$LQDA
Liquidia Corp

2022 Q3 Form 10-Q Financial Statement

#000155837022013274 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $3.165M $3.918M $3.492M
YoY Change -0.43% 16.05% 13.23%
Cost Of Revenue $740.0K $731.0K $694.0K
YoY Change -16.81% 2.38% 0.0%
Gross Profit $2.425M $3.187M $2.798M
YoY Change 5.94% 19.72% 17.07%
Gross Profit Margin 76.62% 81.34% 80.13%
Selling, General & Admin $6.713M $6.902M $12.50M
YoY Change 38.7% 57.62% 140.92%
% of Gross Profit 276.82% 216.57% 446.89%
Research & Development $4.512M $5.219M $4.728M
YoY Change 0.55% 13.58% -21.9%
% of Gross Profit 186.06% 163.76% 168.98%
Depreciation & Amortization $1.128M $1.006M $947.0K
YoY Change -27.02% -36.52% -41.14%
% of Gross Profit 46.52% 31.57% 33.85%
Operating Expenses $4.512M $5.219M $4.728M
YoY Change 0.55% 13.58% -21.9%
Operating Profit -$8.831M -$8.970M -$14.47M
YoY Change 24.74% 41.17% 60.78%
Interest Expense $620.0K $542.0K $478.0K
YoY Change 202.28% 167.0% 218.67%
% of Operating Profit
Other Income/Expense, Net -$261.0K -$477.0K -$1.471M
YoY Change 29.7% 140.91% 708.24%
Pretax Income -$9.092M -$9.447M -$15.94M
YoY Change 24.87% 44.2% 73.67%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$9.092M -$9.447M -$15.94M
YoY Change 24.87% 44.18% 73.61%
Net Earnings / Revenue -287.27% -241.12% -456.56%
Basic Earnings Per Share -$0.14 -$0.15 -$0.30
Diluted Earnings Per Share -$0.14 -$0.15 -$0.30
COMMON SHARES
Basic Shares Outstanding 64.36M 62.18M 52.47M
Diluted Shares Outstanding 64.46M 62.18M 52.47M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $98.32M $103.8M $57.79M
YoY Change 53.5% 52.95% 7.74%
Cash & Equivalents $98.32M $103.8M $57.80M
Short-Term Investments
Other Short-Term Assets $1.602M $907.0K $874.0K
YoY Change 326.4% 106.38% 7.9%
Inventory
Prepaid Expenses
Receivables $3.136M $3.753M $3.287M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $103.1M $108.5M $61.96M
YoY Change 52.72% 52.13% 12.48%
LONG-TERM ASSETS
Property, Plant & Equipment $3.943M $4.219M $4.614M
YoY Change -27.68% -28.25% -26.72%
Goodwill $3.903M $3.903M $3.903M
YoY Change -0.01% -0.01% -0.01%
Intangibles $3.812M $4.041M $4.225M
YoY Change -15.67% -16.77% -18.85%
Long-Term Investments
YoY Change
Other Assets $15.67M $16.15M $16.49M
YoY Change -4.86% 1.7% 7.26%
Total Long-Term Assets $29.51M $30.58M $31.57M
YoY Change -10.08% -7.5% -5.4%
TOTAL ASSETS
Total Short-Term Assets $103.1M $108.5M $61.96M
Total Long-Term Assets $29.51M $30.58M $31.57M
Total Assets $132.6M $139.1M $93.53M
YoY Change 32.17% 33.24% 5.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.140M $1.412M $1.666M
YoY Change -29.16% -44.55% -44.54%
Accrued Expenses $6.089M $5.144M $5.976M
YoY Change 18.7% 25.59% 31.34%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $231.0K $281.0K $334.0K
YoY Change -29.02% -14.98% 1.21%
Total Short-Term Liabilities $7.460M $6.837M $7.976M
YoY Change 5.6% -1.95% 1.18%
LONG-TERM LIABILITIES
Long-Term Debt $19.74M $19.61M $19.48M
YoY Change 91.07% 91.21% 91.38%
Other Long-Term Liabilities $10.14M $10.31M $10.44M
YoY Change 6.56% 35.1% 51.26%
Total Long-Term Liabilities $19.74M $19.61M $19.48M
YoY Change 91.07% 91.21% 91.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.460M $6.837M $7.976M
Total Long-Term Liabilities $19.74M $19.61M $19.48M
Total Liabilities $37.53M $36.98M $38.14M
YoY Change 37.31% 45.8% 49.3%
SHAREHOLDERS EQUITY
Retained Earnings -$344.1M -$335.0M -$325.5M
YoY Change 15.47% 15.24% 14.53%
Common Stock $64.00K $64.00K $53.00K
YoY Change 23.13% 23.14% 22.27%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $95.03M $102.1M $55.39M
YoY Change
Total Liabilities & Shareholders Equity $132.6M $139.1M $93.53M
YoY Change 32.17% 33.24% 5.74%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$9.092M -$9.447M -$15.94M
YoY Change 24.87% 44.18% 73.61%
Depreciation, Depletion And Amortization $1.128M $1.006M $947.0K
YoY Change -27.02% -36.52% -41.14%
Cash From Operating Activities -$5.774M -$8.429M -$9.782M
YoY Change -0.97% 2.1% -21.02%
INVESTING ACTIVITIES
Capital Expenditures -$94.00K -$7.000K $0.00
YoY Change -81.2% -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $5.000K
YoY Change
Cash From Investing Activities -$94.00K -$2.000K $0.00
YoY Change -94.63% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $10.50M
YoY Change 1.42%
Cash From Financing Activities 348.0K 54.48M 10.08M
YoY Change -82.55% 141.62% 1228.33%
NET CHANGE
Cash From Operating Activities -5.774M -8.429M -9.782M
Cash From Investing Activities -94.00K -2.000K 0.000
Cash From Financing Activities 348.0K 54.48M 10.08M
Net Change In Cash -5.520M 46.05M 300.0K
YoY Change 43.91% 223.06% -102.57%
FREE CASH FLOW
Cash From Operating Activities -$5.774M -$8.429M -$9.782M
Capital Expenditures -$94.00K -$7.000K $0.00
Free Cash Flow -$5.680M -$8.422M -$9.782M
YoY Change -2.58% 2.47% -21.35%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62179305
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
50847126
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57349129
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47165696
dei Entity Central Index Key
EntityCentralIndexKey
0001819576
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
CY2022Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
64346528
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
52287737
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.15
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.44
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.33
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39724
dei Entity Registrant Name
EntityRegistrantName
LIQUIDIA CORPORATION
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-1710962
dei Entity Address Address Line1
EntityAddressAddressLine1
419 Davis Drive, Suite 100
dei Entity Address City Or Town
EntityAddressCityOrTown
Morrisville
dei Entity Address State Or Province
EntityAddressStateOrProvince
NC
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
27560
dei City Area Code
CityAreaCode
919
dei Local Phone Number
LocalPhoneNumber
328-4400
dei Security12b Title
Security12bTitle
Common stock, $0.001 par value per share
dei Trading Symbol
TradingSymbol
LQDA
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
true
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
64362336
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
103840000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
57494000
CY2022Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
3753000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
