secwatch.observer — SEC 8-K summary
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Issuer:     Liquidia Corp (LQDA)
CIK:        0001819576
Form:       8-K
Filed at:   2026-03-05T23:59:59+00:00
Accession:  0001104659-26-023794
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Liquidia posts Q4 net income $14.6M; YUTREPIA sales $90.1M in Q4, $148.3M FY2025
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- Q4 net income $14.6M, positive non-GAAP adjusted EBITDA $27.3M; FY net loss $68.9M vs $128.3M in 2024.
- YUTREPIA net product sales $148.3M in FY2025 ($90.1M Q4) since launch in June 2025; no product revenue in 2024.
- Cash and equivalents $190.7M at Dec 31, 2025, up from $176.5M at Dec 31, 2024.
- Over 3,600 prescriptions and 2,900 patients started since launch; prescribers ~860, 25% have referred 5+ patients.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819576/000110465926023794/0001104659-26-023794-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819576/000110465926023794/tm267579d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-023794

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer