The strong YUTREPIA launch and profitability trajectory support a bullish outlook, but monitor the ongoing patent litigation with United Therapeutics (UT) which could disrupt sales. Next catalysts include the Phase 3 Re-Spire study for L606 and any legal rulings.
Price Chart
Executive Summary
Liquidia reported Q1 2026 revenue of $132.9M (driven by YUTREPIA sales of $129.9M) and net income of $52.9M ($0.52 diluted EPS), marking its third consecutive profitable quarter. The strong commercial launch of YUTREPIA and cash generation provide a solid foundation, though ongoing litigation with United Therapeutics remains a key overhang.
Key Financial Metrics
Key Facts
- YUTREPIA net product sales of $129.9M in Q1 2026, up from $0 in Q1 2025
- Net income of $52.9M ($0.52 diluted EPS) vs net loss of $38.4M ($0.45 loss) in Q1 2025
- Adjusted EBITDA of $71.2M; cash and equivalents increased to $222.8M from $190.7M
- Over 4,500 unique patient prescriptions and ~3,750 patients started on YUTREPIA since launch
- Income tax expense of $3.9M recognized for the first time
Financial Impact
Revenue of $132.9M and net income of $52.9M in Q1 2026 represent a dramatic turnaround from the prior-year period, driven by YUTREPIA commercialization.
Risk Factors
- Adverse outcome in YUTREPIA patent litigation could halt sales
- Dependence on single product for revenue growth
- Potential for increased competition in inhaled prostacyclin market
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291703 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 12d ago | 8-K | $33.94 $34.78 | ▲ +2.48% | ▲ +2.19% | $43.74 (+28.87%) |
Oct 13, 2026 12d ago | Insider Cluster | $33.94 $34.78 | ▲ +2.48% | ▲ +2.19% | $43.74 (+28.87%) |
Sep 30, 2026 26d ago | 8-K | $27.99 $28.64 | ▼ −2.32% | ▼ −1.58% | $43.74 (−56.27%) |
Sep 3, 2026 7w ago | 8-K | $68.63 $68.66 | ▲ +0.04% | ▲ +0.43% | $43.74 (−36.27%) |
Sep 3, 2026 7w ago | Press Release | $68.63 $68.66 | ▲ +0.04% | ▲ +0.43% | $43.74 (−36.27%) |
Aug 25, 2026 8w ago | Insider Cluster | $71.36 $69.94 | ▼ −1.99% | ▼ −2.65% | $43.74 (−38.71%) |
Aug 21, 2026 9w ago | Insider Cluster | $70.27 $70.49 | ▲ +0.31% | ▼ −0.01% | $43.74 (−37.75%) |
Aug 12, 2026 10w ago | 8-K | $78.79 $72.10 | ▼ −8.49% | ▼ −9.19% | $43.74 (−44.49%) |
Aug 12, 2026 10w ago | Press Release | $78.79 $72.10 | ▲ +8.49% | ▲ +9.19% | $43.74 (+44.49%) |
Jul 29, 2026 12w ago | Insider Cluster | $86.80 $84.11 | ▼ −3.10% | ▼ −3.82% | $43.74 (−49.61%) |
US Market Status
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