Earnings summaries and quarterly performance for Liquidia.
Executive leadership at Liquidia.
Roger Jeffs
Detailed
Chief Executive Officer
CEO
DB
Dana Boyle
Detailed
Chief Accounting Officer
JA
Jason Adair
Detailed
Chief Business Officer
MK
Michael Kaseta
Detailed
Chief Financial Officer and Chief Operating Officer
RS
Rajeev Saggar
Detailed
Chief Medical Officer
RS
Russell Schundler
Detailed
General Counsel and Secretary
SM
Scott Moomaw
Detailed
Chief Commercial Officer
Board of directors at Liquidia.
Research analysts who have asked questions during Liquidia earnings calls.
Cory Jubinville
LifeSci Capital
3 questions for LQDA
Also covers: CRNX, TARS
Jason Gerberry
Bank of America Merrill Lynch
3 questions for LQDA
Also covers: ALKS, AMPH, ARWR +21 more
KY
Kambiz Yazdi
Jefferies
3 questions for LQDA
Also covers: ARQT, EYPT, PRAX
Ryan Deschner
Raymond James Financial
3 questions for LQDA
Also covers: APLS, ARDX, ARSP +7 more
SB
Serge Belanger
Needham & Company
3 questions for LQDA
Also covers: AMPH, ARQT, BCRX +12 more
Gregory Harrison
Scotiabank
2 questions for LQDA
Also covers: AGIO, APLS, EYPT +3 more
MK
Matthew Kaplan
Ladenburg Thalmann
2 questions for LQDA
Also covers: ARDX, AXSM, CORT +8 more
CM
Chi Meng Fong
BofA Securities
1 question for LQDA
Also covers: BHC, BYSI, EXEL +2 more
TF
Tiago Fauth
Wells Fargo
1 question for LQDA
Also covers: PTCT, VRNA, WVE
Recent press releases and 8-K filings for LQDA.
Liquidia Reports Strong 2025 Financials and Yutrepia Launch Success, Outlines Future Growth Initiatives
LQDA
Revenue Acceleration/Inflection
Product Launch
New Projects/Investments
- Liquidia reported full-year 2025 net product sales of $148.3 million, achieving profitability in its first quarter of launch and generating over $30 million in positive cash flow. The company ended Q4 2025 with $190.1 million in cash and cash equivalents.
- Yutrepia, FDA approved in May 2025, recorded 2,800 new prescriptions/referrals and 2,300 new patient starts through December 31, 2025, rapidly capturing approximately 25% market share in seven months.
- The company aims for Yutrepia to become a billion-dollar product by 2027 and plans to increase profitability quarter over quarter, investing in sales force expansion and manufacturing capacity without needing additional capital.
- Liquidia is advancing its pipeline with the initiation of the Phase 3 RESPIRE study for L606, an extended-release inhaled treprostinil, and plans new Yutrepia studies targeting broader indications with a cumulative market value approaching $20 billion.
- The company is currently awaiting a ruling on its litigation in Delaware with United Therapeutics, expressing strong confidence in its position.
6 days ago
LQDA Reports Strong 2025 Performance and Outlines Growth Strategy
LQDA
Product Launch
New Projects/Investments
Legal Proceedings
- Liquidia reported a spectacular 2025, achieving profitability in its first quarter of launch and generating $148.3 million in net product sales for the year, with $90.1 million in Q3 2025 reflecting 75% Q-over-Q growth. The company ended Q4 2025 with $190.1 million in cash and cash equivalents.
- The company's product, Yutrepia, FDA approved on May 23, 2025, saw rapid uptake with 2,800 new prescriptions or referrals and 2,300 new patient starts since launch, achieving an 85% conversion rate. 75% of patients are new to prostacyclin therapy, while 25% are transitioning from other therapies.
- Liquidia is expanding its clinical programs for Yutrepia, including studies for transitioning patients from other inhaled and oral therapies, a PAH-sotatercept combination study, and exploring new indications in IPF, PH-COPD, and scleroderma-associated Raynaud's phenomenon.
- The Phase III RESPIRE study for L606, an extended-release liposomal treprostinil inhaled suspension designed for a twice-daily regimen, has been initiated.
