- Estimated YUTREPIA™ net product sales of approximately $90.1 million in the fourth quarter and $148.3 million for full-year 2025
- Received more than 2,800 unique patient prescriptions since launch in June 2025
- Generated more than $30 million of positive cash flow during the fourth quarter 2025
MORRISVILLE, N.C., Jan. 09, 2026 (GLOBE NEWSWIRE) — Liquidia Corporation (NASDAQ:LQDA), a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases, today announced preliminary, unaudited full-year 2025 net product sales of YUTREPIA™ (treprostinil) inhalation powder, as well as updates on the commercial launch and the clinical pipeline. These updates will be discussed during Liquidia’s participation in the 44th Annual J.P. Morgan Healthcare Conference, taking place January 12–14, 2026, in San Francisco. The Company plans to report fully audited financial results for the year ended December 31, 2025, in February 2026.
Dr. Roger Jeffs, Liquidia’s Chief Executive Officer, said: “2025 marked a transformational year for Liquidia, with the successful commercial launch of YUTREPIA across both pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD) patient populations. We are encouraged by the continued momentum in adoption, which reflects strong execution by our team and growing physician confidence in YUTREPIA as a differentiated and increasingly preferred inhaled prostacyclin option.
Looking ahead to 2026, we are excited to build on this foundation by advancing clinical programs to further differentiate YUTREPIA and L606, our extended-release treprostinil formulation, across current and potential future indications, like IPF, PPF, and PH-COPD, where there remains a significant unmet need. We believe YUTREPIA and L606 have the potential to establish a new standard for the use of inhaled prostacyclin as a critical therapeutic modality across these serious and progressive diseases.”
Full-Year 2025 Financial Highlights (preliminary, unaudited)
- Net product sales from YUTREPIA of approximately $90.1 million in the fourth quarter and $148.3 million for full-year 2025
- Continued strong demand with 74% quarter-over-quarter growth in net product sales
- Generated more than $30 million of positive cash flow during the fourth quarter of 2025
- Cash and cash equivalents of approximately $190.7 million as of December 31, 2025
YUTREPIA Commercial Launch Highlights (as of December 31, 2025)
- Received more than 2,800 unique patient prescriptions between regulatory approval on May 23, 2025, through December 2025
- Started treatment for more than 2,200 patients through December 2025
- Maintained a robust 85% conversion rate from prescription to patient start for prescriptions received through the end of November 2025
- Increased total number of prescribers to approximately 750 through December 2025
- Planning to expand the field sales team in 2026 to increase physician coverage in key territories
Pipeline Update
In 2026, Liquidia will continue investing in clinical development to further strengthen the medical evidence supporting YUTREPIA and L606, including:
- Completing the ASCENT open-label study evaluating 52 weeks of treatment in PH-ILD patients
- Initiating three (3) open-label, prospective, multicenter studies investigating the tolerability, titratability and exploratory efficacy of YUTREPIA in different patient groups, including:
- PAH patients with inadequate response to orally delivered Uptravi® and other prostacyclin analogs
- PH-ILD patients with inadequate response to Tyvaso® and Tyvaso DPI®
- Idiopathic pulmonary fibrosis (IPF) and progressive pulmonary fibrosis (PPF) patients who are naïve to inhaled treprostinil treatments
- Supporting an investigator-initiated trial (IIT) evaluating YUTREPIA in combination with Winrevair® to assess the potential to reduce the need for parenteral prostacyclin therapy
- Initiating a prospective, multicenter, open-label study of YUTREPIA in patients with systemic sclerosis associated Raynaud’s phenomenon
- Enrolling PH-ILD patients into Re-Spire, the global pivotal Phase III study supporting regulatory approval of L606
Webcast Information
Dr. Roger …