Liquidia reports Q3 EPS (30c), consensus (37c)

Reports Q3 revenue $4.4M, consensus $4.19M. Cash and cash equivalents totaled $204.4M as of September 30, compared to $83.6M as of December 31, 2023. Roger Jeffs, Liquidia’s (LQDA) CEO, said: “This quarter we achieved our goal of adding pulmonary hypertension associated with interstitial lung disease to the indication statement for YUTREPIA. While the FDA decision to grant three-year exclusivity to TYVASO DPI, which will expire on May 23, 2025, currently gates our launch, we will exhaust every effort to bring YUTREPIA to market sooner, as evidenced by our litigation against the FDA to contest what we believe to be the improper grant of exclusivity to TYVASO DPI. In the interim, we will use this pre-launch period to further advance knowledge of the clinical profile of YUTREPIA in PH-ILD patients through our ASCENT study, where we hope to show YUTREPIA’s clear advantages related to the tolerability, titratability and durability in this underserved patient population.”