Earnings Releases·Nov 10, 2026, 7:00 AM ET

Liquidia Corporation — Third Quarter 2026 Earnings Summary

Total revenue surged to $225.3 million in Q3 2026 from $54.3 million in Q3 2025, driven by a 331% year-over-year increase in YUTREPIA net product sales to $222.7 million.
The company reported a net loss of $236.3 million ($2.64 per share) compared to $3.5 million in the prior year period, primarily due to $389.7 million in litigation settlement charges, though Non-GAAP adjusted EBITDA reached $140.5 million.
A global settlement with United Therapeutics resolved all pending litigation, requiring net payments of $380.7 million in installments during 2026 and 2027, while the company ceased promoting YUTREPIA for the PH-ILD indication.
Cash and cash equivalents increased to $396.1 million as of September 30, 2026, and the pipeline remains active with L606 studies in PH-ILD and PH-COPD anticipated to initiate or complete between 2027 and 2029.
YUTREPIA achieved a prescriber base of 1,300 with over 70% of referrals including a PAH diagnosis, while Fast Track designation was granted for SSc-RP and the promotion agreement with Sandoz was terminated.