Liquidia Corp’s Chief Human Resource Officer, Sarah Krepp, reported an open-market sale of 16,261 shares of common stock at $38.00 per share. After this transaction, she directly holds 148,397 common shares. Her holdings also include various unvested RSU awards and shares acquired under the company’s employee stock purchase plan.
Liquidia Corp director Raman Singh reported an option exercise followed by a share sale. Singh exercised non-qualified stock options for 20,000 shares of Common Stock at $4.86 per share and then sold 20,000 shares on the same date at a volume-weighted average price of $36.0414.
After these transactions, Singh directly owned 38,755 shares of Common Stock, plus 18,396 restricted stock units granted on June 17, 2025, which had not vested as of this Form 4. The filing also corrects a prior administrative error by acknowledging an earlier exercise of options for 7,500 shares that had been omitted from a previous Form 4, although that earlier sale was disclosed.
Morgan Stanley Smith Barney LLC submitted a Rule 144 notice to sell common stock of LQDA. The filing lists 20,359 restricted shares with an intended sale date of 06/16/2025 and a 20,000 share stock option exercise dated 03/13/2026 (cash exercise).
The entry shows a combined figure of 40,359 shares in the excerpted rows and indicates NASDAQ as the market; the filing is routine disclosure under Rule 144.
LQDA reported an insider sale via Form 144. The filing shows Rajeev Saggar sold 21,142 shares of Common Stock on 01/12/2026 for $791,304.89. The submission also lists multiple prior restricted stock issuances with dates and share counts.
Sarah T. Krepp reported sale notices on Form 144 for common stock. The filing lists two reported dispositions: 276 shares sold on 03/02/2026 for $8,440.85 and 13,165 shares sold on 01/12/2026 for $492,740.94.
The excerpt also lists securities identified as to be sold by the issuer on 01/11/2026: Restricted Stock amounts 1,634, 7,087, and 395, and Performance Shares 7,145.
Liquidia Corp Chief Commercial Officer Moomaw Scott exercised stock options and sold shares in a planned liquidity move. He exercised options covering a total of 80,000 shares of common stock at exercise prices of $2.54, $2.97, and $3.40 per share, converting them into common shares.
On the same date, he sold 80,000 shares of common stock at a volume-weighted average price of $35.3228 per share, with individual trade prices ranging from $35.01 to $35.75. The sale was made under a pre-arranged Rule 10b5-1 trading plan adopted on November 7, 2025, indicating the transactions were scheduled in advance.
Following these transactions, Moomaw Scott directly owns 188,954 shares of Liquidia common stock and also holds multiple unvested restricted stock units that continue to tie part of his compensation to the company’s future share performance.
Morgan Stanley Smith Barney LLC filed a Rule 144 notice reporting sales and planned transfers of Common stock related to employee plans and option exercises. The filing lists planned transfers of 97,000 shares by exercise on 03/09/2026, 1,314 shares from the Employee Stock Purchase Plan (as of 08/31/2024), and 1,686 restricted stock units (as of 04/11/2025.
The filing also reports recent open-market dispositions by Scott Moomaw: 827 shares sold on 03/02/2026 for $25,289.66 and 20,533 shares sold on 01/12/2026 for $768,550.19.
Liquidia Corporation filed a shelf registration on Form S-3 to permit the sale, "from time to time after the effective date," of common stock, preferred stock, debt securities, warrants and units. The prospectus describes primary offerings sold in one or more transactions and states that specific terms will be provided in prospectus supplements.
The prospectus notes the company’s commercialization of YUTREPIA and ongoing collaboration with Sandoz, and discloses pending litigation with United Therapeutics that seeks remedies including removal of YUTREPIA from the market. The company’s common stock last reported sale price was $34.38 per share on March 4, 2026.
Liquidia Corporation outlines its strategy as a biopharmaceutical company focused on pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The company markets YUTREPIA, an FDA-approved dry-powder treprostinil inhalation launched in June 2025, designed for deep-lung delivery and higher titratable doses via a low‑effort inhaler.
Liquidia also shares profits from U.S. sales of Treprostinil Injection, a fully substitutable generic version of Remodulin, through an exclusive promotion agreement with Sandoz. Its pipeline includes L606, a twice‑daily, sustained‑release liposomal treprostinil delivered by next‑generation nebulizers, now in an open‑label PAH/PH‑ILD study and a global pivotal PH‑ILD trial.
The report emphasizes the proprietary PRINT particle engineering platform, an expanding patent estate protecting YUTREPIA into 2037, key licenses with Pharmosa, Vectura, UNC and GSK, and a concentrated commercial focus on U.S. PAH and PH‑ILD centers. As of June 30, 2025, non‑affiliate market value was $847.0 million, and 88,114,429 common shares were outstanding as of February 17, 2026.
Liquidia Corporation reported a transformative 2025 driven by the U.S. launch of YUTREPIA. Product sales, net, reached $148.3 million for the year, contributing to total revenue of $158.3 million compared with $14.0 million in 2024. In fourth quarter 2025 the company generated net income of $14.6 million and non-GAAP adjusted EBITDA of $27.3 million, marking a second consecutive profitable quarter.
For full year 2025, Liquidia recorded a net loss of $68.9 million, an improvement from a $128.3 million loss in 2024. Cash and cash equivalents were $190.7 million as of December 31, 2025, up from $176.5 million a year earlier, while total assets increased to $327.9 million. Research and development expenses fell 18% to $39.3 million, as efforts shifted toward commercialization, while selling, general and administrative expenses nearly doubled to $157.2 million to support the YUTREPIA launch and related legal costs.