Jason Adair, the Chief Business Officer of Liquidia Corp (NASDAQ:LQDA), recently sold 1,146 shares of the company’s common stock, totaling approximately $12,729. The shares were sold at an average price of $11.1077 each on October 14, 2024. This transaction was executed under a Rule 10b5-1 plan, which allows company insiders to set up a trading plan for selling stocks they own, and was specifically intended to cover taxes associated with the settlement of restricted stock units (RSUs).
On October 11, 2024, Adair also acquired 3,906 shares through the vesting of RSUs, though this transaction did not involve any cash exchange. Following these transactions, Adair holds a total of 118,574 shares of Liquidia Corp.
In other recent news, Liquidia Technologies (NASDAQ:) has seen significant developments. The company has maintained its Outperform rating from LifeSci Capital and Buy rating from BTIG, amidst legal developments. The US Supreme Court has invalidated the ‘793 patent held by United Therapeutics (NASDAQ:), a move that clears the path for the commercial launch of Liquidia’s product, Yutrepia, for the treatment of Pulmonary Arterial Hypertension. Analysts at LifeSci Capital estimate Yutrepia’s potential peak sales in this area to be around $400 million.
Another major development is the tentative approval of Yutrepia by the FDA for both Pulmonary Arterial Hypertension and Pulmonary Hypertension in patients with Interstitial Lung Disease, which could boost Liquidia’s market presence significantly. However, the ‘327 patent dispute still remains a concern for the company’s ability to launch Yutrepia in the PH-ILD market.
Despite a decrease in Q2 2024 revenue to $3.7 million from $4.8 million in the same period last year, Liquidia maintains a cash reserve of $133 million and has secured approximately $100 million for cardiopulmonary drug development. Amid these developments, Liquidia is also contending with a renewed legal challenge from United Therapeutics Corporation. These are the recent developments in the company’s journey.
InvestingPro Insights
To provide additional context to Jason Adair’s recent stock transactions, let’s examine some key financial metrics and insights for Liquidia Corp (NASDAQ:LQDA) from InvestingPro.
As of the latest data, Liquidia Corp has a market capitalization of $968.24 million. Despite the recent insider sale, the company’s stock has shown strong performance, with a 1-year price total return of 86.56% and a 1-month return of 13.8%. This positive momentum aligns with one of the InvestingPro Tips, which highlights the company’s “Strong return over the last month.”
However, investors should be aware that Liquidia Corp is currently not profitable, with a negative P/E ratio of -9.39 for the last twelve months as of Q2 2024. This is consistent with another InvestingPro Tip, which states that analysts do not anticipate the company will be profitable this year.
On the balance sheet side, Liquidia Corp appears to have a solid financial position. An InvestingPro Tip indicates that the company’s liquid assets exceed short-term obligations, suggesting good short-term liquidity. Additionally, the company operates with a moderate level of debt, which could provide financial flexibility as it works towards profitability.
It’s worth noting that InvestingPro offers 12 additional tips for Liquidia Corp, providing a more comprehensive analysis for investors interested in deeper insights into the company’s financial health and market position.
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