$LQDA
Liquidia Corp

2021 Q1 Form 10-Q Financial Statement

#000155837021007065 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.084M $0.00
YoY Change
Cost Of Revenue $694.0K $0.00
YoY Change
Gross Profit $2.390M $0.00
YoY Change
Gross Profit Margin 77.5%
Selling, General & Admin $5.190M $3.820M
YoY Change 35.86% 40.44%
% of Gross Profit 217.15%
Research & Development $6.054M $10.82M
YoY Change -44.06% 1.53%
% of Gross Profit 253.31%
Depreciation & Amortization $1.609M $732.0K
YoY Change 119.8% 20.0%
% of Gross Profit 67.32%
Operating Expenses $6.054M $10.82M
YoY Change -44.06% -20.94%
Operating Profit -$9.001M -$14.65M
YoY Change -38.54%
Interest Expense $150.0K $254.9K
YoY Change -41.16% -418.69%
% of Operating Profit
Other Income/Expense, Net -$182.0K -$145.4K
YoY Change 25.21%
Pretax Income -$9.180M -$14.79M
YoY Change -37.93% 7.41%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$9.183M -$14.79M
YoY Change -37.92% 7.42%
Net Earnings / Revenue -297.76%
Basic Earnings Per Share -$0.21
Diluted Earnings Per Share -$0.21 -$520.2K
COMMON SHARES
Basic Shares Outstanding 43.44M
Diluted Shares Outstanding 43.44M 28.43M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.64M $40.13M
YoY Change 33.67% -34.01%
Cash & Equivalents $53.60M $40.13M
Short-Term Investments
Other Short-Term Assets $810.0K $880.0K
YoY Change -7.95% 193.33%
Inventory
Prepaid Expenses
Receivables $627.6K
Other Receivables $0.00
Total Short-Term Assets $55.08M $41.01M
YoY Change 34.31% -32.9%
LONG-TERM ASSETS
Property, Plant & Equipment $6.296M $11.39M
YoY Change -44.72% -0.35%
Goodwill $3.903M
YoY Change
Intangibles $5.207M
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.37M $380.0K
YoY Change 3944.74% -67.24%
Total Long-Term Assets $33.37M $11.77M
YoY Change 183.54% -6.59%
TOTAL ASSETS
Total Short-Term Assets $55.08M $41.01M
Total Long-Term Assets $33.37M $11.77M
Total Assets $88.45M $52.78M
YoY Change 67.59% -28.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.004M $5.530M
YoY Change -45.68% -7.68%
Accrued Expenses $4.550M $3.480M
YoY Change 30.75% 9.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $330.0K $7.070M
YoY Change -95.33% 288.46%
Total Short-Term Liabilities $7.883M $16.08M
YoY Change -50.98% 46.45%
LONG-TERM LIABILITIES
Long-Term Debt $10.18M $9.410M
YoY Change 8.15% -16.36%
Other Long-Term Liabilities $6.900M $5.510M
YoY Change 25.23% -61.12%
Total Long-Term Liabilities $10.18M $14.92M
YoY Change -31.79% -41.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.883M $16.08M
Total Long-Term Liabilities $10.18M $14.92M
Total Liabilities $25.54M $31.01M
YoY Change -17.63% -14.81%
SHAREHOLDERS EQUITY
Retained Earnings -$284.2M
YoY Change
Common Stock $43.35K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $62.91M $21.77M
YoY Change
Total Liabilities & Shareholders Equity $88.45M $52.78M
YoY Change 67.59% -28.4%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$9.183M -$14.79M
YoY Change -37.92% 7.42%
Depreciation, Depletion And Amortization $1.609M $732.0K
YoY Change 119.8% 20.0%
Cash From Operating Activities -$12.39M -$14.44M
YoY Change -14.21% 42.81%
INVESTING ACTIVITIES
Capital Expenditures $52.00K $182.2K
YoY Change -71.46% -172.89%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$52.00K -$182.2K
YoY Change -71.46% -27.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.35M $1.412M
YoY Change 633.34%
Cash From Financing Activities 759.0K -1.048M
YoY Change -172.41% -103.31%
NET CHANGE
Cash From Operating Activities -12.39M -14.44M
Cash From Investing Activities -52.00K -182.2K
Cash From Financing Activities 759.0K -1.048M
Net Change In Cash -11.68M -15.67M
YoY Change -25.46% -173.66%
FREE CASH FLOW
Cash From Operating Activities -$12.39M -$14.44M
Capital Expenditures $52.00K $182.2K
Free Cash Flow -$12.44M -$14.62M
YoY Change -14.93% 48.28%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001819576
CY2021Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2021Q1 dei Amendment Flag
AmendmentFlag
false
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
43336277
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
43346924
CY2021Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q1 dei Document Type
DocumentType
10-Q
CY2021Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2021Q1 dei Document Period End Date
DocumentPeriodEndDate
2021-03-31
CY2021Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2021Q1 dei Entity File Number
EntityFileNumber
001-39724
CY2021Q1 dei Entity Registrant Name
EntityRegistrantName
LIQUIDIA CORPORATION
CY2021Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2021Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-1710962
CY2021Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
419 Davis Drive, Suite 100
CY2021Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Morrisville
CY2021Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
NC
CY2021Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
27560
CY2021Q1 dei City Area Code
CityAreaCode
919
CY2021Q1 dei Local Phone Number
LocalPhoneNumber
328-4400
CY2021Q1 dei Security12b Title
Security12bTitle
Common stock, $0.001 par value per share
CY2021Q1 dei Trading Symbol
TradingSymbol
LQDA
CY2021Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2021Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2021Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2021Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2021Q1 dei Entity Shell Company
EntityShellCompany
false
CY2021Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
51972961
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53637155
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65316481
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
627600
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
0
CY2021Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
814046
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
752447
CY2021Q1 us-gaap Assets Current
AssetsCurrent
55078801
CY2020Q4 us-gaap Assets Current
AssetsCurrent
66068928
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6296068
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6805570
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2596305
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2649328