2990000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
907000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
792000
CY2022Q2 us-gaap Assets Current
AssetsCurrent
108500000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
61276000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4219000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5017000
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2266000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2412000
CY2022Q2 lqda Indemnification Asset Related Party
IndemnificationAssetRelatedParty
6513000
CY2021Q4 lqda Indemnification Asset Related Party
IndemnificationAssetRelatedParty
6282000
CY2022Q2 lqda Business Combination Contract Acquisition Costs Net
BusinessCombinationContractAcquisitionCostsNet
9333000
CY2021Q4 lqda Business Combination Contract Acquisition Costs Net
BusinessCombinationContractAcquisitionCostsNet
10138000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4041000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4390000
CY2022Q2 us-gaap Goodwill
Goodwill
3903000
CY2021Q4 us-gaap Goodwill
Goodwill
3903000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
307000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
311000
CY2022Q2 us-gaap Assets
Assets
139082000
CY2021Q4 us-gaap Assets
Assets
93729000
CY2022Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
1412000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1070000
CY2022Q2 lqda Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
4310000
CY2021Q4 lqda Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
5171000
CY2022Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
834000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
775000
CY2022Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
281000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
311000
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
6837000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
7327000
CY2022Q2 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
6512000
CY2021Q4 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
6143000
CY2022Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3798000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
4232000
CY2022Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
222000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
352000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19606000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
10410000
CY2022Q2 us-gaap Liabilities
Liabilities
36975000
CY2021Q4 us-gaap Liabilities
Liabilities
28464000
CY2022Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
80000000
CY2022Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
64346528
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
52287737
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
64000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
52000
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
437014000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
374794000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-334971000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-309581000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
102107000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
65265000
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
139082000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
93729000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3918000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3376000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7410000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
6460000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
731000
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
714000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1425000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1407000
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5219000
CY2021Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4595000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9947000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10649000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6938000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
4421000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19480000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
9758000
CY2022Q2 us-gaap Costs And Expenses
CostsAndExpenses
12888000
CY2021Q2 us-gaap Costs And Expenses
CostsAndExpenses
9730000
us-gaap Costs And Expenses
CostsAndExpenses
30852000
us-gaap Costs And Expenses
CostsAndExpenses
21814000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-8970000
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6354000
us-gaap Operating Income Loss
OperatingIncomeLoss
-23442000
us-gaap Operating Income Loss
OperatingIncomeLoss
-15354000
CY2022Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
65000
CY2021Q2 us-gaap Investment Income Interest
InvestmentIncomeInterest
5000
us-gaap Investment Income Interest
InvestmentIncomeInterest
69000
us-gaap Investment Income Interest
InvestmentIncomeInterest
25000
CY2022Q2 us-gaap Interest Expense
InterestExpense
542000
CY2021Q2 us-gaap Interest Expense
InterestExpense
203000
us-gaap Interest Expense
InterestExpense
1020000
us-gaap Interest Expense
InterestExpense
352000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-997000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-53000
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-477000
CY2021Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-198000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1948000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-380000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-9447000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-6552000
us-gaap Net Income Loss
NetIncomeLoss
-25390000
us-gaap Net Income Loss
NetIncomeLoss
-15734000
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.15
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.44
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62179305
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50847126
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57349129
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47165696
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
65265000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
593000
CY2022Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
28000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
