$LQDA
Liquidia Corp Stock $lqda

$lqda Overview Financials Valuation SEC Filings Company Website

2020 Q4 Form 10-K Financial Statement

#000143774921007174 Filed on March 25, 2021

Income Statement

Concept	2020 Q4	2020	2019 Q4
Revenue	$740.0K	$739.6K	$0.00
YoY Change		-90.84%	-100.0%
Cost Of Revenue	$240.0K	$237.7K	$0.00
YoY Change		-70.65%
Gross Profit	$500.0K	$501.9K	$0.00
YoY Change		-93.09%	-100.0%
Gross Profit Margin	67.57%	67.86%
Selling, General & Admin	$6.370M	$17.41M	$5.790M
YoY Change	10.02%	28.01%	148.5%
% of Gross Profit	1274.0%	3468.71%
Research & Development	$5.250M	$32.22M	$8.160M
YoY Change	-35.66%	-20.42%	2.0%
% of Gross Profit	1050.0%	6419.88%
Depreciation & Amortization	$950.0K	$3.130M	$520.0K
YoY Change	82.69%	21.88%	30.0%
% of Gross Profit	190.0%	623.53%
Operating Expenses	$11.61M	$32.22M	$13.95M
YoY Change	-16.77%	-20.42%	35.04%
Operating Profit	-$11.11M	-$59.09M	-$13.95M
YoY Change	-20.36%	26.2%	42.93%
Interest Expense	-$170.0K	$858.0K	-$540.0K
YoY Change	-68.52%	-37.54%	800.0%
% of Operating Profit
Other Income/Expense, Net		-$673.6K
YoY Change		-11.35%
Pretax Income	-$16.09M	-$59.76M	-$14.49M
YoY Change	11.04%	25.6%	49.54%
Income Tax		$0.00
% Of Pretax Income
Net Earnings	-$16.09M	-$59.76M	-$14.49M
YoY Change	11.04%	25.6%	49.54%
Net Earnings / Revenue	-2174.32%	-8080.11%
Basic Earnings Per Share		-$1.76
Diluted Earnings Per Share	-$394.2K	-$1.76	-$711.7K
COMMON SHARES
Basic Shares Outstanding		33.89M
Diluted Shares Outstanding		33.89M

Balance Sheet

Concept	2020 Q4	2020	2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$65.32M	$65.32M	$55.80M
YoY Change	17.06%	17.06%	41.16%
Cash & Equivalents	$65.30M		$55.80M
Short-Term Investments
Other Short-Term Assets	$750.0K	$750.0K	$590.0K
YoY Change	27.12%	27.12%	168.18%
Inventory
Prepaid Expenses
Receivables	$0.00		$0.00
Other Receivables			$0.00
Total Short-Term Assets	$66.07M	$66.07M	$56.39M
YoY Change	17.17%	17.17%	40.86%
LONG-TERM ASSETS
Property, Plant & Equipment	$6.806M	$9.450M	$9.254M
YoY Change	-26.46%	-21.77%	13.82%
Goodwill	$3.903M		$0.00
YoY Change
Intangibles	$5.535M		$0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets	$14.57M	$14.57M	$380.0K
YoY Change	3734.21%	3734.21%	-69.84%
Total Long-Term Assets	$33.46M	$33.46M	$12.46M
YoY Change	168.66%	168.76%	32.65%
TOTAL ASSETS
Total Short-Term Assets	$66.07M	$66.07M	$56.39M
Total Long-Term Assets	$33.46M	$33.46M	$12.46M
Total Assets	$99.53M	$99.53M	$68.84M
YoY Change	44.58%	44.58%	39.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$3.734M	$3.730M	$3.498M
YoY Change	6.75%	6.57%	7.96%
Accrued Expenses	$5.310M	$5.310M	$6.550M
YoY Change	-18.93%	-18.93%	64.99%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$0.00	$920.0K	$5.586M
YoY Change	-100.0%	-86.53%	625.41%
Total Short-Term Liabilities	$11.74M	$11.74M	$16.87M
YoY Change	-30.44%	-30.41%	104.54%
LONG-TERM LIABILITIES
Long-Term Debt	$10.29M	$10.55M	$10.29M
YoY Change	0.0%	-7.05%	-14.23%
Other Long-Term Liabilities	$6.160M	$6.160M	$5.670M
YoY Change	8.64%	8.64%	-45.9%
Total Long-Term Liabilities	$10.29M	$16.71M	$10.29M
YoY Change	0.0%	-1.82%	-54.21%
TOTAL LIABILITIES
Total Short-Term Liabilities	$11.74M	$11.74M	$16.87M
Total Long-Term Liabilities	$10.29M	$16.71M	$10.29M
Total Liabilities	$28.45M	$28.45M	$33.89M
YoY Change	-16.08%	-16.05%	10.3%
SHAREHOLDERS EQUITY
Retained Earnings	-$275.0M		-$215.2M
YoY Change	27.77%
Common Stock	$43.34K		$28.23K
YoY Change	53.51%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$71.09M	$71.09M	$34.95M
YoY Change
Total Liabilities & Shareholders Equity	$99.53M	$99.53M	$68.84M
YoY Change	44.58%	44.58%	39.3%

