--- title: "Liquidia (LQDA) news: going concern, lawsuit and settlement" url: "https://aibio.space/companies/liquidia/" publisher: "aibio.space (Biotech Investor Relations News)" summary: "LQDA going concern, lawsuit and settlement news: Liquidia files 2024 financials with going-concern doubt, revised debt accounting." --- LQDA Liquidia Corporation NASDAQ · United States # Liquidia (LQDA) news LQDA going concern, lawsuit and settlement news Legal · 2026-10-14 ## [Liquidia settles all patent and trade secret litigation with United Therapeutics](https://aibio.space/news/liquidia-settles-all-patent-trade-secret-litigation-united/) The 8-K lists a net $175.0 million payment to UTC, a further $145.4 million in installments, and a YUTREPIA label change removing PH-ILD. Three parties are also paid to end the RareGen case, and one of them is a related party. ## Latest Liquidia news 1. 2026-10-14 Distress [Liquidia to pay net $175 million in global settlement with United Therapeutics](https://aibio.space/news/liquidia-pay-net-175-million-global-settlement-united-therapeutics/) The deal ends six lawsuits. Liquidia also owes $145.4 million in two installments due in 2027 and $60.3 million to other parties this month. 2. 2025-05-12 Legal [United Therapeutics files patent infringement suit against Liquidia over YUTREPIA](https://aibio.space/news/united-therapeutics-files-patent-infringement-suit-against-liquidia/) The complaint alleges Liquidia infringes U.S. Patent No. 11,357,782 and seeks to bar Liquidia from commercializing YUTREPIA if approved. Liquidia says the claims mirror a patent that the Patent Trial and Appeal Board held invalid. 3. 2025-05-08 Distress [Liquidia files 2024 financials with going-concern doubt, revised debt accounting](https://aibio.space/news/liquidia-files-2024-financials-going-concern-doubt-revised-debt/) The auditor's report cites recurring losses. Management also changed how it accounts for two amendments to a $100.0 million royalty-backed financing. 4. 2025-02-28 Legal [Court denies Liquidia's challenge to FDA exclusivity for Tyvaso DPI](https://aibio.space/news/court-denies-liquidias-challenge-fda-exclusivity-tyvaso-dpi/) A federal judge in Washington denied Liquidia's summary judgment motion on February 27, 2025, upholding the FDA's three-year exclusivity for United Therapeutics' Tyvaso DPI. The exclusivity still ends May 23, 2025, and a related cross claim remains pending. ## Liquidia at a glance - **Ticker**: LQDA - **Listing**: NASDAQ - **Country**: United States - **Cash, Jun 30, 2026**: $284.2 million ### Related companies - [Immuneering](https://aibio.space/companies/immuneering/) NASDAQ: IMRX - [NovaBridge Biosciences](https://aibio.space/companies/novabridge-biosciences/) NASDAQ: NBP - [TherapeuticsMD](https://aibio.space/companies/therapeuticsmd/) NASDAQ: TXMD - [Atossa Therapeutics](https://aibio.space/companies/atossa-therapeutics/) NASDAQ: ATOS - [Lifecore Biomedical](https://aibio.space/companies/lifecore-biomedical/) NASDAQ: LFCR - [Aligos Therapeutics](https://aibio.space/companies/aligos-therapeutics/) NASDAQ: ALGS - [Aprea Therapeutics](https://aibio.space/companies/aprea-therapeutics/) NASDAQ: APRE - [OnKure Therapeutics](https://aibio.space/companies/onkure-therapeutics/) NASDAQ: OKUR ### Also on NASDAQ - [Conexeu Sciences](https://aibio.space/companies/conexeu-sciences/) CNXU - [Belite Bio](https://aibio.space/companies/belite-bio/) BLTE - [Halozyme Therapeutics](https://aibio.space/companies/halozyme-therapeutics/) HALO - [Viatris](https://aibio.space/companies/viatris/) VTRS - [Revolution Medicines](https://aibio.space/companies/revolution-medicines/) RVMD - [Akebia Therapeutics](https://aibio.space/companies/akebia-therapeutics/) AKBA ## What Liquidia does Liquidia is a biopharmaceutical company focused on respiratory and vascular diseases, including pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). Its revenue comes from YUTREPIA (treprostinil) inhalation powder, which the text says the FDA approved in May 2025 for PAH and PH-ILD, with commercialization beginning in June 2025. YUTREPIA is a dry powder made with the company's proprietary PRINT technology and is delivered with a dry-powder inhaler. The company also shares profit under a promotion agreement with Sandoz for Sandoz's generic treprostinil injection in the United States. Its investigational product L606, a liposomal formulation of treprostinil licensed from Pharmosa Biopharm, is given twice daily with a next-generation nebulizer. L606 is in an open-label study for PAH and PH-ILD in the United States, and the company