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Liquidia LQDA · USD

Health Care · US listing · 🇺🇸 United States

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47.87

+7.82%

Close of 9 Nov 2026, in USD

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About Liquidia

From its filings with the US Securities and Exchange Commission

SEC filings

Liquidia is based in Morrisville, North Carolina and is incorporated in Delaware. Its shares trade on Nasdaq under the ticker LQDA. The SEC classifies its business as pharmaceutical preparations. In the fiscal year to 31 December 2025, it reported revenue of $158.3m and a net loss of $68.9m. At that date it held total assets of $327.9m and shareholders' equity of $44.7m.

In its own words

We are a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases such as pulmonary arterial hypertension (“PAH”) and pulmonary hypertension associated with interstitial lung disease (“PH-ILD”). We operate through our wholly owned operating subsidiaries, Liquidia Technologies, Inc. and Liquidia PAH, LLC, formerly known as RareGen.

We currently generate revenue through the sale of YUTREPIA (treprostinil) inhalation powder (“YUTREPIA”) and pursuant to a promotion agreement with Sandoz Inc. (“Sandoz”), dated as of August 1, 2018, as amended (the “Promotion Agreement”), under which we share profit derived from the sale of Sandoz’s generic treprostinil injection (“Treprostinil Injection”) in the United States.

We employ a targeted commercial field force calling on healthcare providers involved in the treatment of PAH and PH-ILD in the United States, as well as key stakeholders involved in the distribution and reimbursement of medicines to treat these patients.

YUTREPIA is an inhaled dry powder formulation of treprostinil designed with our proprietary PRINT technology, a particle engineering platform that enables precise production of uniform drug particles, to improve the therapeutic profile of treprostinil by enhancing deep lung delivery while using a convenient, low effort dry-powder inhaler (“DPI”) and by achieving higher dose levels than the labeled doses of other marketed inhaled treprostinil therapies. YUTREPIA was approved by the U.S.

Quoted from its 10-K, filed 5 Mar 2026. Read the filing on SEC.gov ↗

Company facts

Sector
Health Care
Industry
Pharmaceuticals
Listed since
26 Jul 2018
Employees
216
Head office
419 DAVIS DRIVE, SUITE 100, MORRISVILLE, NC, 27560
Incorporated in
DE
Classification
Pharmaceutical Preparations
Filer status
Non-accelerated filer

Leadership

Pay as last reported

  • Dr. Stephen BlochIndependent Chairman of the board$362,509
  • Dr. Roger JeffsChief Executive Officer, Director, since 2020$6.8m
  • Mr. Michael KasetaChief Financial Officer, Chief Operating Officer$3.8m
  • Mr. Russell SchundlerGeneral Counsel, Secretary$2.9m
  • Mr. Jason AdairChief Business Officer
  • Mr. Scott MoomawChief Commercial Officer
  • Mr. Rajeev SaggarChief Medical Officer
  • Mr. Damian DegoaIndependent Director, since 2020$300,009
  • Dr. Joanna HorobinIndependent Director$315,009
  • Mr. David JohnsonIndependent Director$310,009
  • Mr. Arthur KirschIndependent Director$327,509
  • Ms. Katherine Rielly-GauvinIndependent Director$312,509

Environmental, social and governance

Scores out of 100, from our data supplier

ESG
Overall
27
Environment
4
Social
37
Governance
40
Carbon reduction policy
No
Human rights policy
No

SWOT analysis

AI-generated by our data supplier. Not written or checked by our editors.

AI-generated

Strengths

  • Liquidia Corp has several key strengths that contribute to its success in the market:
  • The company excels in developing innovative technologies and solutions, giving it a competitive edge and allowing for differentiation in the market.
  • Liquidia Corp holds a robust portfolio of patents and intellectual property rights, providing protection for its innovations and creating barriers to entry for competitors.
  • The company's expertise in nanotechnology enables it to create advanced materials and delivery systems, opening up opportunities in various industries such as healthcare, electronics, and energy.

Weaknesses

  • Despite its strengths, Liquidia Corp also faces certain weaknesses that could hinder its growth and success:
  • The company's current product offerings are relatively limited, which may restrict its market reach and leave it vulnerable to competitors offering a wider range of solutions.
  • Liquidia Corp invests significant resources in research and development, which can strain its financials and hinder profitability, especially if new product launches do not meet expectations.
  • The company heavily relies on strategic partnerships for commercialization and distribution, making it vulnerable to the actions and decisions of its partners.

Opportunities

  • There are several opportunities in the market that Liquidia Corp can capitalize on:
  • The increasing need for high-performance materials across various industries presents an opportunity for Liquidia Corp to expand its customer base and revenue streams.
  • The healthcare sector is experiencing rapid growth, creating a favorable environment for Liquidia Corp to commercialize its innovative drug delivery systems and medical technologies.
  • The company can explore collaborations with industry leaders or research institutions to accelerate product development, enhance market reach, and strengthen its competitive position.

Threats

  • Several threats pose challenges to Liquidia Corp's growth and market position:
  • The market for advanced materials and nanotechnology is highly competitive, with new entrants and established players vying for market share, which may put pressure on Liquidia Corp's pricing and profitability.
  • As a result of operating in regulated industries such as healthcare, the company faces risks related to compliance with evolving regulations, potentially impacting product development and market access.
  • Unpredictable economic conditions, such as recessions or global financial crises, can impact customer demand, funding availability, and overall business performance for Liquidia Corp.

Sources and methodology

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