Revenue by quarter
US$ · last 8| Quarter | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $171.7M | $74.7M | 0.74 |
| Q1 FY2026 | $132.9M | $52.9M | 0.52 |
| Q4 FY2025 | $92.0M | $14.6M | 0.15 |
| Q3 FY2025 | $54.3M | -$3.5M | -0.04 |
Newest filings
All 209| Form | Filed | Accepted (ET) | |
|---|---|---|---|
| 8-K | 14 Oct 2026 | 13 Oct, 9:49 PM | |
| 8-K | 30 Sep 2026 | 30 Sep, 5:27 PM | |
| 8-K | 3 Sep 2026 | ||
| 10-Q | 12 Aug 2026 | ||
| 8-K | 12 Aug 2026 | ||
| 8-K | 17 Jun 2026 | ||
| 8-K | 8 Jun 2026 | ||
| 10-Q | 11 May 2026 |
Description
- Ticker
- LQDA-US
- Exchange
- Nasdaq
- Index
- S&P SmallCap 600
- Industry
- Pharmaceutical Preparations
- SIC division
- Manufacturing
- CIK
- 0001819576
- FIGI
- BBG001J2P905
- Share class FIGI
- BBG001V0GFD7
- Fiscal year ends
- Dec
- Filings held
- 209 since 2020
- 8-K events
- 116
- Shares short
- 12.6M, 30 Sep 2026
Financial statements
The income statement, balance sheet and cash flow by year and by quarter, line by line as the company reports them. Each column names the filing it comes from.
| Fiscal period | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Period ending | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Filed | 25 Mar 2021 | 17 Mar 2022 | 20 Mar 2023 | 13 Mar 2024 | 5 Mar 2026 | 5 Mar 2026 | 5 Mar 2026 |
| +Revenues | 8.1M | 0.7M | 13Mr | 16M | 18M | 14M | 158M |
| +Cost of revenue | – | 0.2M | 3Mr | 2.9M | 2.9M | 5.9M | – |
| +Research and development | 41M | 32M | 21Mr | 19M | 43M | 48M | 39M |
| +Selling, general and administrative | 14M | 27M | 23Mr | 32M | 45M | 82M | 157M |
| −Total costs and expenses | 55M | 60M | 47Mr | 55M | 91M | 135M | 210M |
| Income from operations | -47M | -59M | -34Mr | -39M | -73M | -121M | -51M |
| % of revenues | -580.1% | -7989.0% | -263.0% | -243.3% | -419.6% | -866.6% | -32.5% |
| +Interest income | 0.6M | 0.2M | 0Mr | 1.1M | 3.5M | 7.7M | 6.6M |
| −Interest expense | 1.4M | 0.9M | 0.8Mr | 2.3M | 6.3M | 15Mr | 24M |
| +Loss on extinguishment of debt | – | – | -0.1M | -1M | -2.3M | -4.3M | – |
| Total other expense, net | -0.8M | -0.7M | -0.8Mr | -2.2M | -5.1M | -7Mr | -18M |
| Net loss and comprehensive loss | -48M | -60M | -35Mr | -41M | -79M | -128Mr | -69M |
| Net loss per share attributable to common stockholders, basic and diluted | -2.57 | -1.76 | – | – | – | – | – |
| Weighted average common shares outstanding, basic and diluted | 19M | 34M | – | – | – | – | – |
| Net loss per common share, basic | – | -1.76 | -0.70 | -0.67 | -1.21 | -1.63 | -0.80 |
| Net loss per common share, diluted | – | -1.76 | -0.70 | -0.67 | -1.21 | -1.63 | -0.80 |
| Weighted average common shares outstanding, basic | – | 34M | 50M | 61M | 65M | 79M | 86M |
| Weighted average common shares outstanding, diluted | – | 34M | 50Mr | 61M | 65M | 79M | 86M |
Hover a figure for its source.r restated in a later filing– not reported in that period
Lines in the order and wording of the 10-K filed 5 Mar 2026. 173 of 177 subtotals add up to the company's own totals, and the balance sheet balances in 30 of 30 periods. Newest filing read: 12 Aug 2026.
Free for personal research, with credit (Data by Shikshan Nivesh) and a link. API access, bulk files and commercial use need a licence: the data licence.
Charts
Any figure or ratio in the record, by year, by quarter or on a trailing twelve months, as a value or as growth, against a peer if you like. Hover for the figures.
Revenue · quarterly · US$
Latest Jun 2026: $171.68M
Revenue = rev
Ratios
Every ratio, worked out the same way for every company, by year or on a trailing twelve months. Hover a ratio for its formula.
| Fiscal year ending | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|
| Return on common equity | – | −112.7% | −50.7% | −52.7% | −114.0% | −202.6% | −111.1% |
| Return on assets | – | −71.0% | −35.8% | −36.8% | −63.4% | −73.6% | −24.7% |
| Return on capital | – | −70.6% | −34.0% | −32.9% | −73.6% | −151.3% | −65.4% |
| Return on invested capital | – | −841.8% | −155.9% | −174.0% | 598.7% | 143.6% | 33.4% |
| Gross margin | – | 67.9% | 76.5% | 82.1% | 83.5% | 58.0% | 91.6% |
| EBITDA margin | −548.3% | −7565.9% | −219.3% | −220.4% | −407.2% | −850.9% | −31.5% |
| Operating margin | −580.1% | −7989.0% | −262.9% | −243.3% | −419.6% | −866.6% | −32.5% |
| Incremental operating margin | – | 167.3% | 208.8% | −161.4% | −2228.8% | 1372.0% | 48.4% |
| Profit margin | −589.5% | −8080.1% | −269.0% | −257.4% | −448.9% | −916.6% | −43.5% |
| Net income to common margin | −589.5% | −8080.1% | −269.0% | −257.4% | −448.9% | −916.6% | −43.5% |
What the company said with its results
The key points, guidance and management's own words from each of the last four results releases.
Key points
YUTREPIA sales grew 31% sequentially
Product sales reached $170.4 million in Q2 2026, compared to $129.9 million in Q1 2026, driven by higher volume of YUTREPIA sales.
Inhaled category expanding at rapid pace
The overall inhaled prostacyclin category grew nearly 40% since YUTREPIA's launch in June 2025, with YUTREPIA capturing an increasing share of that growth.
Cumulative prescriptions and patients reached milestones
Approximately 5,900 unique patient prescriptions and more than 5,000 patients treated cumulatively since launch in June 2025 through July 31, 2026.
Prescriber base expanded to over 1,100
Total prescriber count exceeded 1,100 since launch, with more than 30% having prescribed YUTREPIA to at least 5 patients, indicating deepening adoption.
Prescription-to-start conversion remained strong
Conversion from prescriptions to actual patient initiation remained above 85%, reflecting physician and patient confidence in treatment.
L606 Re-Spire pivotal trial enrollment active
Management began site activation and enrollment in Re-Spire, a global pivotal placebo-controlled efficacy study of L606 in PH-ILD treatment.
Expanded clinical program to 10 studies
Company progressing 10 clinical studies supporting YUTREPIA and L606 across known and new indications for inhaled treprostinil therapy.
Fourth consecutive profitable quarter recorded
Net income of $74.7 million and adjusted EBITDA of $96.3 million in Q2 2026, representing fourth consecutive quarter of increasing profitability.
Sequential cash generation of $61 million
Cash and equivalents increased by $61.4 million from Q1 to Q2 2026, rising to $284.2 million from $222.8 million, reflecting operational profitability.
Year-to-date cash position strengthened sharply
Total cash increased $93.5 million from December 31, 2025 to June 30, 2026, reaching $284.2 million from $190.7 million baseline.
R&D expenses increased 185% year-over-year
R&D spending rose to $17.2 million in Q2 2026 from $6.0 million in Q2 2025, with $7.0 million increase in L606 program expenses.
In their words
“We are pleased by the sustained adoption of YUTREPIA as the inhaled prostacyclin of choice. The inhaled category has grown almost 40% since launch, and YUTREPIA has captured an ever-increasing share of that growth.” Dr. Roger Jeffs, Chief Executive Officer
“Having reset the bar for tolerability and dose flexibility with YUTREPIA, we are excited to have begun site activation and enrollment in Re-Spire, our pivotal study for L606, which we believe can raise that bar even further, beyond any therapy currently available or in development.” Dr. Roger Jeffs, Chief Executive Officer
Coming up
Re-Spire L606 pivotal study enrollment progressing. Company advancing site activation and patient enrollment in Re-Spire, a global placebo-controlled efficacy study evaluating L606 in PH-ILD patients.
Expanding clinical evidence for YUTREPIA. Management progressing Phase 4 studies and additional clinical work for YUTREPIA and L606 across known and new indications.
Revenue by segment
As the company reports it in the segment note of each annual report: by business, by product and by region, latest year.
- Product sales, net$148.3M 93.7%
- Service revenue, net$10.0M 6.3%
Company events
Every 8-K, sorted by the event it reports, with the moment the SEC accepted it in New York time.
