NASDAQ$LQDA

Liquidia Corporation · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Liquidia reported full year 2022 financial results and provided a corporate update.

Liquidia Corporation reported its full year 2022 financial results, with a focus on advancements in their legal and patent landscape, progress towards potential YUTREPIA launch, and strategic financial initiatives. The company highlighted key employee hires, clarified legal pathways with favorable patent rulings, and increased commitment to the Treprostinil Injection market through new collaborations. They fortified their financial position through strategic financing, ensuring they are well-positioned for the potential launch of YUTREPIA.

  • Hired key employees in preparation for potential YUTREPIA launch.
  • Demonstrated favorable legal outcomes regarding key patents related to YUTREPIA.
  • Increased long-term commitment to Treprostinil Injection market through collaborations.
  • Fortified financial position through strategic financing initiatives.

Headline financials

Total Revenue

$5.36M

Previous: $3.22M+66.7%
EPS (adj)

-$0.09

Previous: -$0.23+60.9%
Capital Expenditures

$491K

Previous: $20K+2357.5%
Free Cash Flow

-$5.09M

Previous: -$7.58M+32.8%
Net Income

-$41M

Previous: -$34.6M-18.5%
Operating Income

-$6.5M

Previous: -$40.7M+84.0%
Gross Profit

$4.67M

Previous: $2.49M+87.5%
Cash & Equivalents

$93.3M

Previous: $57.5M+62.3%
Total Assets

$129M

Previous: $93.7M+37.8%
Stock-Based Comp

$1.82M

Previous: $3.82M-52.5%

Revenue & EPS history

Liquidia · Revenue · Quarterly

$5.36M

Q4 2022+66.7%vs Q4 2021
Beat estimate in 7 of 15 quarters(47%)
ActualEstimate

Revenue by segment

Liquidia · $3.7M total across 1 segment · Q3 2023

  • Promotion Agreement
    $3.7M+15.6%

Forward guidance

Liquidia is focused on the potential commercialization of YUTREPIA, navigating legal challenges, and expanding access to Treprostinil Injection.

Tailwinds

  • Potential FDA approval of YUTREPIA for PAH and PH-ILD.
  • Ongoing open-label extension study demonstrating YUTREPIA's dosing flexibility and durability.
  • Strategic partnerships to advance a new subcutaneous infusion pump for Treprostinil Injection.
  • Favorable legal rulings clarifying the path to potential YUTREPIA approval.
  • Extended promotion agreement for Treprostinil Injection until December 31, 2032.

Headwinds

  • Ongoing appeals in patent litigation could delay YUTREPIA's approval.
  • Uncertainty regarding the timing of legal resolution.
  • Dependence on the existing CADD-MS 3 system for subcutaneous delivery of Treprostinil Injection.
  • Potential for increased competition in the PAH treatment market.
  • Risks associated with the development and commercialization of new pharmaceutical products.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+3.4%

Avg return

Earnings day

+5.4%

Avg return

5 days after

+1.7%

Avg return

30 days after

60%

18 / 30 earnings

Positive

+31.8%

Q2 2022

Best reaction

-13.3%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+25.4%+34.5%
Q4 2025+0.4%+12.9%+9.6%
Q3 2025+8.8%+7.1%+38.5%
Q1 2025-1.0%+3.0%+16.8%
Q4 2024+1.2%+6.2%-6.9%
Q3 2024-5.6%-7.6%+2.7%
Q2 2024+2.9%+10.4%-17.7%
Q1 2024-0.8%+5.4%+10.4%
Q4 2023+9.6%+11.3%-0.2%
Q3 2023-1.0%-4.4%+9.8%
Q2 2023-6.3%-8.9%-7.5%
Q1 2023+5.0%+7.8%+26.1%
Q4 2022+13.5%+13.2%+6.3%
Q3 2022+0.8%-0.4%+14.6%
Q2 2022+31.8%+34.5%+9.9%
Q1 2022+7.7%+21.9%-17.0%
Q4 2021+11.2%+9.7%-17.8%
Q3 2021+9.9%+9.7%+3.1%
Q2 2021-0.8%+11.8%+16.4%
Q1 2021-0.7%+0.0%-0.7%
Q4 2020-7.4%-6.6%+2.2%
Q3 2020+0.7%-12.7%-36.9%
Q2 2020-13.3%-8.5%-23.3%
Q1 2020+8.0%+8.7%+13.4%
Q4 2019-1.5%+1.7%+54.5%
Q3 2019+5.2%+0.6%+6.4%
Q2 2019+6.4%-0.7%-40.6%
Q1 2019-3.0%-0.4%+2.6%
Q4 2018+3.0%+3.1%-43.8%
Q3 2018-9.2%-1.3%+19.4%
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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