Liquidia Corporation has recently released its 10-K report, revealing a focus on developing, manufacturing, and commercializing products for unmet patient needs in the United States. The company's lead product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD), as well as Remodulin, a treprostinil administered through continuous intravenous and subcutaneous infusion. Liquidia Corporation also has a license agreement with Pharmosa Biopharm Inc to develop and commercialize L606, an inhaled sustained-release formulation of Treprostinil for the treatment of PAH and PH-ILD.
In the 10-K report, Liquidia Corporation reported a net loss of $130.4 million for the year ended December 31, 2024, compared to a net loss of $78.5 million in 2023. The company also disclosed an accumulated deficit of $559.5 million as of December 31, 2024. Liquidia Corporation highlighted its focus on research, development, and manufacturing of novel products using its proprietary PRINT® technology, a particle engineering platform, to enable precise production of uniform drug particles designed to improve the safety, efficacy, and performance of a wide range of therapies. The company's lead product candidate, YUTREPIA, received tentative approval from the FDA for the treatment of PAH and PH-ILD, with final approval delayed until after the expiry of a three-year regulatory exclusivity for a similar product.
Liquidia Corporation emphasized its reliance on funding to support the potential commercialization of YUTREPIA and the resources needed to advance its product candidates through clinical trials and seek regulatory approval. The company expressed substantial doubt about its ability to continue as a going concern, highlighting the need for additional funding to maintain compliance with debt covenants and continue operations. Notably, in March 2025, Liquidia Corporation entered into the Sixth Amendment to the HCR Agreement, making an additional $100.0 million available for funding under the second tranche, with additional funding contingent on the commercial success of YUTREPIA.
The company's financials for the year ended December 31, 2024, showed a 20% decrease in revenue compared to 2013, with revenue amounting to $13,996. Liquidia Corporation's costs and expenses increased, with cost of revenue rising by 104%, research and development expenses increasing by 11%, and general and administrative expenses surging by 82%. The company reported a loss from operations of $121.294 million in 2024, representing a 65% increase from the previous year. Furthermore, other income (expense) showed fluctuations, with interest income increasing by 121%, interest expense rising by 99%, and a loss on extinguishment of debt increasing by 85%. Today the company's shares have moved 1.5% to a price of $14.96. For the full picture, make sure to review Liquidia's 10-K report.
