Summary of Liquidia Corp (NasdaqCM:LQDA) 2025 R&D Day Company Overview - **Company**: Liquidia Corp - **Event**: 2025 R&D Day held on October 28, 2025 - **Focus**: Innovative therapies for respiratory and vascular diseases, particularly pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PHILD) [1][2] Key Industry Insights - **Market Need**: There is a significant unmet need for effective therapies in the treatment of PAH and PHILD, with many patients underdiagnosed and undertreated [12][14] - **Therapeutic Approach**: The ideal inhaled treprostinil delivery system should optimize five key elements: targeted lung delivery, portability, tolerability, titratability, and simple dosing regimen [3][4] Core Product Insights - **Current Product**: Eutrebia, an inhaled treprostinil option, addresses four of the five ideal elements, with a dosing frequency of four times a day [4][5] - **Next Generation Product**: L-six zero six, a liposomal sustained release formulation, aims to reduce the dosing regimen to twice daily while maintaining efficacy and tolerability [5][6][89] Clinical Data and Findings - **ASCENT Study**: An open-label study assessing the safety and tolerability of Eutrebia in patients with PHILD, showing promising results with a 27.8% discontinuation rate, comparable to other inhaled therapies [52][53] - **Dosing Strategy**: The study allowed for rapid titration to higher doses, achieving significant improvements in six-minute walk distance, surpassing the clinically relevant threshold of 30 meters [72][79] - **Cough Tolerability**: Cough was the most common adverse event but was predominantly mild, with no discontinuations related to the treatment [67][70] Expert Perspectives - **Clinical Experience**: Experts emphasized the importance of early diagnosis and treatment of pulmonary hypertension, particularly in patients with interstitial lung disease, to improve survival outcomes [18][20] - **Future Directions**: The potential for L-six zero six to provide continuous therapeutic exposure and improve patient outcomes was highlighted, with ongoing studies expected to validate its efficacy [88][90] Additional Considerations - **Background Therapy**: Many patients in the ASCENT study were on background therapies, including PD-5 inhibitors, which may have influenced outcomes [58][59] - **Real-World Application**: The findings from the ASCENT study reflect real-world clinical practice, indicating a shift towards earlier initiation of prostacyclin therapy due to improved tolerability and efficacy [36][79] This summary encapsulates the key points discussed during the Liquidia Corp R&D Day, focusing on the company's innovative approaches to treating pulmonary hypertension and the promising data from their clinical studies.