CY2021Q1 lqda Indemnification Asset Related Party
IndemnificationAssetRelatedParty
2985461
CY2020Q4 lqda Indemnification Asset Related Party
IndemnificationAssetRelatedParty
1387275
CY2021Q1 lqda Business Combination Contract Acquisition Costs Net
BusinessCombinationContractAcquisitionCostsNet
12034436
CY2020Q4 lqda Business Combination Contract Acquisition Costs Net
BusinessCombinationContractAcquisitionCostsNet
12792491
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5206625
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5534843
CY2021Q1 us-gaap Goodwill
Goodwill
3903282
CY2020Q4 us-gaap Goodwill
Goodwill
3903282
CY2021Q1 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
350896
CY2020Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
390043
CY2021Q1 us-gaap Assets
Assets
88451874
CY2020Q4 us-gaap Assets
Assets
99531760
CY2021Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
3004002
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3734227
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1487190
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3259515
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2367197
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1386880
CY2021Q1 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
0
CY2020Q4 us-gaap Customer Refund Liability Current
CustomerRefundLiabilityCurrent
1768864
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
691103
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
664670
CY2021Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
333365
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
923218
CY2021Q1 us-gaap Liabilities Current
LiabilitiesCurrent
7882857
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11737374
CY2021Q1 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
2081272
CY2020Q4 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
1154360
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4821539
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
5006301
CY2021Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
580546
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
255402
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10176481
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10292485
CY2021Q1 us-gaap Liabilities
Liabilities
25542695
CY2020Q4 us-gaap Liabilities
Liabilities
28445922
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
43346924
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
43336277
CY2021Q1 us-gaap Common Stock Value
CommonStockValue
43347
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
43336
CY2021Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
347051204
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
346044721
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-284185372
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-275002219
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
62909179
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
71085838
CY2021Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
88451874
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
99531760
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3083631
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2021Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
693735
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
0
CY2021Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6053726
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10822924
CY2021Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
5337253
CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
3823197
CY2021Q1 us-gaap Costs And Expenses
CostsAndExpenses
12084714
CY2020Q1 us-gaap Costs And Expenses
CostsAndExpenses
14646121
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-9001083
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-14646121
CY2021Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
20766
CY2020Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
109590
CY2021Q1 us-gaap Interest Expense
InterestExpense
202836
CY2020Q1 us-gaap Interest Expense
InterestExpense
254948
CY2021Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-182070
CY2020Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-145358
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9183153
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-14791479
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.21
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.52
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
43443361
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
28428616
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
71085838
CY2021Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
494
CY2021Q1 lqda Stock Issued During Period Value Vesting Of Restricted Stock Units
StockIssuedDuringPeriodValueVestingOfRestrictedStockUnits
0
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
261000
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
745000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9183153
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
62909179
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
34947547
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
878963
CY2020Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
11491
CY2020Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
0
CY2020Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
725398
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-14791479
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
21771920
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9183153
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-14791479
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
745000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
878963
CY2021Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1609409
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
732029
CY2021Q1 lqda Noncash Portion Of Lease Expense
NoncashPortionOfLeaseExpense
53023
CY2020Q1 lqda Noncash Portion Of Lease Expense
NoncashPortionOfLeaseExpense
38192
CY2021Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
124178
CY2020Q1 us-gaap Paid In Kind Interest
PaidInKindInterest
19158
CY2021Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
627600
CY2020Q1 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
0
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
61599
CY2020Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
294672
CY2021Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-39147
CY2020Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2328411
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2205615
CY2021Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1772325
CY2020Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1736417
CY2021Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
943804
CY2020Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-1351560
CY2021Q1 lqda Increase Decrease In Refund Liability
IncreaseDecreaseInRefundLiability
-1768864
CY2020Q1 lqda Increase Decrease In Refund Liability
IncreaseDecreaseInRefundLiability
0
CY2021Q1 lqda Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-158329
CY2020Q1 lqda Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-134945
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12385720
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-14438116
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
52419
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
182216
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-52419
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-182216
CY2021Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
225922
CY2020Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
304285
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10352940
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
1411766
CY2021Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10410269
CY2020Q1 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
CY2021Q1 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
926912
CY2020Q1 us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
0
CY2021Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
CY2020Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
725398
CY2021Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
0
CY2020Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
68965
CY2021Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
494
CY2020Q1 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
11491
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
758813
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-1048127
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11679326
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-15668459
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65316481
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
55796378
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
53637155
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
40127919
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
87320
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
241804
CY2021Q1 lqda Operating Lease Liabilities Cash Paid
OperatingLeaseLiabilitiesCashPaid
300424
CY2020Q1 lqda Operating Lease Liabilities Cash Paid
OperatingLeaseLiabilitiesCashPaid
291743
CY2021Q1 lqda Reduction Of Lease Liability And Right Of Use Asset From Lease Modification
ReductionOfLeaseLiabilityAndRightOfUseAssetFromLeaseModification
38787
CY2020Q1 lqda Reduction Of Lease Liability And Right Of Use Asset From Lease Modification
ReductionOfLeaseLiabilityAndRightOfUseAssetFromLeaseModification
0
CY2021Q1 lqda Increase In Indemnification Asset Through Accounts Payable
IncreaseInIndemnificationAssetThroughAccountsPayable
1598186
CY2020Q1 lqda Increase In Indemnification Asset Through Accounts Payable
IncreaseInIndemnificationAssetThroughAccountsPayable
0
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
CY2020Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
104167
CY2021Q1 lqda Number Of Products Under Development
NumberOfProductsUnderDevelopment
1
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-9200000
CY2021Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-284200000
CY2021Q1 lqda Common Stock And Preferred Stock Par Or Stated Value Per Share
CommonStockAndPreferredStockParOrStatedValuePerShare
0.001
CY2021Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2021Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q1 lqda Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
0
CY2021Q1 lqda Class Of Warrant Or Right Exercised During Period
ClassOfWarrantOrRightExercisedDuringPeriod
0
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 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>
CY2021Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Revision of Previously Issued Financial Statements</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">During the three months ended June 30, 2020, 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 average common shares outstanding and diluted net loss per common share, which resulted in an error in diluted weighted average common shares outstanding for the three month period ended March 31, 2020. The Company has evaluated this error and determined that this presentation error was not material to any prior annual or </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">interim periods. However, the Company is revising the previously presented March 31, 2020 diluted weighted common shares outstanding as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:72.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:72.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:25.14%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Three Months Ended </b></p></td></tr><tr><td style="vertical-align:bottom;width:72.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:25.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">March 31, 2020</b></p></td></tr><tr><td style="vertical-align:bottom;width:72.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">    </p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.58%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">As Presented</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;">    </p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.57%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">As Revised</b></p></td></tr><tr><td style="background-color:#cceeff;vertical-align:bottom;width:72.87%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">Diluted weighted average shares outstanding</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.41%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 28,322,342</p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.99%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:1.16%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="background-color:#cceeff;vertical-align:bottom;white-space:nowrap;width:10.4%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0pt 0pt;"> 28,428,616</p></td></tr></table>