- The company aims for Yutrepia to become a billion-dollar product by 2027 and is awaiting a judge's ruling on ongoing litigation with United Therapeutics, expressing confidence in its arguments.
6 days ago
Liquidia Reports Strong YUTREPIA Launch Performance and Financial Position
LQDA
Earnings
Product Launch
Revenue Acceleration/Inflection
- Liquidia Corporation's YUTREPIA (treprostinil) inhalation dry powder received FDA approval on May 23, 2025, for PAH & PH-ILD and was launched to patients within one week.
- The company achieved profitability in the first full quarter after launch in 3Q25 and reported net product sales of $148.3 million for 2025.
- Quarterly net product sales for YUTREPIA were $6.5 million in 2Q25, $51.7 million in 3Q25, and $90.1 million in 4Q25.
- As of December 31, 2025, YUTREPIA had 2,800 new prescriptions and 2,300 new patient starts.
- Liquidia ended 4Q25 with $190.6 million in cash and cash equivalents, adding approximately $30 million in positive cash flow to its balance sheet during the quarter.
6 days ago
Liquidia Reports Strong 2025 Performance and Outlines Future Growth Strategy
LQDA
Earnings
Product Launch
Legal Proceedings
- Liquidia reported $148.3 million in net product sales for 2025, with Q4 2025 sales of $90.1 million, representing 75% Q-over-Q growth from Q3 2025. The company achieved profitability in its first quarter of launch and generated over $30 million in positive cash flow for the year.
- Yutrepia, which was FDA approved on May 23, 2025, recorded 2,800 new prescriptions/referrals and 2,300 new patient starts by December 31, 2025, capturing approximately 25% share of the inhaled treprostinil market in seven months.
- The company is advancing its pipeline with L606, an extended-release liposomal treprostinil, currently in a Phase 3 RESPIRE study. Liquidia also plans new studies for Yutrepia to explore broader indications in IPF, PH-COPD (with a study starting in 2027), and scleroderma-associated Raynaud's phenomenon.
- Liquidia ended Q4 2025 with $190.1 million in cash and cash equivalents and aims to increase profitability quarter over quarter, with a goal for Yutrepia to become over a billion-dollar product in 2027.
- Regarding litigation with United Therapeutics, Liquidia is awaiting a ruling from a trial held in Delaware in June, expressing confidence in their arguments.
6 days ago
Liquidia Reports Preliminary Full-Year 2025 YUTREPIA Net Sales and Commercial Progress
LQDA
Earnings
Product Launch
Revenue Acceleration/Inflection
- Liquidia Corporation announced preliminary, unaudited YUTREPIA net product sales of approximately $90.1 million for the fourth quarter and $148.3 million for full-year 2025.
- The company reported 74% quarter-over-quarter growth in net product sales and generated over $30 million in positive cash flow during Q4 2025.
- As of December 31, 2025, Liquidia held approximately $190.7 million in cash and cash equivalents.
- Since its launch in June 2025, YUTREPIA has received more than 2,800 unique patient prescriptions, with over 2,200 patients starting treatment and approximately 750 prescribers by December 2025.
Jan 9, 2026, 11:30 AM
Liquidia Reports Strong YUTREPIA Launch and Awaits Patent Ruling
LQDA
Product Launch
Legal Proceedings
Revenue Acceleration/Inflection
- Liquidia's YUTREPIA generated $51.7 million in revenue in its first full quarter of launch, with over 1,500 new patient starts and 2,000 referrals by the end of October.
- The company achieved profitability and positive cash flow in September during YUTREPIA's first full quarter, with the drug demonstrating 96% gross margins in Q3.
- Liquidia is awaiting an imminent decision on patent litigation, with management confident in a favorable outcome but prepared for scenarios including a reasonable royalty rate or a skinny label.
- Future development includes exploring YUTREPIA for IPF and PPF and advancing L606, a next-generation liposomal treprostinil, for formal trials in IPF, PPF, and PHCOPD, emphasizing its sustained-release profile and low cough rate.
