Russell Schundler, General Counsel at Liquidia Corp (NASDAQ:LQDA), recently sold 2,576 shares of the company’s common stock. The shares were sold at an average price of $11.1077 per share, amounting to a total transaction value of $28,613. This sale was conducted under a Rule 10b5-1 plan, which Schundler had adopted on December 15, 2023.
The shares sold were meant to cover taxes associated with the settlement of restricted stock units (RSUs) that were initially granted on January 11, 2023. Following this transaction, Schundler continues to hold 486,048 shares directly, which include unvested RSUs and shares acquired through the Liquidia Corporation 2020 Employee Stock Purchase Plan.
Additionally, Schundler's spouse holds 14,500 shares, though he disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest.
In other recent news, Liquidia Technologies (NASDAQ:LQDA) is making strides, having received a tentative FDA approval for its product, Yutrepia, for the treatment of Pulmonary Arterial Hypertension and Pulmonary Hypertension in patients with Interstitial Lung Disease. This follows a legal victory as the US Supreme Court invalidated the '793 patent challenge by United Therapeutics (NASDAQ:UTHR), clearing the path for Liquidia's product launch. However, a potential obstacle remains in the form of another patent dispute involving the '327 patent. Analyst firms, LifeSci Capital and BTIG, have maintained their Outperform and Buy ratings respectively on Liquidia, despite a decrease in Q2 2024 revenue to $3.7 million from $4.8 million in the same period last year. Liquidia also secured approximately $100 million for cardiopulmonary drug development. These are the recent developments for Liquidia Technologies.
InvestingPro Insights
To provide additional context to Russell Schundler's recent stock sale at Liquidia Corp (NASDAQ:LQDA), it's worth examining some key financial metrics and analyst insights from InvestingPro.
Liquidia Corp currently has a market capitalization of $968.24 million, indicating it's a small-cap company in the biotechnology sector. Despite the recent insider sale, the stock has shown strong performance, with a 1-year price total return of 86.56% as of the latest data. This aligns with one of the InvestingPro Tips, which highlights the company's "high return over the last year."
However, investors should note that Liquidia faces some financial challenges. The company is not currently profitable, with a negative P/E ratio of -9.39 for the last twelve months as of Q2 2024. This is consistent with another InvestingPro Tip stating that "analysts do not anticipate the company will be profitable this year."
On the positive side, Liquidia's balance sheet appears relatively stable. An InvestingPro Tip indicates that "liquid assets exceed short term obligations," suggesting the company has sufficient resources to meet its near-term financial commitments.
It's important to note that these insights are just a snapshot of the 12 additional tips available on InvestingPro. For a more comprehensive analysis of Liquidia Corp's financial health and future prospects, investors may want to explore the full range of tips and data available through the InvestingPro service.
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