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28428616
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Cash and Cash Equivalents</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">The Company considers all highly liquid investments with a maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents as of March 31, 2021 were $53.6 million and included cash investments in money market funds of $42.7 million. Cash as of December 31, 2020 was $65.3 million and included no cash equivalents.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Accounts Receivable</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">Accounts receivable are stated at net realizable value including an allowance for doubtful accounts as of each balance sheet date, if applicable. As of March 31, 2021 and December 31, 2020, the Company has not recorded an allowance for doubtful accounts.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Business Combination</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">In a business combination, the acquisition method of accounting requires that the assets acquired and liabilities assumed be recorded as of the date of the acquisition at their respective fair values with limited exceptions. Assets acquired and liabilities assumed in a business combination that arise from contingencies are generally recognized at fair value. If fair value cannot be determined, the asset or liability is recognized if probable and reasonably estimable; if these criteria are not met, no asset or liability is recognized. Transaction costs and costs to restructure the acquired company are expensed as incurred. The operating results of the acquired business are reflected in the Company’s consolidated financial statements after the date of the acquisition.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Long-Lived Assets</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">The Company reviews long-lived assets, including definite-life intangible assets, for realizability on an ongoing basis. Changes in depreciation and amortization, generally accelerated depreciation and variable amortization, are determined and recorded when estimates of the remaining useful lives or residual values of long-term assets change. The Company also reviews for impairment when conditions exist that indicate the carrying amount of the assets may not be fully recoverable. In those circumstances, the Company performs undiscounted operating cash flow analyses to determine if an impairment exists. When testing for asset impairment, the Company groups assets and liabilities at the lowest level for which cash flows are separately identifiable. Any impairment loss is calculated as the excess of the asset’s carrying value over its estimated fair value. Fair value is estimated based on the discounted cash flows for the asset group over the remaining useful life or based on the expected cash proceeds for the asset less costs of disposal. Any impairment losses would be recorded in the consolidated statements of operations. To date, no such impairments have occurred.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Goodwill</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">The Company acquired goodwill on its condensed consolidated balance sheet during the fourth quarter of 2020 from the Merger Transaction. The Company assesses goodwill for impairment at least annually as of July 1 or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company has one reporting unit. The Company has the option to first assess qualitative factors to determine whether events or circumstances indicate it is more likely than not that the fair value of a reporting unit is greater than its carrying amount, in which case a quantitative impairment test is not required.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 7.2pt 12pt 0pt;">Per ASU 2017-04 the quantitative goodwill impairment test is performed by comparing the fair value of the reporting unit with its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not impaired. An impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the fair value up to the amount of goodwill allocated to the reporting unit. Income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit are considered when measuring the goodwill impairment loss, if applicable. To date, no such impairments have occurred.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentration of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents. The Company is exposed to credit risk, subject to federal deposit insurance, in the event of default by the financial institutions holding its cash and cash equivalents to the extent of amounts recorded on the condensed consolidated balance sheet. 81.5% of the Company’s cash and cash equivalents are held with Silicon Valley Bank (“SVB”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">As of and for the three months ended March 31, 2021, one customer accounted for all of the Company's accounts receivable and revenue.</p>
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
53600000
CY2021Q1 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
42700000
CY2020Q4 us-gaap Cash
Cash
65300000
CY2020Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q1 us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5125788
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2168282
CY2021Q1 lqda Common Stock And Preferred Stock Shares Authorized
CommonStockAndPreferredStockSharesAuthorized
90000000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.90
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y1M6D
