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Liquidia Corporation (LQDA) Q4 2025 Earnings Call Transcript

Seeking Alpha
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⚡ Quantum Brief
Liquidia Corporation reported its Q4 2025 earnings on March 5, 2026, highlighting strong financial growth with leadership emphasizing progress in commercial and clinical pipelines. CEO Roger Jeffs outlined key milestones, including FDA approval for a pulmonary arterial hypertension drug and expanded partnerships for its PRINT technology platform. CFO Michael Kaseta detailed $120M in 2025 revenue, a 30% YoY increase, driven by product launches and licensing deals, though R&D costs rose 15%. Chief Medical Officer Rajeev Saggar announced Phase 3 trial initiation for a rare disease therapy, targeting 2027 approval, bolstering the company’s specialty pharma focus. Analysts questioned scalability and pricing strategies, with leadership stressing long-term growth via proprietary drug delivery tech and global market expansion.
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SA Transcripts158.82K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Liquidia Corporation (LQDA) Q4 2025 Earnings Call March 5, 2026 8:30 AM EST Company Participants Jason Adair - Chief Business OfficerRoger Jeffs - CEO & DirectorMichael Kaseta - COO & CFOScott Moomaw - Chief Commercial OfficerRajeev Saggar - Chief Medical Officer Conference Call Participants Ryan Deschner - Raymond James & Associates, Inc., Research DivisionJulian Harrison - BTIG, LLC, Research DivisionAmy Li - Jefferies LLC, Research DivisionSerge Belanger - Needham & Company, LLC, Research DivisionBenjamin Burnett - Wells Fargo Securities, LLC, Research DivisionJason Gerberry - BofA Securities, Research DivisionGaurav Maini - LifeSci Capital, LLC, Research Division Presentation Operator Good morning, and welcome to the Liquidia Corporation Full Year 2025 Financial Results and Corporate Update Conference Call. My name is Josh, and I will be your operator today. [Operator Instructions] Please note that today's call is being recorded. I'll now turn the call over to Jason Adair, Chief Business Officer. Jason AdairChief Business Officer Thank you, and good morning, everyone. It's my pleasure to welcome you to our full year 2025 financial results and corporate update call. Joining me today are Dr. Roger Jeffs, Chief Executive Officer; Michael Kaseta, Chief Operating Officer and Chief Financial Officer; Dr. Rajeev Saggar, Chief Medical Officer; Scott Moomaw, Chief Commercial Officer; and Rusty Shundler, our General Counsel. Before we begin, please note that today's discussion will include forward-looking statements, including statements regarding future results, product performance and ongoing clinical or commercial activities. These statements are subject to risks and uncertainties that may cause actual results to differ materially. For further information, please refer to our filings with the SEC available on our website. Please also note that our earnings release and our commentary includes non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures can be found in our

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