Liquidia update does not reflect new patent stay, says BTIG

BTIG says that based on a conversation Liquidia management, today’s update does not reflect a new 30-month stay attached to the ‘327 patent, since Yutrepia’s updated new drug application was filed before the ‘327 patent was added to the FDA Orange Book. The firm currently does not see today’s update materially affecting Yutrepia’s potential launch timing in pulmonary hypertension with interstitial lung disease. The FDA did not request any new clinical data and did not issue a new action date, the analyst tells investors in a research note. BTIG keeps a Buy rating on the shares with a $29 price target. The stock in premarket trading is down 7% to $11.20.