Liquidia Stock Surges as Q2 Earnings Beat Expectations

Liquidia Corporation reported a Q2 loss of 49 cents, missing the consensus of a loss of 43 cents, but sales reached $8.84 million compared to the consensus of $3.86 million. The net product revenue was $6.5 million for the three months ending June 30, 2025, after receiving FDA approval for Yutrepia. LQDA stock is up 14.13% at $24.20.

Liquidia Corporation (LQDA) reported its second-quarter 2025 financial results on Tuesday, August 12, 2025. The company experienced a loss of 49 cents per share, exceeding the consensus estimate of 43 cents, and achieved sales of $8.84 million, surpassing the consensus estimate of $3.86 million. The net product revenue for the quarter was $6.5 million [1].

The quarter was marked by significant milestones, including the successful launch of Yutrepia, a treprostinil inhalation powder for treating pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The drug received full FDA approval in May 2025 and was launched in June 2025. Within 11 weeks of approval, Yutrepia achieved over 900 unique patient prescriptions and 550 patient starts, demonstrating strong market demand [2].

The ASCENT trial, an open-label study involving 54 patients with PH-ILD, showed promising results. Patients experienced a median improvement in six-minute walk distance of 31.5 meters at Week 16, indicating the drug's efficacy. The study also reported stable tolerability, with most patients continuing treatment to Week 16 without drug-related adverse events [1].

Despite the strong sales performance, Liquidia reported a net loss of $41.6 million, up from $28.7 million in Q2 2024. The increase in losses was primarily due to higher selling, general, and administrative (SG&A) expenses, which rose to $38.8 million, up 95% from the previous year. This increase was driven by commercialization investments and litigation costs associated with the product launch [3].

The company's cash position remains strong, with $173.4 million in cash on hand, providing a solid financial foundation for continued commercialization efforts. Additionally, Liquidia received an additional $50 million from Healthcare Royalty following the first commercial sale of Yutrepia [3].

Liquidia's stock price reacted positively to the earnings report, rising 14.13% to $24.20 at publication time [1].

References:
[1] https://www.benzinga.com/markets/earnings/25/08/47070415/why-is-liquidia-stock-trading-higher-on-tuesday
[2] https://finance.yahoo.com/news/earnings-watch-liquidia-corp-lqda-132215058.html
[3] https://www.stocktitan.net/news/LQDA/liquidia-corporation-reports-second-quarter-2025-financial-results-68wiwnb4bmon.html