| 14 Oct 2026 | 13 Oct, 9:49 PM ET | 8-K | Material agreementAgreement endedInvestor updateOther events | 1.01, 1.02, 7.01, 8.01, 9.01 | |
| 30 Sep 2026 | 30 Sep, 5:27 PM ET | 8-K | Other events | 8.01, 9.01 | |
| 3 Sep 2026 | 8-K | Other events | 8.01, 9.01 | ||
| 12 Aug 2026 | 8-K | ResultsOther events | 2.02, 8.01, 9.01 | ||
| 17 Jun 2026 | 8-K | Shareholder vote | 5.07, 9.01 | ||
| 8 Jun 2026 | 8-K | Other events | 8.01, 9.01 | ||
| 11 May 2026 | 8-K | ResultsOther events | 2.02, 8.01, 9.01 | ||
| 5 Mar 2026 | 8-K | Results | 2.02, 9.01 | ||
| 9 Jan 2026 | 8-K | Investor update | 7.01, 9.01 | ||
| 3 Nov 2025 | 8-K | Results | 2.02, 9.01 | ||
| 30 Oct 2025 | 8-K | Material agreement | 1.01, 9.01 | ||
| 12 Aug 2025 | 8-K | Results | 2.02, 9.01 | ||
| 1 Jul 2025 | 8-K | Leadership change | 5.02, 9.01 | ||
| 24 Jun 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 18 Jun 2025 | 8-K | Shareholder vote | 5.07, 9.01 | ||
| 18 Jun 2025 | 8-K | Material agreement | 1.01, 9.01 | ||
| 2 Jun 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 23 May 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 12 May 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 8 May 2025 | 8-K | Results | 2.02, 9.01 | ||
| 8 May 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 5 May 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 22 Apr 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 28 Mar 2025 | 8-K | Other events | 8.01, 9.01 | ||
| 19 Mar 2025 | 8-K | Results | 2.02, 9.01 | ||
| 18 Mar 2025 | 8-K | Material agreementOther events | 1.01, 8.01, 9.01 | ||
| 28 Feb 2025 | 8-K | Other events | 8.01 | ||
| 26 Nov 2024 | 8-K | Material agreement | 1.01, 9.01 | ||
| 13 Nov 2024 | 8-K | Results | 2.02, 9.01 | ||
| 7 Oct 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 2 Oct 2024 | 8-K | Material agreementOther events | 1.01, 8.01, 9.01 | ||
| 17 Sep 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 12 Sep 2024 | 8-K | Share saleOther events | 3.02, 8.01, 9.01 | ||
| 11 Sep 2024 | 8-K | Material agreementOther events | 1.01, 8.01, 9.01 | ||
| 11 Sep 2024 | 8-K | Material agreement | 1.01, 9.01 | ||
| 22 Aug 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 19 Aug 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 7 Aug 2024 | 8-K | Results | 2.02, 9.01 | ||
| 21 Jun 2024 | 8-K | Shareholder vote | 5.07, 9.01 | ||
| 3 Jun 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 31 May 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 14 May 2024 | 8-K | Leadership change | 5.02, 9.01 | ||
| 14 May 2024 | 8-K | Results | 2.02, 9.01 | ||
| 1 Apr 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 13 Mar 2024 | 8-K | Results | 2.02, 9.01 | ||
| 25 Jan 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 23 Jan 2024 | 8-K | Other events | 8.01, 9.01 | ||
| 19 Jan 2024 | 8-K | Leadership changeOther events | 5.02, 8.01, 9.01 | ||
| 8 Jan 2024 | 8-K | Share saleOther events | 3.02, 8.01, 9.01 | ||
| 5 Jan 2024 | 8-K | Material agreementOther events | 1.01, 8.01, 9.01 |
Every filing
The company's filings with the SEC, newest first: 209 held. Insider, fund and large-holder filings have their own tables below.
| 14 Oct 2026 | 8-K | 8 Oct 2026 | 13 Oct, 9:49 PM ET | |
| 30 Sep 2026 | 8-K | 30 Sep 2026 | 30 Sep, 5:27 PM ET | |
| 3 Sep 2026 | 8-K | 3 Sep 2026 | ||
| 12 Aug 2026 | 10-Q | 30 Jun 2026 | ||
| 12 Aug 2026 | 8-K | 12 Aug 2026 | ||
| 17 Jun 2026 | 8-K | 16 Jun 2026 | ||
| 8 Jun 2026 | 8-K | 8 Jun 2026 | ||
| 11 May 2026 | 10-Q | 31 Mar 2026 | ||
| 11 May 2026 | 8-K | 11 May 2026 | ||
| 24 Apr 2026 | ARS | 31 Dec 2025 | ||
| 24 Apr 2026 | DEFA14A | – | ||
| 24 Apr 2026 | DEF 14A | 16 Jun 2026 | ||
| 5 Mar 2026 | S-3ASR | – | ||
| 5 Mar 2026 | S-8 | – | ||
| 5 Mar 2026 | S-8 | – | ||
| 5 Mar 2026 | 10-K | 31 Dec 2025 | ||
| 5 Mar 2026 | 8-K | 5 Mar 2026 | ||
| 9 Jan 2026 | 8-K | 9 Jan 2026 | ||
| 3 Nov 2025 | 10-Q | 30 Sep 2025 | ||
| 3 Nov 2025 | 8-K | 3 Nov 2025 | ||
| 30 Oct 2025 | 8-K | 27 Oct 2025 | ||
| 12 Aug 2025 | 10-Q | 30 Jun 2025 | ||
| 12 Aug 2025 | 8-K | 12 Aug 2025 | ||
| 1 Jul 2025 | 8-K | 1 Jul 2025 | ||
| 24 Jun 2025 | 8-K | 23 Jun 2025 | ||
| 18 Jun 2025 | 8-K | 17 Jun 2025 | ||
| 18 Jun 2025 | 8-K | 16 Jun 2025 | ||
| 2 Jun 2025 | 8-K | 30 May 2025 | ||
| 23 May 2025 | 8-K | 23 May 2025 | ||
| 12 May 2025 | 8-K | 9 May 2025 | ||
| 8 May 2025 | 10-Q | 31 Mar 2025 | ||
| 8 May 2025 | 8-K | 8 May 2025 | ||
| 8 May 2025 | 8-K | 31 Dec 2024 | ||
| 5 May 2025 | 8-K | 2 May 2025 | ||
| 25 Apr 2025 | ARS | 31 Dec 2024 | ||
| 25 Apr 2025 | DEFA14A | – | ||
| 25 Apr 2025 | DEF 14A | 17 Jun 2025 | ||
| 22 Apr 2025 | 8-K | 21 Apr 2025 | ||
| 28 Mar 2025 | 8-K | 28 Mar 2025 | ||
| 26 Mar 2025 | EFFECT | – | ||
| 21 Mar 2025 | CORRESP | – | ||
| 21 Mar 2025 | UPLOAD | – | ||
| 19 Mar 2025 | S-3 | – | ||
| 19 Mar 2025 | S-8 | – | ||
| 19 Mar 2025 | S-8 | – | ||
| 19 Mar 2025 | 10-K | 31 Dec 2024 | ||
| 19 Mar 2025 | 8-K | 19 Mar 2025 | ||
| 18 Mar 2025 | 8-K | 17 Mar 2025 | ||
| 28 Feb 2025 | 8-K | 27 Feb 2025 | ||
| 26 Nov 2024 | 8-K | 22 Nov 2024 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months, with the shares they held after.
