Liquidia Sells Yutafentanyl Rights for $10M

TL;DR

Liquidia sold U.S. rights to Yutafentanyl for $10M upfront, focusing on its main business.

AI Summary

Liquidia Corporation announced on May 29, 2024, that it has entered into a definitive agreement to sell its U.S. rights to Yutafentanyl to an undisclosed buyer for an upfront payment of $10 million. The agreement also includes potential milestone payments and royalties.

Why It Matters

This divestiture allows Liquidia to focus on its core PAH franchise and potentially provides capital for future development or strategic initiatives.

Risk Assessment

Risk Level: medium — The transaction involves an undisclosed buyer and potential future milestone payments, introducing some uncertainty.

Key Numbers

• $10.0M — Upfront Payment (Received for U.S. rights to Yutafentanyl)

Key Players & Entities

• Liquidia Corporation (company) — Registrant
• Yutafentanyl (drug) — Product being sold
• $10 million (dollar_amount) — Upfront payment for U.S. rights
• May 29, 2024 (date) — Date of the agreement

FAQ

Filing Documents

• tm2416192d1_8k.htm (8-K) — 25KB
• 0001104659-24-067273.txt ( ) — 194KB
• lqda-20240529.xsd (EX-101.SCH) — 3KB
• lqda-20240529_lab.xml (EX-101.LAB) — 33KB
• lqda-20240529_pre.xml (EX-101.PRE) — 22KB
• tm2416192d1_8k_htm.xml (XML) — 4KB

01 Other Events

Item 8.01 Other Events. On May 29, 2024, United Therapeutics Corporation ("United Therapeutics"), filed a complaint (the "Complaint") in the Superior Court in Durham County, North Carolina, against Robert Roscigno ("Dr. Roscigno"), a former employee of United Therapeutics and Liquidia Technologies, Inc., a wholly owned subsidiary of Liquidia Corporation, a Delaware corporation (the "Company") and named Liquidia Technologies, Inc. as a defendant. The Complaint alleged that Dr. Roscigno breached prior employment agreements with United Therapeutics by failing to assign to United Therapeutics his interest in patents obtained by the Company that relied upon or benefitted from certain inventions, discoveries, materials, authorship, derivatives and results developed by Dr. Roscigno while he was employed by United Therapeutics. Specifically, United Therapeutics alleged that Dr. Roscigno misappropriated certain intellectual property of United Therapeutics which led to the development of the Company's product candidate YUTREPIA (treprostinil) inhalation powder (formerly known as LIQ861) and which was designed to compete with United Therapeutics' product Tyvaso . The Complaint also sought declaratory judgement such that all right, title and interest in and to any patentable or unpatentable inventions, discoveries, and ideas made or conceived by Dr. Roscigno while employed by Liquidia Technologies, Inc. should be assigned and transferred to United Therapeutics because they involved the use of United Therapeutics' confidential information. The Company intends to vigorously defend itself against these allegations.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit 104 Cover Page Interactive Data File (the cover page tags are embedded within the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. May 31, 2024 Liquidia Corporation By: /s/ Michael Kaseta Name: Michael Kaseta Title: Chief Financial Officer and Chief Operating Officer