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Liquidia Technologies (LQDA)
:LQDA
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Liquidia Technologies
(NASDAQ:LQDA)
53Neutral
Positive Factors
Clinical Advantages
Yutrepia continues to demonstrate strong potential as a differentiated therapy in PAH and PH-ILD, with clinical data reinforcing its advantages over existing inhaled treprostinil treatments.
Market Opportunity
Yutrepia will launch into a PAH/PH-ILD opportunity that has grown into a ~$2B market, and should continue expanding to $3B-$4B by 2030 as usage in PH-ILD grows.
Product Launch
Liquidia is on track to launch Yutrepia, its inhaled dry-powder formulation of treprostinil, pending the expiration of Tyvaso DPI’s regulatory exclusivity.
Negative Factors
Legal Challenges
The final legal obstacle for Yutrepia is likely the cross-claim UTHR raised in a lawsuit, but there are low odds of success for UTHR on the challenge.
Regulatory Hurdles
The District Court denied Liquidia’s motion for summary judgment regarding the FDA’s decision to grant United Therapeutics’ Tyvaso DPI regulatory exclusivity.
Liquidia Technologies (LQDA) vs. S&P 500 (SPY)
Market Cap
$1.27B
Dividend YieldN/A
Average Volume (3M)872.26K
Price to Earnings (P/E)―
Beta (1Y)1.01
Revenue Growth-19.97%
EPS Growth-37.22%
CountryUS
Employees145
SectorHealthcare
Sector Strength66
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.66
Shares Outstanding85,298,540
10 Day Avg. Volume927,692
30 Day Avg. Volume872,262
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)92.15
Price to Cash Flow (P/CF)-15.50
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$27.63Price Target Upside85.81% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
Liquidia Technologies Business Overview & Revenue Model
Company DescriptionLiquidia Technologies, Inc. is a biopharmaceutical company that focuses on the development and commercialization of innovative therapies using its proprietary PRINT technology. The company is primarily engaged in the healthcare sector, with a particular emphasis on developing therapies for the treatment of pulmonary arterial hypertension (PAH) and other diseases. Its core product, YUTREPIA (treprostinil) inhalation powder, is designed to improve the treatment of PAH by providing a more efficient delivery mechanism for medication.
How the Company Makes MoneyLiquidia Technologies generates revenue through the commercialization of its pharmaceutical products, primarily focusing on the sales of YUTREPIA, which is intended for the treatment of pulmonary arterial hypertension. The company aims to capture market share in the PAH treatment space by offering a differentiated product that leverages its PRINT technology to enhance drug delivery efficiency. Additionally, Liquidia may engage in strategic partnerships, collaborations, or licensing agreements with other pharmaceutical companies to expand its market reach and product offerings, thereby potentially creating additional revenue streams.
Liquidia Technologies Financial Statement Overview
Summary
Liquidia Technologies faces significant financial challenges, including negative profit margins and cash flow issues, despite improvements in equity position and liquidity. The company remains undercapitalized with ongoing operational inefficiencies.Income Statement
Liquidia Technologies has experienced volatile revenue trends, with a notable decline in recent periods. The company faces significant challenges with negative EBIT and EBITDA margins, indicating operational inefficiencies. The net profit margin is also negative, reflecting ongoing losses. These metrics suggest difficulties in achieving profitability and managing costs effectively.35
Negative
Balance Sheet
The balance sheet shows a modest debt-to-equity ratio, but the negative stockholders' equity in past years highlights financial instability. Recent improvements in equity position are positive, but the company remains undercapitalized relative to its liabilities, posing a risk to financial stability. The liquidity position is strong, with substantial cash reserves relative to debt.40
Negative
Cash Flow
Cash flow analysis reveals a challenging environment with negative operating and free cash flows, indicating reliance on external financing. The free cash flow growth rate is negative, reflecting operational cash challenges. Despite this, the company has been successful in raising capital, as evidenced by positive financing cash flow.45
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 15.61M | 17.49M | 15.94M | 12.85M | 739.63K | 8.07M | Gross Profit |
| 9.53M | 14.60M | 13.08M | 9.83M | 501.92K | 7.26M | EBIT |
| -111.62M | -73.38M | -38.77M | -33.80M | -59.09M | -46.82M | EBITDA |
| -107.14M | -70.05M | -34.72M | -27.91M | -55.79M | -43.42M | Net Income Common Stockholders |
| -119.47M | -78.50M | -38.37M | -29.78M | -57.49M | -46.39M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 83.68M | 83.68M | 93.28M | 57.49M | 65.32M | 55.80M | Total Assets |
| 120.43M | 118.33M | 129.20M | 93.73M | 99.53M | 68.84M | Total Debt |
| 3.50M | 3.50M | 24.46M | 16.08M | 17.14M | 24.42M | Net Debt |
| -80.18M | -80.18M | -68.82M | -41.42M | -48.17M | -31.38M | Total Liabilities |
| 73.14M | 71.04M | 38.78M | 28.46M | 28.45M | 33.89M | Stockholders Equity |
| 47.29M | 47.29M | -350.60M | -309.58M | -275.00M | 34.95M |
| Cash Flow | Free Cash Flow | ||||
| -92.46M | -42.85M | -29.18M | -34.14M | -54.90M | -50.13M | Operating Cash Flow |
| -88.59M | -41.56M | -28.59M | -34.04M | -54.14M | -48.28M | Investing Cash Flow |
| -3.87M | -11.29M | -587.00K | -107.22K | 247.91K | -1.85M | Financing Cash Flow |
| 220.60M | 43.25M | 64.96M | 26.32M | 63.42M | 66.39M |
Liquidia Technologies Technical Analysis
Neutral
14.87
Price Trends
14.89
Negative
13.00
Positive
12.11
Positive
Market Momentum
0.07
Negative
48.83
Neutral
74.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LQDA, the sentiment is Neutral. The current price of 14.87 is below the 20-day moving average (MA) of 14.90, below the 50-day MA of 14.89, and above the 200-day MA of 12.11, indicating a neutral trend. The MACD of 0.07 indicates Negative momentum. The RSI at 48.83 is Neutral, neither overbought nor oversold. The STOCH value of 74.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for LQDA.