| 12 Oct 2026 | Schundler RussellGeneral Counsel | Sale under a trading plan | 13,692 | $28.48 | $389.9K | 602,841 | 13 Oct 2026 |
| 12 Oct 2026 | Saggar RajeevChief Medical Officer | Sale under a trading plan | 9,218 | $28.48 | $262.5K | 126,368 | 13 Oct 2026 |
| 12 Oct 2026 | Moomaw ScottChief Commercial Officer | Sale under a trading plan | 8,863 | $28.48 | $252.4K | 181,487 | 13 Oct 2026 |
| 12 Oct 2026 | Krepp SarahChief Human Resource Officer | Sale under a trading plan | 5,245 | $28.48 | $149.4K | 115,241 | 13 Oct 2026 |
| 12 Oct 2026 | Khindri SanjeevChief Development Officer | Sale under a trading plan | 1,101 | $28.48 | $31.4K | 64,846 | 13 Oct 2026 |
| 12 Oct 2026 | Kaseta MichaelCFO and COO | Sale under a trading plan | 18,938 | $28.48 | $539.4K | 340,148 | 13 Oct 2026 |
| 12 Oct 2026 | Jeffs RogerChief Executive Officer | Sale under a trading plan | 32,744 | $28.48 | $932.5K | 1,125,848 | 13 Oct 2026 |
| 12 Oct 2026 | Boyle DanaChief Accounting Officer | Sale under a trading plan | 5,892 | $28.48 | $167.8K | 165,609 | 13 Oct 2026 |
| 12 Oct 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 7,301 | $28.48 | $207.9K | 177,957 | 13 Oct 2026 |
| 5 Oct 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 235,477 | $27.13 | $6.4M | 0 | 7 Oct 2026 |
| 14 Sep 2026 | Singh RamanDirector | Sale outside a trading plan | 8,468 | $66.16 | $560.2K | 44,637 | 15 Sep 2026 |
| 11 Sep 2026 | Singh RamanDirector | Sale outside a trading plan | 9,024 | $68.62 | $619.2K | 44,637 | 15 Sep 2026 |
| 1 Sep 2026 | Krepp SarahChief Human Resource Officer | Sale under a trading plan | 274 | $67.76 | $18.6K | 117,308 | 3 Sep 2026 |
| 21 Aug 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 31,799 | $69.09 | $2.2M | 216,438 | 25 Aug 2026 |
| 21 Aug 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 41,832 | $69.09 | $2.9M | 174,606 | 25 Aug 2026 |
| 20 Aug 2026 | Rielly-Gauvin KatherineDirector | Sale under a trading plan | 18,393 | $72.23 | $1.3M | 44,637 | 21 Aug 2026 |
| 19 Aug 2026 | Rielly-Gauvin KatherineDirector | Sale under a trading plan | 36,789 | $74.99 | $2.8M | 44,637 | 21 Aug 2026 |
| 19 Aug 2026 | Saggar RajeevChief Medical Officer | Sale outside a trading plan | 50,000 | $74.06 | $3.7M | 142,265 | 19 Aug 2026 |
| 17 Aug 2026 | Saggar RajeevChief Medical Officer | Sale outside a trading plan | 29,534 | $76.84 | $2.3M | 142,265 | 19 Aug 2026 |
| 27 Jul 2026 | Boyle DanaChief Accounting Officer | Sale under a trading plan | 1,600 | $87.53 | $140.0K | 167,919 | 29 Jul 2026 |
| 27 Jul 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 688 | $87.53 | $60.2K | 216,438 | 29 Jul 2026 |
| 23 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 96,400 | $89.44 | $8.6M | 505,077 | 24 Jul 2026 |
| 23 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 3,600 | $90.71 | $326.5K | 501,477 | 24 Jul 2026 |
| 22 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 37,406 | $87.70 | $3.3M | 664,071 | 24 Jul 2026 |
| 22 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 48,032 | $88.65 | $4.3M | 616,039 | 24 Jul 2026 |
| 22 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 14,562 | $89.24 | $1.3M | 601,477 | 24 Jul 2026 |
| 21 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 74,444 | $79.98 | $6.0M | 702,033 | 22 Jul 2026 |
| 21 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 556 | $80.66 | $44.8K | 701,477 | 22 Jul 2026 |
