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AI brief of an SEC Form 8-K · Liquidia (LQDA)

Liquidia Q1 2025 revenue rises to $3.1 million; net loss widens to $38.4 million

Mixed Impact 3 of 5 earnings Written later

Liquidia reported first quarter 2025 results, with revenue of $3.1 million, up from $3.0 million a year earlier, while its net loss widened to $38.4 million, or $0.45 per share, from $30.1 million, or $0.40 per share. The company said it is awaiting FDA action on its YUTREPIA NDA, with a PDUFA goal date of May 24, 2025, and that it can access up to $100 million under its HealthCare Royalty financing agreement.

Key points

  • Revenue was $3.1 million for the quarter ended March 31, 2025, compared with $3.0 million a year earlier, mainly from the Sandoz promotion agreement.
  • Net loss was $38.4 million, or $0.45 per basic and diluted share, versus a net loss of $30.1 million, or $0.40 per share, in the prior-year quarter.
  • General and administrative expenses rose to $30.1 million from $20.2 million, while research and development expenses fell to $7.0 million from $10.1 million.
  • Cash and cash equivalents totaled $169.8 million as of March 31, 2025, compared with $176.5 million as of December 31, 2024.

The filing

CompanyLiquidia (LQDA)
Form8-K, current report
Filed with the SECMay 8, 2025, 6:40 AM ET
Accession number0001104659-25-045850

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:01 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.