Liquidia Corporation Reports First Quarter 2023 Financial Results and Provides Corporate Update

About this update from Liquidia Corporation

[{"type":"text","content":"MORRISVILLE, N.C., May 04, 2023 (GLOBE NEWSWIRE) -- Liquidia Corporation (NASDAQ: LQDA) (Liquidia or the Company) today reported financial results for the first quarter ended March 31, 2023. The Company will host a webcast at 8:30 a.m. ET to discuss the financial results and provide a corporate update. Roger Jeffs, Liquidia’s Chief Executive Officer, said: “We have heard from the physician community about the increasing demand for inhaled treprostinil to treat both pulmonary arterial hypertension (PAH) and pulmonary hypertension with interstitial lung disease (PH-ILD). With specific regard to PH-ILD, it is clear that the need for inhaled products to treat this previously underdiagnosed and untreated population will significantly surpass that of PAH. Based on conversations with physicians, we believe that patients with PH-ILD, who commonly suffer from lung restriction and impaired respiratory effort, may benefit from an inhaled formulation of treprostinil enabled by PRINT Technology and administered with a low-resistance dry powder inhaler. This enthusiastic feedback from physicians continues to strengthen our commitment to bring YUTREPIA™ (treprostinil) inhalation powder to patients as quickly as possible.” Corporate Updates Secured access to additional capital with revenue interest financing. In January, HealthCare Royalty (HCRx) agreed to provide Liquidia an aggregate of up to $100 million upon certain events. To date, HCRx has funded $32.5 million, of which $22.2 million was used to repay the then existing debt obligations to Silicon Valley Bank (SVB), with excess proceeds of approximately $9.6 million funded to the Company after deduction of transaction costs. Liquidia may receive three additional tranches of funding: $7.5 million to support any acquisition of rights to a clinical stage or commercial stage biopharmaceutical product to diagnose, prevent, or treat pulmonary hypertension; $35 million upon the earlier of regulatory approval of YUTREPIA or a favorable resolution of the ongoing patent litigation with United Therapeutics Corporation (UTC); and $25 million to be drawn upon the mutual agreement of the parties. In exchange for the total investment, HCRx will receive a tiered royalty on net revenue generated by YUTREPIA and other products marketed by Liquidia. The specific tiered royalty rates range between 0.36% to 10...

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