| 20 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 3,596 | $79.55 | $286.1K | 776,477 | 22 Jul 2026 |
| 13 Jul 2026 | Krepp SarahChief Human Resource Officer | Sale under a trading plan | 558 | $71.39 | $39.8K | 124,484 | 14 Jul 2026 |
| 13 Jul 2026 | Krepp SarahChief Human Resource Officer | Sale under a trading plan | 7,306 | $71.52 | $522.5K | 117,178 | 14 Jul 2026 |
| 13 Jul 2026 | Khindri SanjeevChief Development Officer | Sale under a trading plan | 84 | $71.39 | $6.0K | 67,048 | 14 Jul 2026 |
| 13 Jul 2026 | Khindri SanjeevChief Development Officer | Sale under a trading plan | 1,101 | $71.52 | $78.7K | 65,947 | 14 Jul 2026 |
| 13 Jul 2026 | Kaseta MichaelCFO and COO | Sale under a trading plan | 1,453 | $71.39 | $103.7K | 364,782 | 14 Jul 2026 |
| 13 Jul 2026 | Kaseta MichaelCFO and COO | Sale under a trading plan | 18,977 | $71.52 | $1.4M | 345,805 | 14 Jul 2026 |
| 13 Jul 2026 | Jeffs RogerChief Executive Officer | Sale under a trading plan | 2,505 | $71.39 | $178.8K | 1,163,170 | 14 Jul 2026 |
| 13 Jul 2026 | Jeffs RogerChief Executive Officer | Sale under a trading plan | 32,744 | $71.52 | $2.3M | 1,130,426 | 14 Jul 2026 |
| 13 Jul 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 562 | $71.39 | $40.1K | 224,427 | 14 Jul 2026 |
| 13 Jul 2026 | Adair JasonChief Business Officer | Sale under a trading plan | 7,301 | $71.52 | $522.2K | 217,126 | 14 Jul 2026 |
| 13 Jul 2026 | Schundler RussellGeneral Counsel | Sale under a trading plan | 1,046 | $71.39 | $74.7K | 619,654 | 14 Jul 2026 |
| 13 Jul 2026 | Schundler RussellGeneral Counsel | Sale under a trading plan | 13,692 | $71.52 | $979.3K | 605,962 | 14 Jul 2026 |
| 13 Jul 2026 | Saggar RajeevChief Medical Officer | Sale under a trading plan | 703 | $71.39 | $50.2K | 181,022 | 14 Jul 2026 |
| 13 Jul 2026 | Saggar RajeevChief Medical Officer | Sale under a trading plan | 9,223 | $71.52 | $659.6K | 171,799 | 14 Jul 2026 |
| 13 Jul 2026 | Moomaw ScottChief Commercial Officer | Sale under a trading plan | 675 | $71.39 | $48.2K | 191,349 | 14 Jul 2026 |
| 13 Jul 2026 | Moomaw ScottChief Commercial Officer | Sale under a trading plan | 8,864 | $71.52 | $634.0K | 182,485 | 14 Jul 2026 |
| 13 Jul 2026 | Boyle DanaChief Accounting Officer | Sale under a trading plan | 641 | $71.39 | $45.8K | 177,880 | 14 Jul 2026 |
| 13 Jul 2026 | Boyle DanaChief Accounting Officer | Sale under a trading plan | 8,361 | $71.52 | $598.0K | 169,519 | 14 Jul 2026 |
| 7 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 22,718 | $80.48 | $1.8M | 807,355 | 8 Jul 2026 |
| 7 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 27,282 | $81.31 | $2.2M | 780,073 | 8 Jul 2026 |
| 6 Jul 2026 | Bloch Stephen MDirector | Sale outside a trading plan | 25,000 | $80.17 | $2.0M | 830,073 | 8 Jul 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| 14 Sep 2026 | RAMANDEEP SINGHDirector | 8,468 | $560.2K | 14 Sep 2026 |
| 11 Sep 2026 | RAMANDEEP SINGHDirector | 9,024 | $619.2K | 11 Sep 2026 |
| 21 Aug 2026 | JASON ADAIROfficer | 73,631 | $5.2M | 21 Aug 2026 |
| 19 Aug 2026 | RAJEEV SAGGAROfficer | 50,000 | $3.7M | 19 Aug 2026 |
| 19 Aug 2026 | Katherine T. Rielly-GauvinDirector | 55,182 | $4.1M | 19 Aug 2026 |
| 17 Aug 2026 | RAJEEV SAGGAROfficer | 29,534 | $2.3M | 17 Aug 2026 |
| 11 Jun 2026 | SARAH KREPPOfficer | 24,880 | $1.6M | 11 Jun 2026 |
| 10 Jun 2026 | Canaan VIII LPDirector | 200,000 | $13.0M | 10 Jun 2026 |
| 8 Jun 2026 | Canaan VIII LPDirector | 200,000 | $12.8M | 8 Jun 2026 |
| 4 Jun 2026 | Paul B ManningDirector | 200,000 | $11.1M | 4 Jun 2026 |
| 4 Jun 2026 | Canaan VIII LPDirector | 200,000 | $13.0M | 4 Jun 2026 |
| 1 Jun 2026 | KIRSCH ARTHUR SDirector | 30,000 | $1.8M | 1 Jun 2026 |
| 21 May 2026 | RAMANDEEP SINGHDirector | 29,494 | $1.8M | 21 May 2026 |
| 20 May 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 106,428 | $6.4M | 20 May 2026 |
| 14 May 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 100,000 | $5.8M | 14 May 2026 |
| 11 May 2026 | Canaan VIII LPDirector | 318,893 | $15.9M | 11 May 2026 |
| 8 May 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 100,000 | $4.2M | 8 May 2026 |
| 7 May 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 25,000 | $1.1M | 7 May 2026 |
| 17 Apr 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 68,839 | $2.8M | 17 Apr 2026 |
| 16 Apr 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 25,000 | $1.0M | 16 Apr 2026 |
| 15 Apr 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 24,733 | $957.4K | 15 Apr 2026 |
| 15 Apr 2026 | MICHAEL KASETAOfficer | 139,390 | $5.4M | 15 Apr 2026 |
| 14 Apr 2026 | MICHAEL KASETAOfficer | 3,000 | $116.5K | 14 Apr 2026 |
| 10 Apr 2026 | MICHAEL KASETAOfficer | 23,821 | $960.5K | 10 Apr 2026 |
| 10 Apr 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 25,000 | $1.0M | 10 Apr 2026 |
| 9 Apr 2026 | SERENDIPITY BIOPHARMA LLCDirector, Officer | 25,000 | $954.8K | 9 Apr 2026 |
| 9 Apr 2026 | MICHAEL KASETAOfficer | 133,789 | $5.1M | 9 Apr 2026 |
| 27 Mar 2026 | Canaan VIII LPBoard Member | 62,550 | $2.1M | 27 Mar 2026 |
| 26 Mar 2026 | Canaan VIII LPBoard Member | 7,684 | $285.0K | 26 Mar 2026 |
| 13 Mar 2026 | SARAH T KREPPOfficer | 16,261 | $617.9K | 13 Mar 2026 |
| 13 Mar 2026 | Rajeev SaggarOfficer | 35,365 | $1.3M | 13 Mar 2026 |
| 13 Mar 2026 | RAMANDEEP SINGHDirector | 40,359 | $1.5M | 13 Mar 2026 |
| 9 Mar 2026 | SCOTT MOOMAWOfficer | 100,000 | $3.6M | 9 Mar 2026 |
| 18 Nov 2025 | JASON ADAIROfficer | 35,656 | $1.0M | 18 Nov 2025 |
| 7 Nov 2025 | Dana BoyleOfficer | 29,004 | $727.6K | 7 Nov 2025 |
| 5 Nov 2025 | Rajeev SaggarOfficer | 71,381 | $1.9M | 5 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| 14 Aug 2026 | Paul B Manning | 13G amended | 6.5% | 4.9M |
| 4 Aug 2026 | Farallon Capital Management, L.L.C. | 13G amended | 9.4% | 8.4M |
| 8 Jul 2026 | BlackRock, Inc. | 13G amended | 11.9% | 10.6M |
| 9 Feb 2026 | Farallon Capital Partners, L.P. | 13G amended | 9.9% | 8.7M |
| 12 Nov 2025 | Farallon Capital Partners, L.P. | 13G amended | 9.95% | 8.6M |
Trades by members of the House
From each member's periodic transaction report: the amount is the band the report gives.
No House trades in this company.
Short interest
Shares sold short and not yet bought back, on every FINRA settlement date.
| 30 Sep 2026 | 12.6M | +2.12% | 3.84 |
| 15 Sep 2026 | 12.4M | +4.38% | 11.45 |
| 31 Aug 2026 | 11.9M | +0.02% | 10.16 |
| 14 Aug 2026 | 11.9M | -0.89% | 6.45 |
| 31 Jul 2026 | 12.0M | -3% | 8.25 |
| 15 Jul 2026 | 12.3M | -6.42% | 9.18 |
| 30 Jun 2026 | 13.2M | +13.51% | 4.05 |
| 15 Jun 2026 | 11.6M | +16.62% | 5.1 |
| 29 May 2026 | 10.0M | -2.47% | 7.77 |
| 15 May 2026 | 10.2M | +2.61% | 4.94 |
Funds that hold it
Every fund's holding from its latest Form 13F, largest first, with what it added or trimmed in the quarter.
Funds holding
369
quarter to 30 Jun 2026
Added or new
224
since 31 Mar 2026
Trimmed
80
in the quarter
Largest holder
BlackRock, Inc.
$860.2M
| BlackRock, Inc. | $860.2M | 10.8M | +5.3M | Added | 0.01% | Filing ↗ |
| Farallon Capital Management, L.l.c. | $666.9M | 8.4M | -291.0K | Trimmed | 3.94% | Filing ↗ |
| Caligan Partners LP | $647.3M | 8.1M | 0 | Held | 31.23% | Filing ↗ |
| Findell Capital Management LLC | $279.2M | 3.5M | 0 | Held | 46.03% | Filing ↗ |
| Vanguard Capital Management LLC | $250.3M | 3.1M | +212.2K | Added | 0.01% | Filing ↗ |
| State Street Corp. | $241.6M | 3.0M | +1.1M | Added | 0.01% | Filing ↗ |
| Opaleye Management Inc. | $195.1M | 2.4M | -97.5K | Trimmed | 17.67% | Filing ↗ |
| Geode Capital Management, LLC | $169.2M | 2.1M | +192.3K | Added | 0.01% | Filing ↗ |
| Bank of America Corp. | $158.8M | 2.0M | -296.2K | Trimmed | 0.01% | Filing ↗ |
| Price T Rowe Associates Inc. | $154.7M | 1.9M | +987.2K | Added | 0.02% | Filing ↗ |
| Vanguard Portfolio Management LLC | $122.2M | 1.5M | +899.5K | Added | 0.01% | Filing ↗ |
| Caprock Group, LLC | $112.4M | 1.4M | +42.5K | Added | 2.15% | Filing ↗ |
| MPM Bioimpact LLC | $110.5M | 1.4M | -19.0K | Trimmed | 6.74% | Filing ↗ |
| D. E. Shaw & Co., Inc. | $101.1M | 1.3M | +394.6K | Added | 0.07% | Filing ↗ |
| Fuller & Thaler Asset Management, Inc. | $96.4M | 1.2M | +1.2M | New | 0.26% | Filing ↗ |
| Goldman Sachs Group Inc. | $76.5M | 958.9K | +146.9K | Added | 0.01% | Filing ↗ |
| Federated Hermes, Inc. | $65.1M | 816.2K | +377.4K | Added | 0.09% | Filing ↗ |
| Northern Trust Corp. | $56.5M | 709.1K | +129.2K | Added | 0.01% | Filing ↗ |
| Charles Schwab Investment Management Inc. | $53.7M | 674.0K | +116.8K | Added | 0.01% | Filing ↗ |
| Morgan Stanley | $52.5M | 658.4K | +313.8K | Added | 0.00% | Filing ↗ |
| Boothbay Fund Management, LLC | $49.6M | 622.7K | -2.3K | Trimmed | 0.93% | Filing ↗ |
| UBS Group AG | $48.4M | 606.6K | +399.3K | Added | 0.01% | Filing ↗ |
| FMR LLC | $47.5M | 595.6K | +13.4K | Added | 0.00% | Filing ↗ |
| American Century Companies Inc. | $43.2M | 542.1K | +542.1K | New | 0.02% | Filing ↗ |
| Vanguard Fiduciary Trust Co. | $40.2M | 503.8K | +31.5K | Added | 0.01% | Filing ↗ |
| Susquehanna International Group, LLP | $37.6M | 471.1K | -530.0K | Trimmed | 0.03% | Filing ↗ |
| Eversept Partners, LP | $34.2M | 428.7K | -248.7K | Trimmed | 1.86% | Filing ↗ |
| Buckley Capital Advisors, LLC | $32.7M | 410.0K | -214.8K | Trimmed | 20.33% | Filing ↗ |
| Oberweis Asset Management Inc. | $32.4M | 406.4K | +34.3K | Added | 0.67% | Filing ↗ |
| Invesco Ltd. | $32.3M | 405.1K | -76.4K | Trimmed | 0.00% | Filing ↗ |
| Purewater Capital LLC | $30.3M | 379.9K | +12.4K | Added | 21.87% | Filing ↗ |
| Bank of New York Mellon Corp | $29.7M | 372.4K | +178.5K | Added | 0.01% | Filing ↗ |
| Principal Financial Group Inc. | $27.4M | 343.4K | +343.4K | New | 0.01% | Filing ↗ |
| Nuveen, LLC | $25.2M | 316.5K | +164.3K | Added | 0.01% | Filing ↗ |
| First Trust Advisors LP | $24.0M | 301.4K | +22.0K | Added | 0.01% | Filing ↗ |
| Two Sigma Investments, LP | $21.3M | 266.8K | -296.4K | Trimmed | 0.02% | Filing ↗ |
| Seven Fleet Capital Management LP | $20.5M | 256.6K | +68.7K | Added | 3.38% | Filing ↗ |
| Jupiter Topco LLC | $20.0M | 250.9K | – | first | 0.01% | Filing ↗ |
| Public Sector Pension Investment Board | $19.2M | 241.4K | +241.4K | New | 0.05% | Filing ↗ |
| Jacobs Levy Equity Management, Inc. | $19.2M | 240.8K | +240.8K | New | 0.07% | Filing ↗ |
| Dimensional Fund Advisors LP | $19.1M | 239.6K | +239.6K | New | 0.00% | Filing ↗ |
| Renaissance Technologies LLC | $18.5M | 232.4K | +224.3K | Added | 0.03% | Filing ↗ |
| Raymond James Financial Inc. | $18.0M | 225.9K | +63.4K | Added | 0.01% | Filing ↗ |
| Empowered Funds, LLC | $16.8M | 210.4K | +113.6K | Added | 0.09% | Filing ↗ |
| Algert Global LLC | $15.3M | 191.8K | -12.2K | Trimmed | 0.18% | Filing ↗ |
| Capricorn Fund Managers Ltd | $14.5M | 182.2K | -65.2K | Trimmed | 1.16% | Filing ↗ |
| Wellington Management Group LLP | $14.0M | 176.1K | -22.9K | Trimmed | 0.00% | Filing ↗ |
| Greenland Capital Management LP | $13.7M | 172.0K | +22.0K | Added | 2.76% | Filing ↗ |
| Ameriprise Financial Inc. | $13.6M | 170.4K | +170.4K | New | 0.00% | Filing ↗ |
| Citigroup Inc. | $13.3M | 166.9K | +72.1K | Added | 0.01% | Filing ↗ |
Executive pay and performance
What the chief executive and the other named officers were paid, as reported and as actually paid, next to the shareholder return and net income, from each proxy's pay-versus-performance table.