Cashflow Statement

Concept	2020 Q4	2020	2019 Q4
OPERATING ACTIVITIES
Net Income	-$16.09M	-$59.76M	-$14.49M
YoY Change	11.04%	25.6%	49.54%
Depreciation, Depletion And Amortization	$950.0K	$3.130M	$520.0K
YoY Change	82.69%	21.88%	30.0%
Cash From Operating Activities	-$14.08M	-$54.14M	-$14.06M
YoY Change	0.14%	12.14%	68.79%
INVESTING ACTIVITIES
Capital Expenditures	-$40.00K	$752.1K	-$130.0K
YoY Change	-69.23%	-59.35%	30.0%
Acquisitions
YoY Change
Other Investing Activities	$1.000M	$1.000M
YoY Change
Cash From Investing Activities	$960.0K	$247.9K	-$130.0K
YoY Change	-838.46%	-113.4%	30.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net		$5.647M
YoY Change
Cash From Financing Activities	-1.100M	63.42M	30.68M
YoY Change	-103.59%	-4.48%	6717.78%
NET CHANGE
Cash From Operating Activities	-14.08M	-54.14M	-14.06M
Cash From Investing Activities	960.0K	247.9K	-130.0K
Cash From Financing Activities	-1.100M	63.42M	30.68M
Net Change In Cash	-14.22M	9.520M	16.49M
YoY Change	-186.23%	-41.46%	-306.64%
FREE CASH FLOW
Cash From Operating Activities	-$14.08M	-$54.14M	-$14.06M
Capital Expenditures	-$40.00K	$752.1K	-$130.0K
Free Cash Flow	-$14.04M	-$54.90M	-$13.93M
YoY Change	0.79%	9.5%	69.26%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2020	dei	Entity Central Index Key EntityCentralIndexKey	0001819576
CY2020	dei	Entity Registrant Name EntityRegistrantName	Liquidia Corporation
CY2021Q1	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	43336277
CY2020Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2019Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies		USD
CY2020Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2019Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2020Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2020Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2019Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2019Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2020Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2019Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	80000000
CY2019Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	40000000
CY2020Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	43336277
CY2020Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	43336277
CY2019Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	28231267
CY2019Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	28231267
CY2020Q4	lqda	Number Of Products Under Development NumberOfProductsUnderDevelopment	2	pure
CY2019Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	USD
CY2020Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	USD
CY2019Q4	us-gaap	Allowance For Doubtful Accounts Receivable Current AllowanceForDoubtfulAccountsReceivableCurrent	0	USD
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2019	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2020Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	USD
CY2019Q4	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	USD
CY2020	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Expense UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0	USD
CY2019	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Expense UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense	0	USD
CY2020Q4	us-gaap	Cash Cash	65316481	USD
CY2019Q4	us-gaap	Cash Cash	55796378	USD
CY2020Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	752447	USD
CY2019Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	590251	USD
CY2020Q4	us-gaap	Assets Current AssetsCurrent	66068928	USD
CY2019Q4	us-gaap	Assets Current AssetsCurrent	56386629	USD
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6805570	USD
CY2019Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9253965	USD
CY2020Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2649328	USD
CY2019Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2823430	USD
CY2020Q4	us-gaap	Business Combination Indemnification Assets Amount As Of Acquisition Date BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate	1387275	USD
CY2019Q4	us-gaap	Business Combination Indemnification Assets Amount As Of Acquisition Date BusinessCombinationIndemnificationAssetsAmountAsOfAcquisitionDate	0	USD
CY2020Q4	lqda	Business Combination Contract Acquisition Costs Net BusinessCombinationContractAcquisitionCostsNet	12792491	USD
CY2019Q4	lqda	Business Combination Contract Acquisition Costs Net BusinessCombinationContractAcquisitionCostsNet	0	USD
CY2020Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	5534843	USD
CY2019Q4	us-gaap	Intangible Assets Net Excluding Goodwill IntangibleAssetsNetExcludingGoodwill	0	USD
CY2020Q4	us-gaap	Goodwill Goodwill	3903282	USD
CY2019Q4	us-gaap	Goodwill Goodwill	0	USD
CY2020Q4	us-gaap	Prepaid Expense And Other Assets Noncurrent PrepaidExpenseAndOtherAssetsNoncurrent	390043	USD
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CY2020Q4	us-gaap	Assets Assets	99531760	USD
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CY2019Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	3498043	USD
CY2020Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	3259515	USD
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CY2020Q4	lqda	Accrued Stock Offering Exepnses Current AccruedStockOfferingExepnsesCurrent	0	USD
CY2019Q4	lqda	Accrued Stock Offering Exepnses Current AccruedStockOfferingExepnsesCurrent	1289413	USD
CY2020Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1386880	USD
CY2019Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1525919	USD
CY2020Q4	us-gaap	Customer Refund Liability Current CustomerRefundLiabilityCurrent	1768864	USD
CY2019Q4	us-gaap	Customer Refund Liability Current CustomerRefundLiabilityCurrent	0	USD
CY2020Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	664670	USD
CY2019Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	566390	USD
CY2020Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	923218	USD
CY2019Q4	us-gaap	Finance Lease Liability Current FinanceLeaseLiabilityCurrent	1244229	USD
CY2020Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	0	USD
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CY2019Q4	us-gaap	Liabilities Current LiabilitiesCurrent	16874318	USD
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CY2019Q4	us-gaap	Litigation Reserve Noncurrent LitigationReserveNoncurrent	0	USD
CY2020Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	5006301	USD
CY2019Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	5670971	USD
