Liquidia Q1 net loss $11.7M ($0.18/shr); cash $94.4M; YUTREPIA legal appeals advanced

Liquidia Corp

2023-Q1 EPS reported -$0.18 revenue$4,493,000

Cash $94.4M at March 31, 2023; received $31.8M net from HCRx financing, repaying $22.2M SVB debt.
Revenue $4.5M (up $1.0M YoY) from Promotion Agreement; cost of revenue $0.7M.
R&D $5.3M (+12% YoY); G&A $7.8M (-38% YoY on lower legal fees).
Oral arguments presented May 3 to Federal Circuit in Hatch-Waxman appeal; PTAB appeal also underway.
HCRx revenue interest financing provides up to $100M; $32.5M funded to date with tiered royalty 0.36%-10%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Liquidia Corp reported Q1 2023 results: revenue $4.5 million, net income -$11.7 million, EPS -$0.18.

Period: Q1 2023
Revenue: $4.5 million
Net income: -$11.7 million
EPS: -$0.18
Result: reported results

Exact text from the filing

Revenue was $4.5 million for the three months ended March 31, 2023, compared to $3.5 million for the three months ended March 31, 2022. Revenue related primarily to the Promotion Agreement. The increase of $1.0 million was primarily due to increased quantities and favorable gross-to-net rebate adjustments. Cost of revenue was $0.7 million for both the three months ended March 31, 2023 and 2022. Cost of revenue related to the Promotion Agreement as noted above. Research and development expenses were $5.3 million for the three months ended March 31, 2023, compared with $4.7 million for the three months ended March 31, 2022. The increase of $0.6 million or 12% was primarily due to a $0.5 million increase in consulting and personnel expenses in preparation for the potential commercialization of YUTREPIA. General and administrative expenses were $7.8 million for the three months ended March 31, 2023, compared with $12.5 million for the three months ended March 31, 2022. The decrease of $4.7

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Source: SEC EDGAR

accession 0001104659-23-056013

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