Liquidia Corp(LQDA) Newsfilter·2025-03-19 10:30Core Insights - Liquidia Corporation reported financial results for the full year ended December 31, 2024, highlighting a strengthened financial position and progress towards the potential approval of YUTREPIA [1][2][8] Financial Performance - Cash and cash equivalents increased to 83.7 million as of December 31, 2023 [7] - Revenue for the year was 17.5 million in 2023, primarily due to lower sales quantities of Treprostinil Injection [9] - Cost of revenue rose to 2.9 million in the previous year, attributed to sales force expansion [10] - Research and development expenses increased by 11% to 81.6 million, mainly due to increased personnel costs and legal fees [12] - Net loss for the year was 1.66 per share, compared to a net loss of 1.21 per share, in 2023 [14] Corporate Developments - Liquidia amended its financing agreement with HCRx to secure up to an additional 25 million received at closing [6] - The FDA granted tentative approval for YUTREPIA for PAH and PH-ILD, with potential final approval expected after the expiration of regulatory exclusivity on May 23, 2025 [3][8] - The ASCENT study for YUTREPIA is nearing enrollment completion, showing promising tolerability and titratability in PH-ILD patients [4] - Clinical studies for L606, a sustained-release formulation of treprostinil, are ongoing, with a pivotal study planned to support approval for both PAH and PH-ILD [5][17] Market Context - YUTREPIA is positioned as a therapeutic alternative for patients with pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD) [2][15] - The prevalence of PAH in the U.S. is estimated at 45,000 patients, while PH-ILD affects over 60,000 patients, indicating a significant market opportunity for Liquidia's products [19][20]