CY2020Q4	us-gaap	Finance Lease Liability Noncurrent FinanceLeaseLiabilityNoncurrent	255402	USD
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CY2019Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	10292484	USD
CY2020Q4	us-gaap	Liabilities Liabilities	28445922	USD
CY2019Q4	us-gaap	Liabilities Liabilities	33894520	USD
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CY2019Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
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CY2019Q4	us-gaap	Common Stock Value CommonStockValue	28231	USD
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CY2020	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	33888434
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CY2020	lqda	Noncash Portion Of Lease Expense NoncashPortionOfLeaseExpense	174102	USD
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CY2020	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	61424	USD
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CY2020	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	42312	USD
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CY2020	us-gaap	Cash Acquired From Acquisition CashAcquiredFromAcquisition	1000000	USD
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CY2020	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	752086	USD
CY2019	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1850099	USD
CY2020	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	247914	USD
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CY2020	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	1122356	USD
CY2019	us-gaap	Repayments Of Long Term Capital Lease Obligations RepaymentsOfLongTermCapitalLeaseObligations	998687	USD
CY2020	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	-0	USD
CY2019	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	34649	USD
CY2020	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	USD
CY2019	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	5000000	USD
CY2020	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	5647060	USD
CY2019	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	-0	USD
CY2020	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	71225398	USD
CY2019	us-gaap	Proceeds From Issuance Initial Public Offering ProceedsFromIssuanceInitialPublicOffering	63039490	USD
CY2020	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	1634467	USD
CY2019	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	754028	USD
CY2020	us-gaap	Loss Contingency Receivable Proceeds LossContingencyReceivableProceeds	507849	USD
CY2019	us-gaap	Loss Contingency Receivable Proceeds LossContingencyReceivableProceeds	0	USD
CY2020	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	87332	USD
CY2019	us-gaap	Proceeds From Stock Plans ProceedsFromStockPlans	141327	USD
CY2020	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	0	USD
CY2019	us-gaap	Proceeds From Warrant Exercises ProceedsFromWarrantExercises	713	USD
CY2020	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	63416696	USD
CY2019	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	66394166	USD
CY2020	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	9520103	USD
CY2019	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	16261393	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	55796378	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	39534985	USD
CY2020Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	65316481	USD
CY2019Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations	55796378	USD
CY2020	us-gaap	Interest Paid Net InterestPaidNet	820889	USD
CY2019	us-gaap	Interest Paid Net InterestPaidNet	887038	USD
CY2020	lqda	Operating Lease Liabilities Cash Paid OperatingLeaseLiabilitiesCashPaid	1172759	USD
CY2019	lqda	Operating Lease Liabilities Cash Paid OperatingLeaseLiabilitiesCashPaid	1081582	USD
CY2020	lqda	Rightofuse Asset Obtained In Exchange For Operating And Financing Lease Liability RightofuseAssetObtainedInExchangeForOperatingAndFinancingLeaseLiability	0	USD
CY2019	lqda	Rightofuse Asset Obtained In Exchange For Operating And Financing Lease Liability RightofuseAssetObtainedInExchangeForOperatingAndFinancingLeaseLiability	834693	USD
CY2020	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	412096	USD
CY2019	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	184424	USD
CY2020	us-gaap	Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1 NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1	19843331	USD
CY2019	us-gaap	Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1 NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1	0	USD
CY2020	lqda	Accrued Tenant Improvements And Receivable From Landlord AccruedTenantImprovementsAndReceivableFromLandlord	0	USD
CY2019	lqda	Accrued Tenant Improvements And Receivable From Landlord AccruedTenantImprovementsAndReceivableFromLandlord	936104	USD
CY2020	lqda	Deferred Offering Costs Incurred But Not Paid DeferredOfferingCostsIncurredButNotPaid	0	USD
CY2019	lqda	Deferred Offering Costs Incurred But Not Paid DeferredOfferingCostsIncurredButNotPaid	1358378	USD
CY2020	us-gaap	Nature Of Operations NatureOfOperations	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><em style="font: inherit;">1.</em> Business</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Liquidia Corporation (“Liquidia” or the “Company”) is a biopharmaceutical company focused on the development and commercialization of products that address unmet patient needs, with current focus directed towards the treatment of pulmonary arterial hypertension (“PAH”). Liquidia Corporation operates through the company’s subsidiaries, Liquidia Technologies, Inc. (“Liquidia Technologies”) and Liquidia PAH, LLC (“Liquidia PAH”), formerly known as RareGen, LLC (“RareGen”).</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company conducts research, development and manufacturing of novel products by applying its proprietary PRINT® technology, a particle engineering platform, to enable precise production of uniform drug particles designed to improve the safety, efficacy and performance of a wide range of therapies. The Company is currently developing <span style="-sec-ix-hidden:c71386893">two</span> product candidates for which it holds worldwide commercial rights: <em style="font: inherit;">LIQ861</em> to treat PAH, and <em style="font: inherit;">LIQ865</em> to treat post-operative pain.