Liquidia Corp. 10-Q: Assets $76.4M, Liabilities $68.6M

TL;DR

Liquidia's 10-Q shows $76.4M assets vs $68.6M liabilities as of June 30, 2024. Recent stock offerings in late 2023/early 2024.

AI Summary

Liquidia Corp. filed its 10-Q for the period ending June 30, 2024, reporting total assets of $76.4 million and total liabilities of $68.6 million. The company's fiscal year ends on December 31st. Key events noted include an underwritten public offering on December 12, 2023, and a private placement on January 4, 2024.

Why It Matters

This filing provides a snapshot of Liquidia Corp.'s financial health and recent capital-raising activities, crucial for investors assessing the company's stability and growth potential.

Risk Assessment

Risk Level: medium — The company has more liabilities than assets, indicating potential financial strain, and recent capital raises suggest a need for funding.

Key Numbers

• $76.4B — Total Assets (As of June 30, 2024)
• $68.6B — Total Liabilities (As of June 30, 2024)

Key Players & Entities

• Liquidia Corp. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• $76,414,548 (dollar_amount) — Total assets
• $68,629,575 (dollar_amount) — Total liabilities
• 2023-12-12 (date) — Date of Underwritten Public Offering
• 2024-01-04 (date) — Date of Private Placement
• Paul B. Manning (person) — Member associated with Underwritten Public Offering
• Caligan Partners LP (company) — Member associated with Underwritten Public Offering

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value per share LQDA The Nasdaq

Filing Documents

• lqda-20240630x10q.htm (10-Q) — 1802KB
• lqda-20240630xex31d1.htm (EX-31.1) — 15KB
• lqda-20240630xex31d2.htm (EX-31.2) — 15KB
• lqda-20240630xex32d1.htm (EX-32.1) — 7KB
• lqda-20240630xex32d2.htm (EX-32.2) — 7KB
• lqda-20240630x10q002.jpg (GRAPHIC) — 1KB
• 0001558370-24-011206.txt ( ) — 7741KB
• lqda-20240630.xsd (EX-101.SCH) — 70KB
• lqda-20240630_cal.xml (EX-101.CAL) — 47KB
• lqda-20240630_def.xml (EX-101.DEF) — 188KB
• lqda-20240630_lab.xml (EX-101.LAB) — 520KB
• lqda-20240630_pre.xml (EX-101.PRE) — 355KB
• lqda-20240630x10q_htm.xml (XML) — 1290KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements (unaudited) 6 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 10 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 5. Other Information 88 Item 6. Exhibits 88

Signatures

Signatures 89 This Quarterly Report on Form 10-Q, or this Quarterly Report, includes our trademarks, trade names and service marks, such as Liquidia, the Liquidia logo, YUTREPIA and PRINT, or P article R eplication I n N on-wetting T emplates, which are protected under applicable intellectual property laws and are the property of Liquidia Technologies, Inc. This Quarterly Report also contains trademarks, trade names and service marks of other companies, which are the property of their respective owners. Solely for convenience, trademarks, trade names and service marks referred to in this Quarterly Report may appear without the , or SM symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks, trade names and service marks. We do not intend our use or display of other parties' trademarks, trade names or service marks to imply, and such use or display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by, these other parties. 2 Table of Contents Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements. All statements other than statements of historical facts contained in this Quarterly Report may be forward-looking statements. The forward-looking statements are contained principally in the sections entitled "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations," but are also contained elsewhere in this Quarterly Report. In some cases, you can identify forward-looking statements by terms such as "may," "might," "will," "should," "expects," "plans," "anticipates," "could," "would," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. F

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Financial Statements

Item 1. Condensed Financial Statements Liquidia Corporation Condensed Consolidated Balance Sheets (unaudited) (in thousands, except share and per share data) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 133,093 $ 83,679 Accounts receivable, net 3,249 4,061 Inventory 7,212 — Prepaid expenses and other current assets 3,707 2,159 Total current assets 147,261 89,899 Property, plant and equipment, net 6,387 4,480 Operating lease right-of-use assets, net 1,471 1,704 Indemnification asset, related party 7,194 6,707 Contract acquisition costs, net 7,621 7,922 Intangible asset, net 3,300 3,430 Goodwill 3,903 3,903 Other assets 224 287 Total assets $ 177,361 $ 118,332 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 5,741 $ 1,396 Accrued expenses and other current liabilities 13,100 13,400 Revenue interest financing payable, current 4,154 2,615 Operating and finance lease liabilities, current 1,225 1,139 Total current liabilities 24,220 18,550 Litigation finance payable 6,929 6,707 Revenue interest financing payable, noncurrent 81,764 43,418 Operating and finance lease liabilities, noncurrent 1,726 2,364 Total liabilities 114,639 71,039 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock — 10,000,000 shares authorized, none outstanding — — Common stock — $ 0.001 par value, 115,000,000 and 100,000,000 shares authorized as of June 30, 2024 and December 31, 2023 , respectively, 76,414,548 and 68,629,575 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 76 69 Additional paid-in capital 560,614 476,322 Accumulated deficit ( 497,968 ) ( 429,098 ) Total stockholders' equity 62,722 47,293 Total liabilities and stockholders' equity $ 177,361 $ 118,332 The accompanying notes are an integral part