Liquidia Corp SEC 10-Q Report

Liquidia Corp, a biopharmaceutical company focused on the development and commercialization of innovative therapies for pulmonary arterial hypertension (PAH) and other related conditions, has released its Form 10-Q report for the third quarter. The report provides a detailed overview of the company's financial performance and key business activities, reflecting both the challenges and progress made in its operational and developmental endeavors.

Financial Highlights

• Revenue: $3.12 million, reflecting a slight increase from the previous year's $2.97 million.
• Cost of Revenue: $1.52 million, resulting in a gross margin that indicates the cost efficiency of operations.
• Loss from Operations: $(35.43) million, showing an increase in operating expenses compared to the previous period.
• Net Loss and Comprehensive Loss: $(38.37) million, compared to $(30.08) million in the prior year, indicating a higher net loss.
• Net Loss Per Common Share, Basic and Diluted: $(0.45), compared to $(0.40) in the previous year, reflecting the impact of increased net loss on a per-share basis.

Business Highlights

• Revenue Segments: The company generates revenue primarily through a promotion agreement with Sandoz Inc., sharing profits from the sale of Sandoz’s generic treprostinil injection in the United States. This agreement accounts for nearly all of the company's revenue.
• Product Development: The company is focused on developing YUTREPIA, an inhaled dry powder formulation of treprostinil for treating pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD).
• Regulatory Progress: YUTREPIA received tentative approval from the FDA, with final approval delayed until May 2025 due to regulatory exclusivity granted to a competing product.
• Research and Development: The company is also developing L606, a liposomal formulation of treprostinil, which is currently in an open-label study in the United States for PAH and PH-ILD.
• Operational Focus: The company employs a targeted sales force to promote Treprostinil Injection and is preparing for the potential launch of YUTREPIA, indicating a strong focus on commercial activities in the cardiopulmonary space.
• Future Outlook: The company anticipates significant expenses and operating losses as it advances its product candidates through clinical trials and seeks regulatory approval, with a focus on the potential commercialization of YUTREPIA.

SEC Filing: Liquidia Corp [ LQDA ] - 10-Q - May. 08, 2025