1317000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4129000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-15943000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
55389000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000
CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
54461000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1703000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-9447000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
102107000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
71086000
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
-9183000
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
62909000
CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
21711000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
953000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-6552000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
79021000
us-gaap Profit Loss
ProfitLoss
-25390000
us-gaap Profit Loss
ProfitLoss
-15734000
us-gaap Share Based Compensation
ShareBasedCompensation
5832000
us-gaap Share Based Compensation
ShareBasedCompensation
1698000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1953000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3195000
lqda Noncash Portion Of Lease Expense
NoncashPortionOfLeaseExpense
146000
lqda Noncash Portion Of Lease Expense
NoncashPortionOfLeaseExpense
110000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-1000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-29000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-997000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-53000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-109000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-77000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
763000
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
2992000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
115000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-313000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-4000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-72000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
111000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4143000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-721000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1233000
lqda Increase Decrease In Refund Liability
IncreaseDecreaseInRefundLiability
0
lqda Increase Decrease In Refund Liability
IncreaseDecreaseInRefundLiability
-1769000
lqda Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-375000
lqda Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-321000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18211000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20645000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
87000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
5000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-87000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
160000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
307000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10500000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
10353000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
19767000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10410000
us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
369000
us-gaap Loss Contingency Receivable Proceeds
LossContingencyReceivableProceeds
1845000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
54461000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
21710000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
622000
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
1000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
64559000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
23306000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
46346000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
2574000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
57494000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
65316000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
103840000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
67890000
us-gaap Interest Paid Net
InterestPaidNet
650000
us-gaap Interest Paid Net
InterestPaidNet
195000
lqda Operating Lease Liabilities Cash Paid
OperatingLeaseLiabilitiesCashPaid
619000
lqda Operating Lease Liabilities Cash Paid
OperatingLeaseLiabilitiesCashPaid
601000
lqda Reduction Of Lease Liability And Right Of Use Asset From Lease Modification
ReductionOfLeaseLiabilityAndRightOfUseAssetFromLeaseModification
0
lqda Reduction Of Lease Liability And Right Of Use Asset From Lease Modification
ReductionOfLeaseLiabilityAndRightOfUseAssetFromLeaseModification
39000
lqda Increase In Indemnification Asset Through Accounts Payable
IncreaseInIndemnificationAssetThroughAccountsPayable
231000
lqda Increase In Indemnification Asset Through Accounts Payable
IncreaseInIndemnificationAssetThroughAccountsPayable
2956000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1. Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Description of the Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Liquidia Corporation (“Liquidia” or the “Company”) is a biopharmaceutical company focused on the development, manufacture, and commercialization of products that address unmet patient needs, with current focus directed towards the treatment of pulmonary hypertension (“PH”). Liquidia Corporation operates through its wholly owned operating 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','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company generates revenue primarily pursuant to a promotion agreement between Liquidia PAH and Sandoz Inc. (“Sandoz”), dated as of August 1, 2018, as amended (the “Promotion Agreement”), sharing profit derived from the sale of the first-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 targeted sales force calling on physicians and hospital pharmacies involved in the treatment of pulmonary arterial hypertension (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 base to expand from for the launch of YUTREPIA upon final approval, leveraging existing relationships and further validating its reputation as a company committed to supporting PAH patients.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 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. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company’s lead product candidate, for which it holds worldwide commercial rights, is YUTREPIA for the treatment of PAH. YUTREPIA 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’s New Drug Application (NDA) for YUTREPIA was tentatively approved by the FDA in November 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Risks and Uncertainties</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:12pt;margin:0pt;">The Company is subject to risks and uncertainties common to companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on third parties and key personnel, protection of proprietary technology, compliance with government regulations, and the ability to secure additional capital to fund operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The current global macro-economic environment is volatile, which may result in supply chain constraints and elevated rates of inflation. In addition, the Company operates in a dynamic and highly competitive industry and believes that changes in any of the following areas could have a material adverse effect on the Company’s future financial position, results of operations, or cash flows: the ability to obtain future financing; advances and trends in new technologies and industry standards; results of clinical trials; regulatory approval and market acceptance of the Company’s products; development of sales channels; certain strategic relationships; litigation or claims against the Company related to intellectual property, product, regulatory, or other matters; and the Company’s ability to attract and retain employees necessary to support its growth.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;background:#ffffff;margin:0pt;"><span style="font-size:13.5pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">Product candidates developed by the Company require approval from the FDA and/or other international regulatory agencies prior to commercial sales. There can be no assurance that the Company's product candidates will receive the necessary approvals. If the Company is denied approval, approval is delayed, or the Company is unable to maintain approval, it could have a material adverse impact on the Company.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The Company relies on single source manufacturers and suppliers for the supply of its product candidates. This adds to the manufacturing risks faced by the Company, which could be left without backup facilities in the event of any failure by a supplier. Any disruption from these manufacturers or suppliers could have a negative impact on the Company’s business, financial position and results of operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;"><span style="font-size:13.5pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The COVID-19 pandemic continues to adversely affect global economies, financial markets and the overall environment.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;">The Company does not believe its financial results were materially affected by the COVID-19 pandemic during the six months ended June 30, 2022.  However, the extent to which the COVID-19 pandemic may affect the Company’s future financial results and operations will depend on future developments which are highly uncertain and cannot be predicted, including new information which may emerge concerning the pandemic, the availability and effectiveness of vaccines and treatment options, and current or future domestic and international actions to contain it and treat it. The Company continues to evaluate the potential impact of the COVID-19 pandemic on its business, including the potential impact of the pandemic on the potential commercial launch of YUTREIPA and any potential supply-chain challenges.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;background:#ffffff;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Liquidity</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The Company expects to incur significant expenses and operating losses for the foreseeable future as it seeks regulatory approval and pursues commercialization of any approved product candidates. In addition, if the Company obtains marketing approval for any of its current or future product candidates, it would incur significant commercialization expenses related to product manufacturing, marketing, sales and distribution. These efforts require significant amounts of 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. If the Company determines it requires but 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','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">In accordance with Accounting Standards Update (“ASU”) 2014-15,<i style="font-style:italic;"> Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40)</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 one year after the date that the condensed consolidated financial statements are issued. The Company has financed its 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 loss of $25.4 million for the six months ended June 30, 2022 and the Company had an accumulated deficit of $335.0 million as of June 30, 2022. Although the Company expects to continue to generate operating losses for the foreseeable future, management anticipates that cash and cash equivalents will be sufficient to fund operations and remain in compliance with financial covenants into 2024. The Company has based these estimates on assumptions that may differ from actual results, and it could use its available resources sooner than expected.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="background:#ffffff;">The Company expects that its cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least twelve months from the issuance date of these unaudited interim condensed consolidated financial statements</span><span style="background:#ffffff;">.</span></p>
us-gaap Net Income Loss
NetIncomeLoss
-25400000
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-335000000.0
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 0pt 12pt 0pt;"><span style="background:#ffffff;">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. The Company evaluates its estimates on an ongoing basis, including those related to the valuation of stock-based awards and certain accruals, and makes changes to the estimates and related disclosures as experience develops or new information becomes known. These estimates are based on historical experience and various other assumptions believed reasonable under the circumstances. Actual results will most likely differ from those estimates.</span></p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2021Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13583000