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
745000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
878963
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
745000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
878963
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0062
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0167
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0090
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0160
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.93
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.94
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.87
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.09
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.38
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
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
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1162918
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.80
CY2021Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
623
CY2021Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.33
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
811578
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.46
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5042788
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.57
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M24D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
98081
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1042063
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
8.21
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y10M24D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
11020
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4998291
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.55
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y4M24D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
98081
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
0
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19797373
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19783740
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13501305
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
12978170
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6296068
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
6805570
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
523135
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
732029
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q1 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.075
CY2021Q1 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.065
CY2021Q1 us-gaap Lease Cost
LeaseCost
343541
CY2020Q1 us-gaap Lease Cost
LeaseCost
582972
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.103
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.066
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
907284
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
289774
CY2021Q1 lqda Lease Liability Payments Due Remainder Of Fiscal Year
LeaseLiabilityPaymentsDueRemainderOfFiscalYear
1197058
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1243934
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
342315
CY2021Q1 lqda Lease Liability Payments Due Next Twelve Months
LeaseLiabilityPaymentsDueNextTwelveMonths
1586249
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1283253
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
195180
CY2021Q1 lqda Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
1478433
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1316540
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
114612
CY2021Q1 lqda Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
1431152
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1355923
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
64142
CY2021Q1 lqda Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
1420065
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1157807
CY2021Q1 lqda Lease Liability Payments Due After Year Five
LeaseLiabilityPaymentsDueAfterYearFive
1157807
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7264741
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1006023
CY2021Q1 lqda Lease Liability Payments Due Total
LeaseLiabilityPaymentsDueTotal
8270764
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1752099
CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
92112
CY2021Q1 lqda Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
1844211
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
5512642
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
913911
CY2021Q1 lqda Lease Liability
LeaseLiability
6426553
CY2021Q1 lqda Maximum Net Sales Threshold As Basis For Payment Of Future Contingent Royalties
MaximumNetSalesThresholdAsBasisForPaymentOfFutureContingentRoyalties
1500000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
10176481
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
10292485
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5250000
CY2021Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5250000
CY2021Q1 lqda Long Term Debt Maturity Thereafter
LongTermDebtMaturityThereafter
0
CY2021Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
10500000
CY2021Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
323519
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10176481

Files In Submission

Name View Source Status
0001558370-21-007065-index-headers.html Edgar Link pending
0001558370-21-007065-index.html Edgar Link pending
0001558370-21-007065.txt Edgar Link pending
0001558370-21-007065-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lqda-20210331.xsd Edgar Link pending
lqda-20210331x10q.htm Edgar Link pending
lqda-20210331x10q001.jpg Edgar Link pending
lqda-20210331x10q002.jpg Edgar Link pending
lqda-20210331x10q_htm.xml Edgar Link completed
lqda-20210331xex31d1.htm Edgar Link pending
lqda-20210331xex31d2.htm Edgar Link pending
lqda-20210331xex32d1.htm Edgar Link pending
lqda-20210331xex32d2.htm Edgar Link pending
lqda-20210331_cal.xml Edgar Link unprocessable
lqda-20210331_def.xml Edgar Link unprocessable
lqda-20210331_lab.xml Edgar Link unprocessable
lqda-20210331_pre.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending