---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-061835"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2025-06-24T23:59:59+00:00"
generated_at: "2026-05-18T22:52:49.463566+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Liquidia receives $50M from HCR after first commercial YUTREPIA sale and court win

## Summary
- Received $50M from HCR after court denied preliminary injunction and first commercial sale of YUTREPIA.
- Total funding under HCR agreement now $175M of $200M potential; $25M more available if net sales exceed $100M by June 30, 2026.
- Payments to HCR capped at 175% of amounts funded; true-up due if IRR falls below 13% for this $50M tranche.
- CFO says proceeds will accelerate launch execution, clinical pipeline, and manufacturing build-out.

## SEC filing metadata
- accession: 0001104659-25-061835
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2025-06-24T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465925061835/0001104659-25-061835-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465925061835/tm2518664d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-061835
- JSON: https://secwatch.observer/filing/0001104659-25-061835.json
- Plain text: https://secwatch.observer/filing/0001104659-25-061835.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.