| Fiscal year | CEO pay, as reported | CEO pay, actually paid | Other officers, as reported (average) | Other officers, actually paid (average) | Shareholder return, $100 | Peer return, $100 | Net income | Revenue | Proxy |
|---|---|---|---|---|---|---|---|---|---|
| FY ending 31 Dec 2025 | $7.7M | $34.9M | $2.8M | $12.1M | $708 | $121 | $-68.9M | $158.3M | DEF 14A 24 Apr 2026 |
| FY ending 31 Dec 2024 | $6.8M | $6.2M | $3.3M | $3.1M | $241 | $91 | $-130.4Mn | $14.0M | DEF 14A 24 Apr 2026 |
| FY ending 31 Dec 2023 | $4.9M | $15.5M | $2.2M | $4.8M | $247 | $92 | $-78.5M | $17.5M | DEF 14A 24 Apr 2026 |
| FY ending 31 Dec 2022 | $10.8M | $13.9M | $1.8M | $2.2M | $131 | $89 | $-41.0M | $15.9M | DEF 14A 24 Apr 2026 |
Each year from the newest proxy that reports it. Pay actually paid follows the SEC's definition and can be below zero when share awards fall in value. n the proxy's net income differs from the 10-K or was tagged without its scale: hover for which.
Shareholder votes
The vote count on every proposal at each meeting, from the company's 8-K.
| Proposal | For | Against or withheld | Abstain | Broker non-votes | For, % of for and against | Result |
|---|---|---|---|---|---|---|
| Proposal 1 (the filing doesn't name it) | ||||||
| Katie Rielly-Gauvin | 41,448,383 | 3,484,195 | – | 22,546,609 | 92.2% | – |
| Ramandeep Singh | 41,158,353 | 3,774,225 | – | 22,546,609 | 91.6% | – |
| David Johnson | 44,874,399 | 58,179 | – | 22,546,609 | 99.9% | – |
| Proposal No. 2 - Ratification of the Appointment of Independent Registered Public Accounting Firm The vote with respect to the ratification of the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2026 was as fol | ||||||
| All shares voting | 67,279,878 | 183,739 | 15,570 | – | 99.7% | – |
| Proposal No. 3 - Approval, by Non-Binding Advisory Vote, of the Compensation of the NEOs The vote with respect to the approval, by non-binding advisory vote, of the compensation of the NEOs was as follows: | ||||||
| All shares voting | 44,270,299 | 612,749 | 49,530 | 22,546,609 | 98.6% | – |
Counts as the company reports them in its 8-K. A result shows when the filing states one. Meetings since 2023.
Dividends and buybacks
Dividend per share, the cash paid and the shares bought back, each fiscal year.
This company has paid no dividend in the years held.
Peers
Companies in the same industry, largest first, on the same measures.
| Company | Market value | Revenue, 12 months | Revenue growth | Operating margin | Net margin | ROE | P/E | EV/EBITDA |
|---|---|---|---|---|---|---|---|---|
| Liquidia Corp.this company | $3.8B | $450.9M | 2233.6% | 37.4% | 30.7% | 71.0% | 31.1× | 20.7× |
| Eli Lilly & Co. | $1.20T | $79.7B | 49.6% | – | 33.5% | 78.8% | 42.7× | – |
| Johnson & Johnson | $635.2B | $99.3B | 7.8% | – | 16.2% | 19.7% | 40.0× | – |
| AbbVie Inc. | $504.8B | $64.4B | 10.4% | 26.2% | 9.8% | – | 80.7× | 23.0× |
| Merck & Co., Inc. | $358.4B | $66.6B | 4.6% | – | 4.8% | 7.6% | 116.2× | – |
| Novartis AG | $288.3B | $54.5B | 8.4% | – | – | 30.3% | 21.1× | – |
| AstraZeneca PLC | $266.0B | $58.7B | 8.6% | 23.4% | 17.4% | 21.0% | 26.2× | – |
| Abbott Laboratories | $179.4B | $46.6B | 8.1% | 15.8% | 11.6% | 10.6% | 33.6× | 19.2× |
| Novo Nordisk A/S | $174.3B | $46.8B | 6.4% | 41.3% | 33.1% | 52.8% | 11.3× | – |
| Pfizer Inc. | $171.1B | $63.7B | -0.2% | – | 6.8% | 5.1% | 39.5× | – |
| Vertex Pharmaceuticals Inc. | $132.7B | $12.6B | 10.2% | 38.0% | 35.0% | 21.8% | 30.5× | 25.3× |
What the company does
The description for this company is being written.
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