has initiated a worldwide, placebo-controlled pivotal study for PH-ILD. The company also plans clinical studies of YUTREPIA for pulmonary hypertension associated with COPD, idiopathic pulmonary fibrosis, progressive pulmonary fibrosis and Raynaud's phenomenon associated with systemic sclerosis. | Product or program | What it is | Stage | |---|---|---| | YUTREPIA | Inhaled dry powder treprostinil for PAH and PH-ILD | approved | | L606 | Investigational liposomal treprostinil given twice daily by nebulizer | pivotal study | | Treprostinil Injection | Generic treprostinil injection sold in the US under a Sandoz promotion agreement | | Summarised from the company's [10-K filed Mar 5, 2026](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/lqda-20251231x10k.htm). ## Liquidia annual financials | Line | FY2025 | FY2024 | |---|---|---| | Revenue | [$158.3 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | [$14.0 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | | Research and development | [$39.3 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | [$47.8 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | | Net income (loss) | [-$68.9 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | [-$128.3 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | | Cash from operations | [-$35.7 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | [-$93.4 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | | Cash and equivalents | [$190.7 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926094410/) | [$176.5 million](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/) | Latest balance sheet, Jun 30, 2026 (10-Q): cash and equivalents $284.2 million. Figures as reported to the SEC in XBRL; each one links to its filing. Not adjusted, not investment advice. ## Questions about Liquidia Has Liquidia issued a going-concern warning? Our latest story on this, dated May 8, 2025: "Liquidia files 2024 financials with going-concern doubt, revised debt accounting". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/liquidia-files-2024-financials-going-concern-doubt-revised-debt/). Is Liquidia involved in a lawsuit? Our latest story on this, dated Oct 14, 2026: "Liquidia settles all patent and trade secret litigation with United Therapeutics". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/liquidia-settles-all-patent-trade-secret-litigation-united/). Has Liquidia settled a lawsuit? Our latest story on this, dated Oct 14, 2026: "Liquidia settles all patent and trade secret litigation with United Therapeutics". The story links the filing or release it is based on. [Read the story](https://aibio.space/news/liquidia-settles-all-patent-trade-secret-litigation-united/). What is the ticker symbol of Liquidia? Liquidia Corporation trades under the ticker LQDA on NASDAQ. Where is Liquidia listed? Liquidia Corporation is listed on NASDAQ. Our directory also records these other listings: DUS:LT4; FWB:LT4; GETTEX:LT4; HAM:LT4; HAN:LT4; LS:A2JRNS; LSX:A2JRNS; MUN:LT4; SWB:LT4; TRADEGATE:LT4; XETR:LT4. What is the SEC CIK of Liquidia? The SEC Central Index Key (CIK) for Liquidia Corporation is 1819576. Its filings are on SEC EDGAR. How many shares does Liquidia have outstanding? 89,508,891 shares as of 2026-07-29, per the cover page of its 10-Q filed 2026-08-12. Which country or territory is Liquidia listed under? Our directory records Liquidia Corporation under United States. What does Liquidia do? Our directory classifies Liquidia Corporation as: Pharmaceuticals: Major. This is a directory classification, not a description of the pipeline. What is the ISIN of Liquidia? The ISIN recorded for Liquidia Corporation is US53635D2027. Does aibio.space cover Liquidia? aibio.space lists Liquidia Corporation among 2,820 public biotech companies and publishes its news here as stories appear. Where is Liquidia incorporated? SEC records list its state or country of incorporation as DE. What does Liquidia develop? Liquidia is a biopharmaceutical company focused on respiratory and vascular diseases, including pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). Its revenue comes from YUTREPIA (treprostinil) inhalation powder, which the text says the FDA approved in May 2025 for PAH and PH-ILD, with commercialization beginning in June 2025. What is YUTREPIA from Liquidia? YUTREPIA: Inhaled dry powder treprostinil for PAH and PH-ILD Stage: approved. What is L606 from Liquidia? L606: Investigational liposomal treprostinil given twice daily by nebulizer Stage: pivotal study. ## Investor discussion: Liquidia Members talk about Liquidia (LQDA). Reader posts, not aibio.space reporting, and not investment advice. Rules 1. **Securities violations are strictly forbidden.** No market manipulation, no pump-and-dump, no false or misleading statements, and no inside information. 2. **Say whether you hold the stock.** Every post states long, short or no position. 3. **No paid or sponsored posts.** Do not post for anyone who pays or rewards you. 4. **No buy or sell calls and no price targets.** 5. **No accusations of crime or fraud against named people** unless you link a court filing or a regulator's release that makes them. 6. **No personal details and no spam.** No links at all for your first 7 days as a member. Posts that break the rules may be deleted without notice, and the account restricted or closed. See the [terms](https://aibio.space/terms/#discussion) and the [privacy policy](https://aibio.space/privacy/#discussion). ## Capital-markets timeline Financings, listing notices, splits, legal actions and other investor events at Liquidia, newest first. Each line links the filing it comes from. 1. 2026-10-14 Distress Reported the end of a material agreement. SEC Form 8-K (Items 1.01,1.02,7.01,8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1819576/000110465926115672/tm2627557d1_ex99-1.htm) 2. 2026-03-05 Legal Disclosed a shareholder lawsuit, subpoena or other legal matter. SEC Form 10-K. [Source](https://www.sec.gov/Archives/edgar/data/1819576/000110465926023804/lqda-20251231x10k.htm) 3. 2025-05-08 Distress Reported substantial doubt about its ability to continue as a going concern. SEC Form 8-K (Items 8.01,9.01). [Source](https://www.sec.gov/Archives/edgar/data/1819576/000155837025006838/lqda-20241231xex99d1.htm) ## Stock chart Price chart and quote supplied by TradingView, delayed as the exchange requires. It loads only if you choose to show it. Information only, not investment advice. [Open NASDAQ:LQDA on TradingView](https://www.tradingview.com/symbols/NASDAQ-LQDA/). ## SEC filings and registration - **SEC name**: Liquidia Corp - **CIK**: 1819576 - **Industry (SIC)**: Pharmaceutical Preparations (2834) - **US tickers**: LQDA (Nasdaq) - **State or country of incorporation**: DE - **Fiscal year ends**: December 31 - **Filer category**: Non-accelerated filer - **Business address**: 419 DAVIS DRIVE, SUITE 100, MORRISVILLE, NC, 27560 - **Phone**: 919.328.4400 - **Shares outstanding**: 89,508,891 as of 2026-07-29 (10-Q filed 2026-08-12) ### Recent filings (8-K and 6-K are the company's own announcements) - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926115672/tm2627557d1_8k.htm) filed 2026-10-14 - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926112420/tm2626740d1_8k.htm) filed 2026-09-30 - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926104929/tm2624724d1_8k.htm) filed 2026-09-03 - [10-Q](https://www.sec.gov/Archives/edgar/data/1819576/000110465926094410/lqda-20260630x10q.htm) filed 2026-08-12 - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926094411/tm2622888d1_8k.htm) filed 2026-08-12 - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926075177/tm2618171d1_8k.htm) filed 2026-06-17 - [8-K](https://www.sec.gov/Archives/edgar/data/1819576/000110465926071407/tm2617139d1_8k.htm) filed 2026-06-08 - [10-Q](https://www.sec.gov/Archives/edgar/data/1819576/000110465926058252/lqda-20260331x10q.htm) filed 2026-05-11 Source: [SEC EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001819576), retrieved October 23, 2026. Shares outstanding is the cover-page figure from the latest periodic report. The SEC does not publish share prices. ## Listing details Liquidia Corporation is a public biotech or pharmaceutical company listed on NASDAQ under the ticker LQDA, recorded under United States. The directory classifies it as Pharmaceuticals: Major. aibio.space tracks 2,820 public biotech companies worldwide and publishes investor news on them. - **Company**: Liquidia Corporation - **Ticker**: LQDA - **Listing**: NASDAQ - **Country or territory**: United States - **Business scope**: Pharmaceuticals: Major - **ISIN**: US53635D2027 - **Other listed symbols**: DUS:LT4; FWB:LT4; GETTEX:LT4; HAM:LT4; HAN:LT4; LS:A2JRNS; LSX:A2JRNS; MUN:LT4; SWB:LT4; TRADEGATE:LT4; XETR:LT4 - **Last quote in directory**: 2026-10-21 - **Directory source**: [Listing page](https://www.tradingview.com/symbols/NASDAQ-LQDA/) Listing facts come from our company directory, researched on October 22, 2026. 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Cite as: aibio.space, "Liquidia (LQDA) news: going concern, lawsuit and settlement", 2026-10-31, https://aibio.space/companies/liquidia/