Nov 18, 2025, 1:00 PM
Liquidia Reports Strong YUTREPIA Launch Performance and Awaits Imminent Legal Decision
LQDA
Product Launch
Legal Proceedings
Revenue Acceleration/Inflection
- Liquidia's YUTREPIA generated $51.7 million in revenue in its first full quarter of launch, with the company achieving profitability and positive cash flow in September.
- The launch has seen strong patient adoption, with over 2,000 referrals and 1,500 new patient starts for YUTREPIA, and October marked the highest referral month.
- YUTREPIA's clinical profile shows significant differentiation, with a discontinuation rate of just over 20% at 24 weeks in the PH-ILD ASCEND study, compared to 70% for Tyvaso DPI at 42 days, due to better tolerability and dose escalation.
- Liquidia is awaiting an "imminent" decision in its lawsuit, expressing confidence in a favorable outcome but preparing for scenarios like a reasonable royalty rate or a skinny label.
- The company is also progressing its next-generation sustained-release treprostinil, L606, which demonstrated a low drug-related cough rate of 14% and high dose achievement, positioning it as a potential market leader.
Nov 18, 2025, 1:00 PM
Liquidia Reports Strong YUTREPIA Launch and Discusses Legal Proceedings and Pipeline Updates
LQDA
Product Launch
Legal Proceedings
New Projects/Investments
- Liquidia reported $51.7 million in revenue for YUTREPIA in its first full quarter of launch, with over 2,000 referrals and 1,500 new patient starts.
- The company achieved operational profitability in its first full quarter of launch and generated positive cash flow in September, with YUTREPIA showing 96% gross margins in Q3.
- Liquidia is awaiting an imminent decision in its ongoing legal proceedings, stating confidence in a win but preparing for scenarios including a reasonable royalty rate or a skinny label (removing PH-ILD indication).
- The company plans to explore new indications for YUTREPIA in IPF and PPF via open-label studies, and intends to use L606 for registrational studies in IPF, PPF, and PHCOPD, highlighting L606's sustained-release profile, low cough rate, and twice-daily administration.
Nov 18, 2025, 1:00 PM
Liquidia Reports Strong Yutrepia Launch Performance and Awaits Patent Decision
LQDA
Product Launch
Legal Proceedings
Revenue Acceleration/Inflection
- Liquidia reported strong initial performance for Yutrepia in its first full quarter of launch (Q3 2025), generating over $51 million in revenue, achieving profitability, and recording over 2,000 prescriptions and 1,500 unique patient starts.
- The company is expanding Yutrepia's market penetration, with 25% of patient starts from transitions (including 40% of PH transitions from oral therapies), and has secured access by removing two of three new-to-market blocks with major commercial payers.
- Liquidia is awaiting a decision from Judge Andrews regarding the 327 patent lawsuit and is advancing L606, a next-generation, twice-daily inhaled treprostinil with demonstrated high tolerability, into a pivotal study.
Nov 10, 2025, 9:15 PM
Liquidia Reports Strong Q3 2025 Yutrepia Launch Results and Provides Updates on L606 and Legal Proceedings
LQDA
Product Launch
Legal Proceedings
Revenue Acceleration/Inflection
- Liquidia reported strong Q3 2025 results for Yutrepia's first full quarter of launch, generating over $51 million in revenue, more than 2,000 prescriptions, and over 1,500 unique patient starts, achieving profitability and positive cash flow in September and October.
- Yutrepia, launched in May 2025, is attracting patients from various sources, including PH, PH-ILD, naive patients, and transitions from other treprostinil products, with 25% of patient starts from transitions and 40% of PH transitions from oral treatments.
- The company is advancing market access, having signed contracts with three major commercial payers and successfully removing two out of three new-to-market blocks, with the third in process.
- Liquidia is developing L606, a next-generation, twice-daily liposomal inhaled treprostinil, which has shown high tolerability in an open-label study and is set to begin a global, placebo-controlled pivotal study (Respire) with approximately 350 patients.
- The company is awaiting Judge Andrews' opinion on the 327 patent following a trial in June and post-trial briefing, maintaining confidence in their position that the patent is invalid or not infringed.
Nov 10, 2025, 9:15 PM
Quarterly earnings call transcripts for Liquidia.
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