolina, United Therapeutics is a biotech firm focused on therapies for pulmonary arterial hypertension and other lung diseases, as well as organ manufacturing and xenotransplantation technologies to address organ shortages in transplantation.

United Therapeutics was founded in 1996 by Martine Rothblatt to develop a treatment for her daughter’s rare pulmonary disease. Rothblatt remains chairman and CEO and is also known as the founder of satellite radio company SiriusXM.