Liquidia Corp
F:LT4
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Liquidia Corp
F:LT4
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US |
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CNH Industrial NV
MIL:1CNHI
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UK |
Liquidia Corp
Liquidia Corp is a biopharmaceutical company focused on inhaled medicines for serious lung and heart-lung diseases. Its lead product is YUTREPIA, a dry-powder version of treprostinil that is used to treat pulmonary hypertension conditions. The company also uses its particle-engineering technology to develop other inhaled drug candidates, with the goal of making medicines that are easier for patients to use than traditional nebulized therapies. The main customers for Liquidia’s products are patients with rare pulmonary vascular diseases, along with the doctors, specialty pharmacies, and insurers involved in getting those treatments to market. Liquidia makes money by selling approved drugs and, over time, may also earn revenue from development partnerships or licensing around its drug-delivery technology. Because these are specialty medicines, the business depends heavily on regulatory approval, reimbursement, and physician adoption rather than broad consumer sales. What makes Liquidia different is its focus on turning existing drugs into more practical inhaled formats instead of inventing entirely new disease areas. The company’s PRINT technology is designed to control the size and shape of drug particles so they can be delivered into the lungs more precisely. That gives Liquidia a niche role in the pharmaceutical value chain as a developer of specialized inhaled therapies for hard-to-treat respiratory conditions.
Liquidia Corp is a biopharmaceutical company focused on inhaled medicines for serious lung and heart-lung diseases. Its lead product is YUTREPIA, a dry-powder version of treprostinil that is used to treat pulmonary hypertension conditions. The company also uses its particle-engineering technology to develop other inhaled drug candidates, with the goal of making medicines that are easier for patients to use than traditional nebulized therapies.
The main customers for Liquidia’s products are patients with rare pulmonary vascular diseases, along with the doctors, specialty pharmacies, and insurers involved in getting those treatments to market. Liquidia makes money by selling approved drugs and, over time, may also earn revenue from development partnerships or licensing around its drug-delivery technology. Because these are specialty medicines, the business depends heavily on regulatory approval, reimbursement, and physician adoption rather than broad consumer sales.
What makes Liquidia different is its focus on turning existing drugs into more practical inhaled formats instead of inventing entirely new disease areas. The company’s PRINT technology is designed to control the size and shape of drug particles so they can be delivered into the lungs more precisely. That gives Liquidia a niche role in the pharmaceutical value chain as a developer of specialized inhaled therapies for hard-to-treat respiratory conditions.
Revenue growth: YUTREPIA net product sales were $129.9 million in Q1 2026, up 44% from $90.1 million in Q4 2025, as the launch continued to gain traction.
Profitability: The company posted its third straight profitable quarter, with net income of about $52.9 million and adjusted EBITDA of about $71.2 million, both sharply higher than Q4.
Commercial momentum: Management said YUTREPIA is now leading growth in inhaled prostacyclins, with roughly 4,500 unique prescriptions, about 3,750 patients started, and about 980 physicians prescribing since launch.
Market share: The company said its share of the inhaled prostacyclin market rose from 10% in Q3 to a little over 16% in Q4 and almost 23% in Q1.
Outlook: Management reiterated confidence in reaching at least $1 billion in net revenue in 2027 and said the business is already self-funded through operating cash flow.
Pipeline: Liquidia highlighted ongoing studies for YUTREPIA and L606, plus plans to expand into broader opportunities such as PH-COPD, IPF, PPF, and Raynaud's phenomenon.
Legal watch: Management said recent Hikma Supreme Court activity could be directionally favorable to its 327 litigation, while stressing that any timing impact would be speculation.
