Welcome to our dedicated page for Liquidia SEC filings (Ticker: LQDA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Liquidia Corp insider Caligan Partners and David Johnson reported internal fund transactions in the company’s common stock. On May 19, 2026, Caligan-managed entities recorded both an open-market purchase and an open-market sale of 5,300 shares each at $59.98 per share.
A footnote explains this represents a transaction between Caligan Funds, indicating a reallocation among affiliated investment vehicles rather than a directional change in overall exposure. After these trades, Caligan-related entities held 8,133,651 Liquidia shares indirectly, while David Johnson also held 18,396 shares directly.
Liquidia Corp CEO Roger Jeffs reported open-market stock sales executed under a pre-arranged trading plan. Entities associated with him sold a total of 75,000 shares of Liquidia common stock in three transactions on May 18–20, 2026, at volume-weighted average prices of about $56.77, $58.65, and $61.30 per share.
The shares were held indirectly through a living trust and Serendipity BioPharma LLC, where Jeffs serves as trustee or manager with voting and dispositive power. After these trades, his indirect holdings stood at 1,123,095 shares, and he also continues to hold a substantial direct position and multiple grants of unvested restricted stock units.
Serendipity Biopharma LLC and affiliated parties reported multiple Rule 144/10b5-1 dispositions of Common Stock. The excerpt lists scheduled 10b5-1 sales and Rule 144 sales executed between 04/09/2026 and 05/19/2026, with individual transactions commonly of 25,000 shares and reported dollar amounts per trade. The filings identify a broker-dealer intermediary as Morgan Stanley Smith Barney LLC.
Liquidia Corp Chief Executive Officer Roger Jeffs reported open-market sales totaling 75,000 shares of common stock over three days. The transactions, executed indirectly through entities he controls, occurred on May 13–15, 2026 at volume-weighted average prices of $56.2851, $58.6226 and $57.0429 per share.
Following these sales, he continues to hold 1,198,095 shares indirectly and 1,137,508 shares directly, along with multiple blocks of unvested restricted stock units granted between 2023 and 2026. The filing notes the trades were made under a pre-arranged Rule 10b5-1 plan adopted on November 5, 2025.
Form 144 filing: Morgan Stanley Smith Barney LLC submitted a notice for the proposed sale of 100,000 shares of common stock of LQDA on 05/14/2026, showing an aggregate value of $5,759,000 and 88,928,099 shares outstanding as of 05/14/2026.
The filing lists multiple completed 10b5-1 sales by Serendipity Biopharma LLC on dates in April–May 2026 (example: 25,000 shares on 05/13/2026 for $1,407,127.50) and a sale by Roger Jeffs on 04/13/2026 for 32,744 shares ($1,256,387.28). The notice reports planned or recent resale activity under an established trading plan.
Liquidia Corp director Stephen M. Bloch filed a Form 4 reporting sales of Liquidia common stock by Canaan VIII L.P. On May 11, 2026, entities affiliated with Canaan sold an aggregate of 318,893 shares of Liquidia common stock in a series of open-market transactions at weighted average prices generally between the high $40s and low $50s per share, as detailed in multiple price ranges.
The securities are held directly by Canaan VIII L.P., whose general partner is Canaan Partners VIII LLC. According to the disclosure, investment and voting decisions for these securities are made collectively by the managers of Canaan Partners VIII LLC, and Bloch disclaims beneficial ownership except to the extent of any pecuniary interest through his limited liability company interests. The filing also notes that Canaan has a communications-screen policy for issuer-related securities matters and states that Bloch did not participate in this investment decision. Following these sales, the filing shows 1,870,042 shares held indirectly through the Canaan entities and 65,712 shares held directly.
Liquidia Corp director and CEO Roger Jeffs reported open-market sales of Liquidia common stock through an affiliated entity. Serendipity BioPharma LLC, an entity where he has sole voting and dispositive power, sold a total of 75,000 shares across three days at volume-weighted average prices of approximately $42.14, $41.50, and $54.04 per share.
These transactions were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted on November 5, 2025. Following the last sale, Serendipity BioPharma LLC reported holding 1,273,095 Liquidia common shares indirectly, and Jeffs also holds additional direct shares, trust holdings, and multiple tranches of unvested restricted stock units.
LQDA reports a Form 144 notice for proposed sales of 318,893 shares of common stock. The filing lists a broker-dealer UBS Financial Services Inc and shows prior sales by Canaan VIII LP of 7,684 shares on 03/26/2026 and 62,550 shares on 03/27/2026. Shares outstanding are listed as 88,114,429 as of 05/11/2026.
Liquidia Corporation reported a sharp turnaround for the quarter ended March 31, 2026, driven by commercialization of YUTREPIA. Total revenue rose to $132.9M from $3.1M a year earlier, including $129.9M of net product sales and $3.0M of service revenue from the Sandoz promotion agreement.
Income from operations reached $61.5M versus a prior-period operating loss, and net income was $52.9M, or $0.60 basic and $0.52 diluted per share. Cash and cash equivalents were $222.8M, with total assets of $401.5M and long-term debt of $177.9M under the HCR revenue interest financing, which requires maintaining at least $15.0M in cash.
Management highlights ongoing investment in R&D, including L606 development, and notes significant gross-to-net deductions tied to market access programs. The company remains exposed to litigation risk, particularly patent cases brought by United Therapeutics that could affect YUTREPIA’s commercialization, though no outcomes are yet determined.
Liquidia Corporation reported a sharp turnaround in first quarter 2026 results driven by YUTREPIA sales. Total revenue reached $132.9 million for the three months ended March 31, 2026, up from $3.1 million a year earlier, as product sales grew to $129.9 million from zero following YUTREPIA’s 2025 U.S. launch.
The company generated net income of $52.9 million, or $0.60 per basic share and $0.52 per diluted share, compared with a net loss of $38.4 million in the prior-year quarter. Adjusted EBITDA was $71.2 million. Cash and cash equivalents increased to $222.8 million as of March 31, 2026, from $190.7 million as of December 31, 2025, while Liquidia continued to invest in R&D and commercialization and highlighted ongoing patent litigation that could affect YUTREPIA’s commercialization.