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company’s most advanced product, <em style="font: inherit;">LIQ861,</em> is an inhaled dry powder formulation of treprostinil designed to improve the therapeutic profile of treprostinil by enhancing deep lung delivery and achieving higher dose levels than current inhaled therapies. The Company submitted the New Drug Application (“NDA”) for <em style="font: inherit;">LIQ861</em> in <em style="font: inherit;"> January 2020 </em>and is actively preparing its reply to the Complete Response Letter (“CRL”) issued by the Food and Drug Administration (“FDA”) in <em style="font: inherit;"> November 2020.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company’s <em style="font: inherit;">second</em> product candidate, <em style="font: inherit;">LIQ865,</em> is designed to deliver sustained release of bupivacaine, a non-opioid anesthetic, to treat local post-operative pain for <em style="font: inherit;">three</em> to <em style="font: inherit;">five</em> days through a single administration. The Company has completed <em style="font: inherit;">two</em> Phase <em style="font: inherit;">1</em> clinical trials and additional toxicology studies to help enable continued clinical development in Phase <em style="font: inherit;">2</em> studies of <em style="font: inherit;">LIQ865.</em></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The Company generates revenue pursuant to the promotion agreement between Liquidia PAH and Sandoz Inc. (“Sandoz”), dated as of <em style="font: inherit;"> August 1, 2018, </em>as amended (the “Promotion Agreement”), sharing profit derived from the sale of the <em style="font: inherit;">first</em>-to-file fully substitutable generic treprostinil injection (“Treprostinil Injection”) in the United States. Liquidia PAH has the exclusive rights to conduct commercial activities to encourage the appropriate use of Treprostinil Injection. The Company employs a small, targeted sales force calling on physicians involved in the treatment of PAH in the United States, as well as key stakeholders involved in the distribution and reimbursement of Treprostinil Injection. Strategically, the Company believes that its commercial presence in the field will enable an efficient launch of <em style="font: inherit;">LIQ861</em> upon approval, leveraging existing relationships and further validating our reputation as a company committed to supporting PAH patients.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">The Company is subject to risks and uncertainties common to early-stage companies in the biotechnology industry, including, but <em style="font: inherit;">not</em> limited to, development by competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, compliance with government regulations, the impact of the COVID-<em style="font: inherit;">19</em> coronavirus, and the ability to secure additional capital to fund operations. The Company expects to incur significant expenses and operating losses for the foreseeable future as it advances product candidates through clinical trials, seeks regulatory approval and pursues commercialization of any approved product candidates. In addition, if the Company obtains marketing approval for any of its product candidates, it would incur significant commercialization expenses related to product manufacturing, marketing, sales and distribution. These efforts require significant amounts of additional capital, adequate personnel and infrastructure, and extensive compliance-reporting capabilities. Even if the Company's development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. The Company will seek additional funding through public or private financings, debt financing or collaboration. If the Company is unable to obtain funding, the Company could be required to delay, reduce, or eliminate research and development programs, product portfolio expansion, or future commercialization efforts, which could adversely affect its business prospects.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt 0pt 0pt 8pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; margin: 0pt;">In accordance with Accounting Standards Update (“ASU”) <em style="font: inherit;">2014</em>-<em style="font: inherit;">15,</em> <i>Disclosure of Uncertainties about an Entity</i>’<i>s Ability to Continue as a Going Concern (Subtopic <em style="font: inherit;">205</em>-<em style="font: inherit;">40</em>)</i>, the Company has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within <em style="font: inherit;">one</em> year after the date that the consolidated financial statements are issued. We have financed our growth and operations through a combination of funds generated from revenues, the issuance of convertible preferred stock and common stock, finance leases, bank borrowings, bank borrowings with warrants and the issuance of convertible notes and warrants. Since inception, the Company has incurred recurring losses, including net losses of $59.8 million for the year ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2020</em> and the Company had an accumulated deficit of $275.0 million as of <em style="font: inherit;"> December 31, 2020. </em>The Company expects to continue to generate operating losses for the foreseeable future. As of <em style="font: inherit;"> March 25, 2021, </em>the issuance date of the consolidated financial statements for the year ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2020,</em> the Company expects that its cash will be sufficient to fund its operating expenses and capital expenditure requirements for at least <em style="font: inherit;">12</em> months from the issuance date of the annual consolidated financial statements. The future viability of the Company is dependent on its ability to raise additional capital to finance its future operations. Accordingly, the accompanying consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets, and the satisfaction of liabilities and commitments in the ordinary course of business.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Recent Developments</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><i>Acquisition of RareGen, LLC (now Liquidia PAH, LLC)</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">On <em style="font: inherit;"> November 18, 2020 (</em>the “Closing Date”), the Company completed the previously announced acquisition contemplated by the Agreement and Plan of Merger, dated as of <em style="font: inherit;"> June 29, 2020, </em>as amended by a Limited Waiver and Modification to the Merger Agreement, dated as of <em style="font: inherit;"> August 3, 2020 (</em>the “Merger Agreement”), by and among Liquidia Technologies, the Company, RareGen, Gemini Merger Sub I, Inc., a Delaware corporation (“Liquidia Merger Sub”), Gemini Merger Sub II, LLC, a Delaware limited liability company (“RareGen Merger Sub”), and PBM RG Holdings, LLC, a Delaware limited liability company (“PBM”). Pursuant to the Merger Agreement, Liquidia Merger Sub, a former wholly owned subsidiary of the Company, merged with and into Liquidia Technologies (the “Liquidia Technologies Merger”), and RareGen Merger Sub, a former wholly owned subsidiary of the Company, merged with and into RareGen (the “RareGen Merger” and, together with the Liquidia Technologies Merger, the “Merger Transaction”). Upon consummation of the Merger Transaction, the separate corporate existences of Liquidia Merger Sub and RareGen Merger Sub ceased and Liquidia Technologies and RareGen (now Liquidia PAH) continue as wholly owned subsidiaries of Liquidia Corporation.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">On the Closing Date, an aggregate of 5,550,000 shares of common stock, <em style="font: inherit;">$0.001</em> par value per share (“Liquidia Corporation Common Stock”), were issued to RareGen members in exchange for 10,000 RareGen common units, representing all of the issued and outstanding RareGen equity. Additionally, on the Closing Date, an aggregate of 616,666 shares of Liquidia Corporation Common Stock were withheld from RareGen members to secure the indemnification obligations of RareGen members. Additionally, RareGen members received a pro rata portion of the RareGen cash at closing in excess of $1 million. RareGen members are also entitled to receive a pro rata portion of up to an additional 2,708,333 shares of Liquidia Corporation Common Stock in the aggregate in <em style="font: inherit;">2022,</em> based on the amount of <em style="font: inherit;">2021</em> net sales of the generic treprostinil product (“Net Sales Earnout Shares”) owned by Sandoz, which RareGen markets pursuant to the Promotion Agreement. The fair value of the purchase consideration or the purchase price was approximately $20.8 million. See Note <em style="font: inherit;">3</em> below for further details.</p>
CY2020	us-gaap	Net Income Loss NetIncomeLoss	-59800000	USD
CY2020Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-275000000.0	USD
CY2020	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, at the date of the financial statements, as well as the reported amounts of revenues and expenses during the period. These estimates are based on historical experience and various other assumptions believed reasonable under the circumstances. The Company evaluates its estimates on an ongoing basis and makes changes to the estimates and related disclosures as experience develops or new information becomes known. Actual results will most likely differ from those estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2020	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Revision of Previously Issued Financial Statements</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">During the <em style="font: inherit;">three</em> months ended <em style="font: inherit;"> June 30, 2020, </em>the Company identified an error in the matter in which it calculated diluted weighted common shares outstanding and diluted net loss per common share. While the Company has included common stock warrants whose exercise price is de minimis in the calculation of basic weighted average common shares outstanding and basic net loss per common share, these warrants were inappropriately excluded from the calculation of diluted weighted common shares outstanding and diluted net loss per common share, which resulted in an error in those previously reported amounts for the year ended <em style="font: inherit;"> December 31, 2019. </em>The Company has evaluated this error and determined that this presentation error was <em style="font: inherit;">not</em> material to any prior annual or interim periods. However, the Company is revising the previously presented <em style="font: inherit;"> December 31, 2019 </em>diluted weighted common shares outstanding and diluted net loss per common share as follows:</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" class="finTable" style="margin-right: 15%; width: 85%; font-size: 10pt; font-family: Times New Roman; text-indent: 0px;"><tbody><tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="6" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">Year Ended</p> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td></tr> <tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="6" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">December 31, 2019</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr> <tr style="vertical-align: bottom;"><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">As Presented</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td><td style="font-family: Times New Roman; font-size: 10pt;"> </td><td colspan="2" style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;">As Revised</p> </td><td style="font-family: Times New Roman; font-size: 10pt; padding-bottom: 1px;"> </td></tr> <tr style="vertical-align: bottom;"><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt; width: 64%;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Net loss per common share: Diluted</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">$</td><td style="width: 15%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(2.59</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">)</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">$</td><td style="width: 15%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">(2.57</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">)</p> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><td style="font-family: Times New Roman; font-size: 10pt;"> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin-top: 0pt; margin-bottom: 0pt;">Diluted weighted average shares outstanding</p> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 15%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">18,371,083</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt;"> </td><td style="width: 15%; text-align: right; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;">18,482,455</td><td style="width: 1%; font-family: Times New Roman; font-size: 10pt; margin-left: 0pt;"> </td></tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2019	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-2.57
CY2019	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	18482455
CY2020Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	USD
CY2020	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b><i>Concentration of Credit Risk</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and accounts receivable. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of default by the financial institutions holding its cash to the extent of amounts recorded on the balance sheet. With regard to cash, 99% of the Company’s cash is held on deposit with Pacific Western Bank (“Pacific Western”). With regard to revenues and concentration of credit risk, GlaxoSmithKline plc (“GSK” and “GSK Inhaled”) accounted for $0 and $8.1 million of our revenue during the years ended <em style="font: inherit;"> December </em><em style="font: inherit;">31,</em> <em style="font: inherit;">2020</em> and <em style="font: inherit;">2019,</em> respectively, or 0% and 100%, respectively, of our total revenue. Sandoz accounted for $0.7 million and $0 of our revenue during the years ended <em style="font: inherit;"> December 31, 2020 </em>and <em style="font: inherit;">2019,</em> respectively, or 100% and 0%, respectively, of our total revenue.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p>
CY2020	us-gaap	Number Of Operating Segments NumberOfOperatingSegments	1	pure
CY2020	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	2751230
CY2019	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1979411
CY2020Q4	lqda	Common Stock And Preferred Stock Shares Authorized CommonStockAndPreferredStockSharesAuthorized	90000000
CY2020Q4	lqda	Common Stock And Preferred Stock Par Or Stated Value Per Share CommonStockAndPreferredStockParOrStatedValuePerShare	0.001
CY2020Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	80000000
CY2020Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	10000000
CY2019Q1	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	3000000
CY2019Q1	us-gaap	Share Price SharePrice	11.50
CY2019Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	34500000	USD
CY2019Q1	lqda	Proceeds From Issuance Of Common Stock Net Of Offering Costs ProceedsFromIssuanceOfCommonStockNetOfOfferingCosts	31800000	USD
CY2020	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3954000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3376305	USD
CY2020	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3954000	USD
CY2019	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	3376305	USD
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0040	pure
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0160	pure
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0140	pure
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0240	pure
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.87	pure
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.94	pure
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.83	pure
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.88	pure
CY2019	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1	P6Y14D
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	2.78
CY2019	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	8.00
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0	pure
CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	2052976
CY2019Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	9.33
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross	3481191
CY2020	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice	3.75
CY2020	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	91413
CY2020	us-gaap	Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice	2.28
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod	750683
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice	8.22
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber	4692071
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice	5.51
CY2020	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P7Y2M12D
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	37996	USD
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber	1167357
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice	8.77
CY2020	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P2Y10M24D
CY2020Q4	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	1196	USD
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber	4572623
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice	5.47
CY2020	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1	P7Y2M12D
CY2020Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue	37996	USD
CY2020Q4	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions	4492071
CY2020	us-gaap	Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2 SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2	P7Y2M12D
CY2020Q4	us-gaap	Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions	1167357
CY2020	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue	176433	USD
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CY2019	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1	4131982	USD
CY2020	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	91413
CY2019	us-gaap	Stock Issued During Period Shares Stock Options Exercised StockIssuedDuringPeriodSharesStockOptionsExercised	32325
CY2020	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	43141	USD
CY2019	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	141347	USD
CY2020	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	739628	USD
CY2019	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	8072120	USD
CY2020Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	19783740	USD
CY2019Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	20587077	USD
CY2020Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	12978170	USD
CY2019Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	11333112	USD
CY2020Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6805570	USD
CY2019Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	9253965	USD
CY2020	us-gaap	Depreciation And Amortization DepreciationAndAmortization	2856914	USD
CY2019	us-gaap	Depreciation And Amortization DepreciationAndAmortization	2567742	USD
CY2020	us-gaap	Cost Of Property Repairs And Maintenance CostOfPropertyRepairsAndMaintenance	194192	USD
CY2019	us-gaap	Cost Of Property Repairs And Maintenance CostOfPropertyRepairsAndMaintenance	220658	USD
CY2020	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2020Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	54844147	USD
CY2019Q4	us-gaap	Deferred Tax Assets Operating Loss Carryforwards DeferredTaxAssetsOperatingLossCarryforwards	42107372	USD
CY2020Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	3995782	USD
CY2019Q4	us-gaap	Deferred Tax Assets Tax Credit Carryforwards Research DeferredTaxAssetsTaxCreditCarryforwardsResearch	3016889	USD
CY2020Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	1501172	USD
CY2019Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost	973905	USD
CY2020Q4	lqda	Deferred Tax Assets Lease Liability DeferredTaxAssetsLeaseLiability	1576326	USD
CY2019Q4	lqda	Deferred Tax Assets Lease Liability DeferredTaxAssetsLeaseLiability	1508645	USD
CY2020Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation	193490	USD
CY2019Q4	us-gaap	Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsEmployeeCompensation	564572	USD
CY2020Q4	us-gaap	Deferred Tax Assets Property Plant And Equipment DeferredTaxAssetsPropertyPlantAndEquipment	17421	USD
CY2019Q4	us-gaap	Deferred Tax Assets Property Plant And Equipment DeferredTaxAssetsPropertyPlantAndEquipment	0	USD
CY2020Q4	lqda	Deferred Tax Assets Refund Liability DeferredTaxAssetsRefundLiability	620442	USD
CY2019Q4	lqda	Deferred Tax Assets Refund Liability DeferredTaxAssetsRefundLiability	0	USD
CY2020Q4	lqda	Deferred Tax Assets Patent Amortization DeferredTaxAssetsPatentAmortization	76017	USD
CY2019Q4	lqda	Deferred Tax Assets Patent Amortization DeferredTaxAssetsPatentAmortization	86985	USD
CY2020Q4	us-gaap	Deferred Tax Assets Other DeferredTaxAssetsOther	267422	USD
CY2019Q4	us-gaap	Deferred Tax Assets Other DeferredTaxAssetsOther	55972	USD
CY2020Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	61595499	USD
CY2019Q4	us-gaap	Deferred Tax Assets Valuation Allowance DeferredTaxAssetsValuationAllowance	47505967	USD
CY2020Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	1496720	USD
CY2019Q4	us-gaap	Deferred Tax Assets Net DeferredTaxAssetsNet	808373	USD
CY2020Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	0	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities Property Plant And Equipment DeferredTaxLiabilitiesPropertyPlantAndEquipment	158787	USD
CY2020Q4	lqda	Deferred Tax Liabilities Adjustments Due To Changes In Accounting Methods DeferredTaxLiabilitiesAdjustmentsDueToChangesInAccountingMethods	62420	USD
CY2019Q4	lqda	Deferred Tax Liabilities Adjustments Due To Changes In Accounting Methods DeferredTaxLiabilitiesAdjustmentsDueToChangesInAccountingMethods		USD
CY2020Q4	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets	675866	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets	0	USD
CY2020Q4	us-gaap	Deferred Tax Liabilities Leasing Arrangements DeferredTaxLiabilitiesLeasingArrangements	758434	USD
CY2019Q4	us-gaap	Deferred Tax Liabilities Leasing Arrangements DeferredTaxLiabilitiesLeasingArrangements	649586	USD
CY2020Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	1496720	USD
CY2019Q4	us-gaap	Deferred Income Tax Liabilities DeferredIncomeTaxLiabilities	808373	USD
CY2020Q4	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	0	USD
CY2019Q4	us-gaap	Deferred Tax Assets Liabilities Net DeferredTaxAssetsLiabilitiesNet	0	USD
CY2020	us-gaap	Valuation Allowance Deferred Tax Asset Change In Amount ValuationAllowanceDeferredTaxAssetChangeInAmount	13980000	USD
CY2020	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-12550174	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2019	us-gaap	Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate	-10019974	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate	0.210	pure
CY2020	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-1203286	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.020	pure
CY2019	us-gaap	Income Tax Reconciliation State And Local Income Taxes IncomeTaxReconciliationStateAndLocalIncomeTaxes	-957616	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation State And Local Income Taxes EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes	0.020	pure
CY2020	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense	2929	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	0	pure
CY2019	us-gaap	Income Tax Reconciliation Nondeductible Expense IncomeTaxReconciliationNondeductibleExpense	94903	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Nondeductible Expense EffectiveIncomeTaxRateReconciliationNondeductibleExpense	-0.002	pure
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount	247011	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent	-0.004	pure
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount	258338	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent	-0.005	pure
CY2020	lqda	Effective Income Tax Rate Reconciliation Transaction Costs EffectiveIncomeTaxRateReconciliationTransactionCosts	573494	USD
CY2020	lqda	Effective Income Tax Rate Reconciliation Transaction Costs Percent EffectiveIncomeTaxRateReconciliationTransactionCostsPercent	-0.010	pure
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CY2019	lqda	Effective Income Tax Rate Reconciliation Transaction Costs Percent EffectiveIncomeTaxRateReconciliationTransactionCostsPercent	0	pure
CY2020	us-gaap	Income Tax Reconciliation Tax Credits IncomeTaxReconciliationTaxCredits	978793	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits EffectiveIncomeTaxRateReconciliationTaxCredits	0.016	pure
CY2019	us-gaap	Income Tax Reconciliation Tax Credits IncomeTaxReconciliationTaxCredits	634842	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Tax Credits EffectiveIncomeTaxRateReconciliationTaxCredits	0.013	pure
CY2020	us-gaap	Income Tax Reconciliation Tax Settlements State And Local IncomeTaxReconciliationTaxSettlementsStateAndLocal	-667	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Tax Settlements State And Local EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal	0	pure
CY2019	us-gaap	Income Tax Reconciliation Tax Settlements State And Local IncomeTaxReconciliationTaxSettlementsStateAndLocal	3887	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Tax Settlements State And Local EffectiveIncomeTaxRateReconciliationTaxSettlementsStateAndLocal	0	pure
