Liquidia Corp, a pharmaceutical preparations company, has recently announced important financial agreements and events in a press release. The company's stock moved 3.6% on the date of the announcement and is currently trading at $12.69 per share.
In the press release, the company disclosed that they have entered into a fourth amendment to a revenue interest financing agreement with healthcare royalty partners iv, l.p., which will provide an additional $25.0 million in funding. This brings the total investment from healthcare royalty partners iv, l.p. to $67.5 million out of the originally contemplated $100 million. The press release also stated that the company has entered into a common stock purchase agreement with legend aggregator, lp, for the sale of 7,182,532 shares of the company's common stock in a private placement, generating approximately $75.0 million in gross proceeds. The net proceeds from the private placement will be used for various purposes including ongoing commercial development and general corporate purposes.
Additionally, the company entered into a registration rights agreement with the purchaser of the private placement shares, agreeing to file a shelf registration statement with the Securities and Exchange Commission (SEC) within 180 days to register the private placement shares for resale.
Seth Hetherington, CEO of Liquidia Corp, expressed optimism about the recent developments, stating, "These agreements provide us with the necessary capital to advance our commercial and clinical development programs. We believe that this funding will support our efforts to bring innovative pharmaceutical products to the market and create value for our shareholders."
The company's full 8-K submission is available here.
| 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Revenue (k) | $740 | $12,853 | $15,935 | $18,317 |
| Revenue Growth | n/a | 1637.77% | 23.98% | 14.95% |
| Operating Margins | -7989% | -263% | -243% | -292% |
| Net Margins | -8080% | -269% | -257% | -314% |
| Net Income (k) | -$59,763 | -$34,579 | -$41,015 | -$57,585 |
| Net Interest Expense (k) | $858 | $762 | $2,338 | $5,009 |
| Depreciation & Amort. (k) | $2,857 | $1,800 | $1,400 | $1,100 |
| Diluted Shares (k) | 33,888 | 49,678 | 60,959 | 64,858 |
| Free Cash Flow (k) | -$54,897 | -$34,142 | -$29,180 | -$31,760 |
| Capital Expenditures | $752 | $107 | $592 | $1,575 |
| Current Ratio | 5.63 | 8.36 | 11.34 | 6.83 |
