LQDA Stock — Liquidia Corporation: Cash, EV, Pipeline

Share price

$66.88

Market cap

$5,986.4M

Cash

$284.2M

Enterprise value

$5,702.2M

Balance sheet

Cash	$284.2M
Debt	$0.0M
Net cash	$284.2M
Enterprise value	$5,702.2M
Basic shares	89.1M shares
Fully diluted shares	100.7M shares
Fully diluted market cap	$6,732.4M
Cash per share	$3.19

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Aug 12 - Sep 23	L606	Phase 3	Pulmonary Hypertension Due to Lung Disease (Disorder)	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

YUTREPIA

Approved · Active Modality: inhaled dry powder (PRINT particle engineering, Plastiape RS00 DPI)

Aliases treprostinil inhalation powder

Target prostacyclin pathway

Indications

Pulmonary arterial hypertension (PAH) (Approved)
Pulmonary hypertension associated with interstitial lung disease (PH-ILD) (Approved)
Pulmonary hypertension associated with COPD (PH-COPD) (Stage not disclosed)
Idiopathic pulmonary fibrosis (IPF) (Stage not disclosed)
Progressive pulmonary fibrosis (PPF) (Stage not disclosed)
Raynaud's phenomenon associated with systemic sclerosis (SSc-RP) (Stage not disclosed)

Status note FDA approved May 2025 for PAH and PH-ILD; commercialized June 2025 (deep-lung delivery via PRINT-engineered particles, low-effort DPI, higher dose levels than other inhaled treprostinil). Additional indications (PH-COPD, IPF, PPF, SSc-RP) in planning. Ongoing United Therapeutics litigation seeks YUTREPIA's removal from the market.

L606

Phase 3 · Active Modality: liposomal formulation of treprostinil (twice-daily, short-duration nebulizer)

Target prostacyclin pathway

Partnerships Pharmosa Biopharm: exclusive license ($13.5M upfront total; up to $37.75M dev milestones in PAH/PH-ILD; up to $185M NA + $150M ex-NA sales milestones; two tiers of low double-digit royalties). Vectura: exclusive US license for nebulizer device ($2M upfront; up to $12M dev milestones; up to $92.5M sales milestones; mid single-digit royalties)

Indications

Pulmonary hypertension associated with interstitial lung disease (PH-ILD) (Phase 3)
Pulmonary arterial hypertension (PAH) (Phase 3)

Status note In open-label study in the US (PAH and PH-ILD) and a worldwide placebo-controlled pivotal study (PH-ILD). No dated readout stated in this filing.

Per-asset detail extracted from the 10-Q filed 2026-08-12. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	L606
Lead indication	Pulmonary Hypertension Due to Lung Disease (Disorder)
Lead phase	Phase 3
Active trials	6
Collaborator trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07285655	Phase 3	Recruiting	Sponsor	LQDA	—	Pulmonary Hypertension Due to Lung Disease (Disorder)	—
NCT04691154	Phase 3	Active, not recruiting	Sponsor	LQDA	—	Pulmonary Arterial Hypertension; Pulmonary Hypertension Due to Lung Diseases	—
NCT03992755	Phase 3	Active, not recruiting	Sponsor	LQDA	—	Primary Pulmonary Hypertension	—
NCT07748000	Phase 2	Not yet recruiting	Sponsor	LQDA	—	Raynaud's Phenomenon Secondary to Systemic Sclerosis	—
NCT07759804	Not disclosed	Not yet recruiting	Sponsor	LQDA	—	Pulmonary Arterial Hypertension (PAH)	—
NCT06129240	Not disclosed	Recruiting	Sponsor	LQDA	—	Pulmonary Hypertension; Interstitial Lung Disease	—
NCT07561034	Not disclosed	Recruiting	Collaborator	University of Rochester	—	Pulmonary Hypertension; Interstitial Lung Disease	—

Sponsor-matched active trials from ClinicalTrials.gov (6 as sponsor, 1 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 7 active trials for Liquidia Technologies, Inc. on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

LQDA — Liquidia Corporation