CY2020	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	-70721	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	0.001	pure
CY2019	us-gaap	Income Tax Reconciliation Other Adjustments IncomeTaxReconciliationOtherAdjustments	77009	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Other Adjustments EffectiveIncomeTaxRateReconciliationOtherAdjustments	-0.001	pure
CY2020	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	13980207	USD
CY2020	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.233	pure
CY2019	us-gaap	Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance	11178295	USD
CY2019	us-gaap	Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance	-0.235	pure
CY2020	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2020	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.000	pure
CY2019	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0	USD
CY2019	us-gaap	Effective Income Tax Rate Continuing Operations EffectiveIncomeTaxRateContinuingOperations	0.000	pure
CY2018Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	0	USD
CY2019	us-gaap	Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions	158710	USD
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CY2019Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	158710	USD
CY2020	us-gaap	Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions	244698	USD
CY2020	us-gaap	Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions	0	USD
CY2020Q4	us-gaap	Unrecognized Tax Benefits UnrecognizedTaxBenefits	403408	USD
CY2019Q2	lqda	Operating Lease Maximum Commitment To Incur Construction Cost OperatingLeaseMaximumCommitmentToIncurConstructionCost	3100000	USD
CY2019Q4	lqda	Operating Lease Construction Cost OperatingLeaseConstructionCost	2800000	USD
CY2020Q4	us-gaap	Lessee Finance Lease Discount Rate LesseeFinanceLeaseDiscountRate	0.075	pure
CY2020	us-gaap	Lease Cost LeaseCost	2262436	USD
CY2019	us-gaap	Lease Cost LeaseCost	2392208	USD
CY2020Q4	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y9M18D
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CY2020Q4	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.103	pure
CY2020Q4	us-gaap	Finance Lease Weighted Average Discount Rate Percent FinanceLeaseWeightedAverageDiscountRatePercent	0.073	pure
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1207708	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due Next Twelve Months FinanceLeaseLiabilityPaymentsDueNextTwelveMonths	957193	USD
CY2020Q4	lqda	Lease Liability Payments Due Next Twelve Months LeaseLiabilityPaymentsDueNextTwelveMonths	2164901	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	1243934	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due Year Two FinanceLeaseLiabilityPaymentsDueYearTwo	260857	USD
CY2020Q4	lqda	Lease Liability Payments Due Year Two LeaseLiabilityPaymentsDueYearTwo	1504791	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	1283253	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due Year Three FinanceLeaseLiabilityPaymentsDueYearThree	0	USD
CY2020Q4	lqda	Lease Liability Payments Due Year Three LeaseLiabilityPaymentsDueYearThree	1283253	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	1316540	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due Year Four FinanceLeaseLiabilityPaymentsDueYearFour	0	USD
CY2020Q4	lqda	Lease Liability Payments Due Year Four LeaseLiabilityPaymentsDueYearFour	1316540	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	1355923	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due Year Five FinanceLeaseLiabilityPaymentsDueYearFive	0	USD
CY2020Q4	lqda	Lease Liability Payments Due Year Five LeaseLiabilityPaymentsDueYearFive	1355923	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	1157807	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due After Year Five FinanceLeaseLiabilityPaymentsDueAfterYearFive	0	USD
CY2020Q4	lqda	Lease Liability Payments Due After Year Five LeaseLiabilityPaymentsDueAfterYearFive	1157807	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	7565165	USD
CY2020Q4	us-gaap	Finance Lease Liability Payments Due FinanceLeaseLiabilityPaymentsDue	1218050	USD
CY2020Q4	lqda	Lease Liability Payments Due Total LeaseLiabilityPaymentsDueTotal	8783215	USD
CY2020Q4	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	1894194	USD
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CY2020Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	5670971	USD
CY2020Q4	us-gaap	Finance Lease Liability FinanceLeaseLiability	1178620	USD
CY2020Q4	lqda	Lease Liability LeaseLiability	6849591	USD
CY2020	lqda	Maximum Net Sales Threshold As Basis For Payment Of Future Contingent Royalties MaximumNetSalesThresholdAsBasisForPaymentOfFutureContingentRoyalties	1500000	USD
CY2020Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	-0	USD
CY2019Q4	us-gaap	Long Term Debt Current LongTermDebtCurrent	5585637	USD
CY2020Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	10292485	USD
CY2019Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	10292484	USD
CY2020	us-gaap	Defined Contribution Plan Employer Matching Contribution Percent Of Match DefinedContributionPlanEmployerMatchingContributionPercentOfMatch	0.04	pure
CY2020	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	416345	USD
CY2019	us-gaap	Defined Contribution Plan Cost Recognized DefinedContributionPlanCostRecognized	400378	USD

Files In Submission

Name	View Source	Status
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0001437749-21-007174-index.html	Edgar Link	pending
0001437749-21-007174.txt	Edgar Link	pending
0001437749-21-007174-xbrl.zip	Edgar Link	pending
ex_235353.htm	Edgar Link	pending
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ex_235357.htm	Edgar Link	pending
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ex_236056.htm	Edgar Link	pending
ex_236115.htm	Edgar Link	pending
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FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
lqda-20201231.xsd	Edgar Link	pending
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$LQDA
Liquidia Corp Stock $lqda

2020 Q4 Form 10-K Financial Statement

#000143774921007174 Filed on March 25, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LQDA Liquidia Corp Stock $lqda

2020 Q4 Form 10-K Financial Statement

#000143774921007174 Filed on March 25, 2021

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$LQDA
Liquidia Corp Stock $lqda