Liquidia Technologies Risk Analysis
Liquidia Technologies disclosed 61 risk factors in its most recent earnings report. Liquidia Technologies reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Liquidia Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $13.96B | 12.64 | 19.23% | ― | 23.63% | 25.66% | |
66 Neutral | $1.09B | 83.27 | 3.42% | ― | 14.88% | -86.70% | |
58 Neutral | $1.58B | 57.05 | -35.00% | ― | 43.50% | ― | |
53 Neutral | $1.27B | ― | -209.35% | ― | -19.97% | -37.22% | |
52 Neutral | $1.63B | ― | 18.68% | ― | 36.00% | 63.50% | |
49 Neutral | $6.88B | 0.82 | -52.97% | 2.48% | 20.92% | 1.17% | |
46 Neutral | $58.88M | ― | -273.36% | ― | 194.23% | 45.50% |
* Healthcare Sector Average
Performance Comparison
LQDA
Liquidia Technologies
14.87
0.12
0.81%
BCRX
BioCryst
7.83
2.75
54.13%
MNKD
MannKind
5.10
0.57
12.58%
INVA
Innoviva
17.88
2.64
17.32%
UTHR
United Therapeutics
308.02
78.30
34.08%
ADAP
Adaptimmune Therapeutics
0.23
-1.35
-85.44%
Liquidia Technologies Earnings Call Summary
Earnings Call Date: Mar 19, 2025 | % Change Since: 0.88% | Next Earnings Date: May 8, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed sentiment. While there were significant strategic advancements and promising clinical trial results, financial challenges and a decrease in revenue were also highlighted.Highlights
Strategic Imperatives for Growth
Liquidia is focusing on four strategic imperatives including the launch of YUTREPIA for PAH and PH-ILD, advancing its clinical profile, capturing market share, and advancing treatment options with L606.
Positive ASCENT Trial Results
The ASCENT trial demonstrated an improvement in the six-minute walk test by 26.4 meters at week eight, surpassing the 16 meters at week eight observed in the TYVASO Phase III trial.
Strong Partnership with HealthCare Royalty Partners
Liquidia expanded its financing agreement with HealthCare Royalty Partners, securing up to $100 million in additional financing.
Lowlights
Decrease in Revenue
Revenue decreased from $17.5 million in 2023 to $14 million in 2024, primarily due to lower sales quantities driven by limitations on the availability of pumps for treprostinil injections.
Increased Net Loss
Net loss for 2024 increased to $130.4 million from $78.5 million in 2023, driven by increased R&D expenses and legal fees related to YUTREPIA litigation.
Company Guidance
During the 2024 financial results and corporate update call, Liquidia Corporation provided guidance on several key metrics and strategic objectives for 2025. The company anticipates a transformational year, driven by the potential final approval and launch of YUTREPIA for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD) after gaining clinical exclusivity on May 23, 2025. Liquidia aims to secure a strong market position by highlighting YUTREPIA's best-in-class inhaled prostacyclin profile, targeting dose levels three times higher than the therapeutic target of nebulized TYVASO. Additionally, they reported promising results from the ASCENT trial, including a mean improvement of 26.4 meters in the six-minute walk test at week eight. Financially, Liquidia expanded its financing agreement with HealthCare Royalty Partners to potentially provide up to $100 million, supporting the planned launch and ongoing developments, with the goal of reaching profitability without additional capital needs. During 2024, the company reported $14 million in revenue, a decrease from the previous year, and a net loss of $130.4 million. Research and development expenses increased to $47.8 million, driven by investments in the L606 program and YUTREPIA research. General and administrative expenses also rose significantly to $81.6 million, reflecting personnel and legal costs associated with YUTREPIA-related litigation.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.