---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-002306"
form_type: "8-K"
ticker: "LQDA"
cik: "0001819576"
company_name: "Liquidia Corp"
filed_at: "2026-01-09T23:59:59+00:00"
generated_at: "2026-05-16T11:05:19.894745+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Liquidia reports preliminary 2025 YUTREPIA net sales of $148.3M; Q4 sales $90.1M

## Summary
- Q4 2025 YUTREPIA net sales ~$90.1M; full-year 2025 net sales ~$148.3M, up 74% QoQ.
- Over 2,800 unique patient prescriptions since June 2025 launch; 85% conversion rate (Nov 2025).
- Generated >$30M positive cash flow in Q4 2025; cash and equivalents ~$190.7M as of Dec 31.
- Plan to expand field sales team in 2026; initiated multiple clinical studies for YUTREPIA and L606.
- Preliminary results to be followed by audited full-year financials in Feb 2026.

## SEC filing metadata
- accession: 0001104659-26-002306
- form_type: 8-K
- ticker: LQDA
- cik: 0001819576
- company_name: Liquidia Corp
- filed_at: 2026-01-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819576/000110465926002306/0001104659-26-002306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819576/000110465926002306/tm262716d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-002306
- JSON: https://secwatch.observer/filing/0001104659-26-002306.json
- Plain text: https://secwatch.observer/filing/0001104659-26-002306.txt

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