Liquidia Corp(LQDA) - 2024 Q2 - Quarterly Results

Financial Performance - Revenue was $3.7 million for Q2 2024, a decrease of$ 1.1 million (23%) compared to $4.8 million in Q2 2023[6] - Revenue for Q2 2024 decreased to$ 3.659 million from $4.786 million in Q2 2023, a decline of 23.5%[19] - Net loss for Q2 2024 was$ 27.9 million or $0.37 per share, compared to a net loss of$ 23.5 million or $0.36 per share in Q2 2023[10] - Net loss increased to$ 27.942 million in Q2 2024 from $23.517 million in Q2 2023, a rise of 18.8%[19] - Net loss per common share remained relatively stable at$ 0.37 in Q2 2024 compared to $0.36 in Q2 2023[19] - Weighted average common shares outstanding increased to 76,435,831 in Q2 2024 from 64,788,482 in Q2 2023, a rise of 18.0%[19] Expenses - Research and development expenses decreased by$ 8.3 million (47%) to $9.4 million in Q2 2024 compared to$ 17.7 million in Q2 2023[7] - General and administrative expenses increased by $10.8 million (116%) to$ 20.0 million in Q2 2024 compared to $9.2 million in Q2 2023[8] - Cost of revenue increased to$ 1.493 million in Q2 2024 from $0.671 million in Q2 2023, a rise of 122.5%[19] - Research and development expenses decreased to$ 9.420 million in Q2 2024 from $17.695 million in Q2 2023, a reduction of 46.8%[19] - General and administrative expenses increased to$ 19.943 million in Q2 2024 from $9.245 million in Q2 2023, a rise of 115.7%[19] - Total costs and expenses increased to$ 30.856 million in Q2 2024 from $27.611 million in Q2 2023, a rise of 11.7%[19] Cash and Assets - Cash and cash equivalents totaled$ 133.1 million as of June 30, 2024, compared to $83.7 million as of December 31, 2023[6][18] - Total assets increased to$ 177.4 million as of June 30, 2024, compared to $118.3 million as of December 31, 2023[18] Product Development and FDA Approval - YUTREPIA is progressing towards FDA approval for PAH and PH-ILD, with no legal impediments currently[2][3] - L606 is in Phase 3 clinical trials for PAH and PH-ILD, with a planned global pivotal placebo-controlled efficacy study for PH-ILD[5][12] - The company has a clear legal path for FDA approval of YUTREPIA following court rulings in its favor[2][3] Presentations and Conferences - Liquidia presented new data on YUTREPIA and L606 at the World Symposia on Pulmonary Hypertension and the American Thoracic Society 2024 International Conference[4][5]