Liquidia Corporation Reports Strong Q3 2025 Results

Liquidia Technologies ( (LQDA) ) has released its Q3 earnings. Here is a breakdown of the information Liquidia Technologies presented to its investors.

Liquidia Corporation is a biopharmaceutical company focused on developing innovative therapies for respiratory and vascular diseases, utilizing its proprietary PRINT® Technology to create precise drug formulations.

Liquidia Corporation has reported its financial results for the third quarter of 2025, highlighting the successful launch of its inhaled dry-powder formulation, YUTREPIA™, which has achieved significant sales momentum and profitability.

The company recorded $51.7 million in net product sales from YUTREPIA, marking its first full quarter of sales and resulting in an operating income of $1.7 million. Despite a net loss of $3.5 million, this represents a significant improvement from the $31.0 million loss in the same period last year. Liquidia also reported a positive non-GAAP adjusted EBITDA of $10.1 million. The company has seen over 2,000 unique patient prescriptions and 1,500 patient starts, supported by more than 600 prescribers nationwide.

Research and development expenses decreased by 21% to $9.3 million, while selling, general, and administrative expenses nearly doubled to $40.1 million, reflecting the company’s strategic shift towards the commercialization of YUTREPIA. The company is also advancing its L606 program, with plans for a global pivotal study.

Looking ahead, Liquidia Corporation is poised for sustained growth and continued profitability, with plans to expand YUTREPIA’s therapeutic profile and further develop its pipeline, despite ongoing litigation challenges. The management remains optimistic about YUTREPIA’s potential to become a preferred treatment option for pulmonary arterial hypertension and related conditions.