BlackRock reports 11.9% stake in LIQUIDIA

BlackRock, Inc. reports beneficial ownership of 10,551,901 shares of LIQUIDIA CORP common stock, equal to 11.9% of the class as of 06/30/2026.

Rhea-AI Filing Summary

BlackRock, Inc. reports beneficial ownership of 10,551,901 shares of LIQUIDIA CORP common stock, equal to 11.9% of the class as of 06/30/2026. The filing lists 10,434,552 shares of sole voting power and 10,551,901 shares of sole dispositive power. The amendment is signed 07/08/2026.

Insights

Institutional Ownership Analyst

BlackRock reports a double-digit stake in LIQUIDIA.

BlackRock, Inc. discloses beneficial ownership of 10,551,901 shares, representing 11.9% of common stock as of 06/30/2026. The filing attributes sole voting and dispositive power to the reporting units.

Timing and cash‑flow treatment are not detailed in the excerpt; subsequent filings could clarify any changes in holdings or voting arrangements.

Regulatory Compliance Specialist

Amendment follows Schedule 13G reporting conventions for passive holders.

The amendment references SEC Release No. 34-39538 and states ownership is reported on behalf of aggregated reporting business units. It identifies Exhibit 24 (Power of Attorney) and Exhibit 99 for subsidiary information.

Filing shows classification and signatures consistent with a passive institutional filing; no transaction details are provided in the excerpt.

Key Figures

Beneficially owned shares: 10,551,901 shares Percent of class: 11.9% Sole voting power: 10,434,552 shares +2 more

5 metrics

Beneficially owned shares 10,551,901 shares as of 06/30/2026

Percent of class 11.9% percent of common stock

Sole voting power 10,434,552 shares number of shares with sole voting power

CUSIP 53635D202 LIQUIDIA CORP Common Stock

Signature date 07/08/2026 date signed by Spencer Fleming, Managing Director

Key Terms

beneficially owned, sole dispositive power, Schedule 13G/A

3 terms

beneficially owned regulatory

"reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 10551901"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G/A regulatory

"form_type: SCHEDULE 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

FAQ

What stake does BlackRock report in LIQUIDIA (LQDA)?

BlackRock reports beneficial ownership of 10,551,901 shares, representing 11.9% of common stock as of 06/30/2026. The filing shows sole voting power of 10,434,552 shares held by reporting business units.

Does the Schedule 13G/A indicate BlackRock controls LIQUIDIA?

The filing shows sole voting and dispositive power for reported shares but does not assert control language. It lists reporting business units and cites SEC Release No. 34-39538 for aggregation rules.

What date is the ownership amount tied to in the amendment?

The beneficial ownership figures are stated as of 06/30/2026. The amendment is signed on 07/08/2026, which reflects the reporting update timing in the filing excerpt.

Are any other parties named as having more than 5% ownership?

The filing states various persons have rights to dividends or proceeds but explicitly notes no single other person holds more than 5% of the outstanding common shares in the listed disclosure.

Where can I find supporting exhibits referenced in the filing?

The amendment references Exhibit 24 (Power of Attorney) and Exhibit 99 (Item 7 subsidiary identification). Those exhibits are attached to the filing for additional detail.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/08/2026 - 11:13 AM Accepted by SEC EDGAR 07/08/2026 - 11:12 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

LIQUIDIA CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

53635D202

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 53635D202

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 10,434,552.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 10,551,901.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

10,551,901.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.9 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: LIQUIDIA CORP
(b)	Address of issuer's principal executive offices: 419 DAVIS DRIVE, SUITE 100 MORRISVILLE NC 27560
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 53635D202
Item 4.	Ownership
(a)	Amount beneficially owned: 10551901
(b)	Percent of class: 11.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 10434552
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 10551901
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of LIQUIDIA CORP. No one person's interest in the common stock of LIQUIDIA CORP is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	07/08/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7