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4219000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5017000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
400000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
400000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
800000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
900000
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7982454
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5556597
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7916758
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5375250
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18548000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18600000
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
14329000
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1917000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3157000
CY2022Q2 lqda Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
1146000
CY2021Q4 lqda Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
344000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1247000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1670000
CY2022Q2 lqda Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
4310000
CY2021Q4 lqda Accrued Expenses And Other Liabilities Current
AccruedExpensesAndOtherLiabilitiesCurrent
5171000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1647000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
953000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5832
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1698
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.19
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.08
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5598009
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.19
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
3611677
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.29
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
143891
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
4.15
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1203916
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.73
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
7861879
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.46
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5447000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3075103
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.12
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y8M12D
CY2022Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3541000
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
7149487
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.44
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y8M12D
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
5131000
CY2022Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y1M6D
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.103
CY2022Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.065
CY2021Q1 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.075
CY2021Q1 us-gaap Lessee Finance Lease Discount Rate
LesseeFinanceLeaseDiscountRate
0.065
CY2022Q2 us-gaap Lease Cost
LeaseCost
240000
CY2021Q2 us-gaap Lease Cost
LeaseCost
251000
us-gaap Lease Cost
LeaseCost
482000
us-gaap Lease Cost
LeaseCost
594000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
625000
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
165000
CY2022Q2 lqda Lease Liability Payments Due Remainder Of Fiscal Year
LeaseLiabilityPaymentsDueRemainderOfFiscalYear
790000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1283000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
195000
CY2022Q2 lqda Lease Liability Payments Due Next Twelve Months
LeaseLiabilityPaymentsDueNextTwelveMonths
1478000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1317000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
115000
CY2022Q2 lqda Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
1432000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1356000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
64000
CY2022Q2 lqda Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
1420000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1158000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0
CY2022Q2 lqda Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
1158000
CY2022Q2 lqda Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5739000
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
539000
CY2022Q2 lqda Lease Liability Payments Due Total
LeaseLiabilityPaymentsDueTotal
6278000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1107000
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
36000
CY2022Q2 lqda Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
1143000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4632000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
503000
CY2022Q2 lqda Lease Liability
LeaseLiability
5135000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
19606000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
10410000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
10000000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
10000000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
20000000
CY2022Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
394000
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
19606000

Files In Submission

Name View Source Status
0001558370-22-013274-index-headers.html Edgar Link pending
0001558370-22-013274-index.html Edgar Link pending
0001558370-22-013274.txt Edgar Link pending
0001558370-22-013274-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
lqda-20220630.xsd Edgar Link pending
lqda-20220630x10q.htm Edgar Link pending
lqda-20220630x10q001.jpg Edgar Link pending
lqda-20220630x10q002.jpg Edgar Link pending
lqda-20220630xex31d1.htm Edgar Link pending
lqda-20220630xex31d2.htm Edgar Link pending
lqda-20220630xex32d1.htm Edgar Link pending
lqda-20220630xex32d2.htm Edgar Link pending
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
lqda-20220630_cal.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
lqda-20220630_def.xml Edgar Link unprocessable
lqda-20220630_pre.xml Edgar Link unprocessable
lqda-20220630x10q_htm.xml Edgar Link completed
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
lqda-20220630_lab.xml Edgar Link unprocessable