---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-105199"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:56:05.386297+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Liquidia Q3 2025: first YUTREPIA sales of $51.7M, achieves profitability, net loss narrows to $3.5M

## Summary
- Net product sales of YUTREPIA $51.7M in first full quarter post-launch; operating income of $1.7M, positive adjusted EBITDA $10.1M.
- Net loss narrowed to $3.5M ($0.04 loss per share) from $31.0M ($0.40 loss per share) in Q3 2024.
- More than 2,000 unique patient prescriptions and 1,500 patient starts to date, supported by 600+ prescribers.
- Cash and equivalents $157.5M at Sept 30, 2025; R&D down 21% to $9.3M; SG&A up 98% to $40.1M reflecting commercialization.

## SEC filing metadata
- accession: 0001104659-25-105199
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465925105199/0001104659-25-105199-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465925105199/tm2530004d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-105199
- JSON: https://secwatch.observer/filing/0001104659-25-105199.json
- Plain text: https://secwatch.observer/filing/0001104659-25-105199.txt

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