Liquidia Corp. Files Q3 2024 10-Q

TL;DR

LQDA Q3 10-Q filed. Shows financial updates & past offerings. #investing

AI Summary

Liquidia Corp. filed its 10-Q for the period ending September 30, 2024. The company's fiscal year ends on December 31st. Key financial data points like retained earnings and additional paid-in capital are reported as of various dates throughout 2023 and 2024. The filing also references past events such as an underwritten public offering on December 12, 2023, and a private placement on January 4, 2024.

Why It Matters

This filing provides investors with an update on Liquidia Corp.'s financial position and significant corporate actions during the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Liquidia Corp. faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Latest financial snapshot)
• 2023-12-31 — Previous Year End (Comparison point for financial performance)

Key Players & Entities

• Liquidia Corp. (company) — Filer of the 10-Q
• September 30, 2024 (date) — End of reporting period
• December 31 (date) — Fiscal year end
• December 12, 2023 (date) — Date of underwritten public offering
• January 4, 2024 (date) — Date of private placement

FAQ

Key Financial Figures

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

Filing Documents

• lqda-20240930x10q.htm (10-Q) — 1909KB
• lqda-20240930xex10d4.htm (EX-10.4) — 570KB
• lqda-20240930xex10d5.htm (EX-10.5) — 71KB
• lqda-20240930xex31d1.htm (EX-31.1) — 15KB
• lqda-20240930xex31d2.htm (EX-31.2) — 15KB
• lqda-20240930xex32d1.htm (EX-32.1) — 7KB
• lqda-20240930xex32d2.htm (EX-32.2) — 7KB
• lqda-20240930x10q002.jpg (GRAPHIC) — 1KB
• lqda-20240930xex10d5001.jpg (GRAPHIC) — 1KB
• 0001558370-24-015433.txt ( ) — 8734KB
• lqda-20240930.xsd (EX-101.SCH) — 68KB
• lqda-20240930_cal.xml (EX-101.CAL) — 48KB
• lqda-20240930_def.xml (EX-101.DEF) — 190KB
• lqda-20240930_lab.xml (EX-101.LAB) — 534KB
• lqda-20240930_pre.xml (EX-101.PRE) — 361KB
• lqda-20240930x10q_htm.xml (XML) — 1345KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements (unaudited) 6 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Nine Months Ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 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 44 Item 4.

Controls and Procedures

Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 5. Other Information 89 Item 6. Exhibits 90

Signatures

Signatures 91 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 204,368 $ 83,679 Accounts receivable, net 4,202 4,061 Inventory 38 — Prepaid expenses and other current assets 5,604 2,159 Total current assets 214,212 89,899 Property, plant and equipment, net 7,784 4,480 Operating lease right-of-use assets, net 1,371 1,704 Indemnification asset, related party 7,206 6,707 Contract acquisition costs, net 7,433 7,922 Intangible asset, net 3,219 3,430 Goodwill 3,903 3,903 Other assets 7,758 287 Total assets $ 252,886 $ 118,332 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 2,298 $ 1,396 Accrued expenses and other current liabilities 17,039 13,400 Revenue interest financing payable, current 13,252 2,615 Operating and finance lease liabilities, current 1,249 1,139 Total current liabilities 33,838 18,550 Litigation finance payable 7,196 6,707 Revenue interest financing payable, noncurrent 99,892 43,418 Operating and finance lease liabilities, noncurrent 1,442 2,364 Total liabilities 142,368 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 September 30, 2024 and December 31, 2023, respectively, 84,545,409 and 68,629,575 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 85 69 Additional paid-in capital 631,556 476,322 Accumulated deficit ( 521,123 ) ( 429,098 ) Total stockholders' equity 110,518 47,293 Total liabilities and stockholders' equity $ 252,886 $ 118,332 The accompanying notes are an