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Liquidia Technologies Inc

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2020 10-Q, filed Nov 6, 2020. Its latest SEC filing is a SC 13G/A from Feb 16, 2021.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Develops PRINT-engineered drug products for patients, including an inhaled dry-powder treprostinil treatment for pulmonary arterial hypertension and an injectable sustained-release anesthetic for post-operative pain; also works with pharmaceutical companies on drug development.

How Did They Make Money?

Liquidia earns fees by licensing its PRINT technology and doing research and development for pharmaceutical partners. Partners pay upfront and additional amounts when development or regulatory goals are met; research work is billed quarterly based on time and materials, and royalties are tied to product sales.

FY2019 revenue

Who Were Their Customers?

Pharmaceutical companies contract with Liquidia for PRINT licenses and research and development services. Liquidia plans to market LIQ861 in the U.S. itself or with a pharmaceutical partner and to use regional pharmaceutical partners outside the U.S.

Did Revenues Turn Into Profits?

No. It lost $47.6M in FY2019.

Operating income, FY2019
−580% of revenue
▲ +34% (Loss) vs FY2018 (−$34.9M, −1288%)
Net income, FY2019
−589% of revenue
▼ −10% (Loss) vs FY2018 (−$53.1M, −1963%)
Free cash flow, FY2019
−621% of revenue
▲ +53% (Loss) vs FY2018 (−$32.7M, −1208%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q3 FY2020, the three months to Sep 30, 2020
Revenue
vs $0 in Q3 FY2019
Net income
▲ +12% (Loss)
vs −$13.4M in Q3 FY2019
  • Nov 18, 2020 Liquidia completed its acquisition of RareGen RareGen joined Liquidia as a wholly owned subsidiary and provides commercialization for rare-disease drugs, including generic Remodulin.
  • Aug 20, 2020 Richard Katz resigned as CFO; Steven Bariahtaris became interim CFO

Grew. Revenue grew 11% in 2 years, from $7.3M in FY2017 to $8.1M in FY2019, about 5% a year.

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