Liquidia (LQDA) SEC Filings, Apr-May 2026

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.

Serendipity Biopharma LLC files a Form 144 reporting proposed sales of 100,000 shares of common stock. The notice lists an aggregate intended sale price of $4,228,000.00 and an intended sale date of 05/08/2026. The excerpt shows multiple executed 10b5-1 sales from 04/09/2026 through 05/07/2026, including several 25,000-share transactions under a 10b5-1 plan.

Liquidia Corp Chief Executive Officer Roger Jeffs reported indirect open‑market sales of 75,000 shares of common stock over three days at volume-weighted average prices of $40.10, $40.78, and $42.09. The Form 4 shows these sales were effected by Serendipity BioPharma LLC, an entity for which Jeffs serves as manager with sole voting and dispositive power, under a Rule 10b5-1 trading plan adopted on November 5, 2025. After the transactions, Serendipity reports holding 1,348,095 Liquidia shares indirectly, a separate living trust reports holding 46,595 shares indirectly, and Jeffs directly holds 1,137,508 shares, while additional unvested RSU awards are also disclosed.

LQDA: An affiliate filed a Form 144 reporting proposed sales of 25,000 shares pursuant to resale notices.

The filing also lists multiple completed 10b5-1 sales by SERENDIPITY BIOPHARMA LLC and a sale by ROGER JEFFS on dates between 04/09/2026 and 05/06/2026, with individual trade proceeds shown for each transaction.

Liquidia Corp Chief Accounting Officer Dana Boyle reported an open-market sale of 1,576 shares of common stock at $37.78 per share. The transaction was executed under a pre-arranged Rule 10b5-1 plan adopted on December 15, 2023 and was made to cover taxes tied to the settlement of previously granted restricted stock units. After the sale, Boyle directly holds 175,342 shares, which include significant unvested RSU awards and shares acquired through the company’s employee stock purchase plan.