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LQDA · Medicine & biotech · U.S.

Liquidia

Makes Yutrepia, an inhaled medicine for a rare lung disease.

Company Health

27
/100
Weak
A quick check of the business from its yearly reports (2022–2025). It doesn’t say whether the stock is a good buy.
Does it make money?
0 of 25 · Poor
It lost money last year: $44 of every $100 in sales.
Is it growing?
25 of 25 · Good
Sales grew about 115% a year over the last 3 years.
Can it handle what it owes?
2 of 25 · Poor
Its business used cash last year, and it owes $86 of every $100 it owns.
Does it bring in spare cash?
0 of 25 · Poor
It spent more cash than it brought in: $25 of every $100 in sales.

Who owns it

1 of 23 own it · Nobody changed their stake
bought lately
owns it
doesn’t own it
Bets on it with options: Arquitos (call options)
Didn’t report owning it: Whale Rock, Appaloosa, Melqart, Coatue, D1 Capital, Light Street, Lone Pine, Third Point, TCI, Pershing Square, Duquesne, Himalaya Capital, Greenlight, Giverny Capital, Fundsmith, Semper Augustus, Akre
Their letters don’t mention it: Alluvial, Bireme, Kingdom Capital, Saga Partners
From each fund’s latest 13F report (Jun 30, 2026). Funds that don’t file one: from their own letters.

The numbers

From Liquidia’s yearly reports. Tap a year to see its figures.

Sales and profit

Sales grew from $740,000 in 2020 to $158 million in 2025, and it lost money every year.
2025
Sales
$158 million
Loss
$68.9 million

Spare cash each year

It spent more cash than it brought in every year: $40.0 million more in 2025.
2025
Cash shortfall
$40.0 million
Spare cash is the cash its business brought in, minus what it spent on buildings and equipment.

What it owns and what it owes

At the end of 2025 it owned $328 million, including $191 million in cash, and owed $283 million.

Key facts

From its yearly report for 2025.
Sales
$158 million
Loss
$68.9 million
Cash shortfall
$40.0 million
Cash in the bank
$191 million
Everything it owes
$283 million
Year ends
December
Money shown in
U.S. dollars
Latest yearly report
10-K, filed Mar 5, 2026
Figures from Liquidia’s yearly reports to the SEC (EDGAR), collected Oct 12, 2026.
Not investment advice. Holdings come from public SEC reports and the funds’ own letters, and can be up to 4½ months old. How this works
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