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Sep 30, 2024
Liquidia Q3 2024 Earnings Report
Liquidia reported third quarter 2024 financial results and provided a corporate update.
Key Takeaways
Liquidia Corporation reported revenue of $4.4 million and a net loss of $23.2 million for the third quarter ended September 30, 2024. The company is awaiting final FDA approval for YUTREPIA, which is currently delayed until after the expiration of TYVASO DPI® exclusivity in May 2025 and is actively challenging this exclusivity.
Received tentative FDA approval for YUTREPIA for PAH and PH-ILD.
Commenced litigation to challenge regulatory exclusivity blocking final approval of YUTREPIA.
Expanded collaboration with Pharmosa Biopharm to develop L606 (liposomal treprostinil) inhalation suspension.
Strengthened financial position by approximately $100 million through equity raise and advance from financing agreement.
Liquidia
Liquidia
Forward Guidance
Liquidia is focused on obtaining final FDA approval for YUTREPIA and advancing its pipeline of therapies for rare cardiopulmonary diseases.
Positive Outlook
- Tentative FDA approval for YUTREPIA.
- Favorable decisions related to three patents originally asserted against Liquidia.
- Expanded collaboration with Pharmosa Biopharm for L606 development.
- Strengthened financial position with equity raise and financing agreement.
- Advancing knowledge of YUTREPIA’s clinical profile through the ASCENT study.
Challenges Ahead
- FDA decision to grant three-year exclusivity to TYVASO DPI® delays YUTREPIA launch.
- Litigation against the FDA to contest the exclusivity grant.
- Ongoing patent litigation with United Therapeutics regarding U.S. Patent No. 11,826,327.
- Increased research and development expenses.
- Increased general and administrative expenses.