New York, Jan 11, 2026, 08:01 EST — Market closed.
- Shares of Liquidia jumped 12.9% on Friday following the release of preliminary 2025 sales and cash-flow data for YUTREPIA
- The drugmaker projected 2025 YUTREPIA net product sales at roughly $148.3 million, with $90.1 million expected in Q4
- Next: a J.P. Morgan Healthcare Conference presentation on Jan. 14, with audited results slated for February
Shares of Liquidia Corporation jumped 12.9% to close at $35.86 on Friday, following a strong sales surge for its inhaled treprostinil therapy, YUTREPIA. The stock traded between $29.41 and $38.07 throughout the day.
This shift carries weight as Liquidia remains in the early phase of its commercial rollout. Investors want clear signs that demand will ramp up quickly enough to support the company’s pipeline without needing to raise capital soon.
Liquidia reported preliminary, unaudited 2025 net product sales of YUTREPIA at roughly $148.3 million, with around $90.1 million coming in Q4, according to a company update released before Friday’s open. The firm said it pulled in over $30 million in positive cash flow during the last quarter and closed the year with about $190.7 million in cash and equivalents. CEO Roger Jeffs described 2025 as a “transformational year” and is scheduled to speak at the J.P. Morgan Healthcare Conference in San Francisco on Jan. 14.
Liquidia reported steady uptake, citing over 2,800 unique patient prescriptions since its May 2025 approval. More than 2,200 patients had started treatment by December, with about 750 prescribers involved. The company also announced plans to grow its field sales team in 2026. 1
Liquidia plans to wrap up the ASCENT open-label study soon, targeting pulmonary hypertension linked to interstitial lung disease—where both patients and doctors are aware of the treatment administered. The company also announced three additional open-label trials for patients who haven’t responded well to other prostacyclin therapies. On top of that, there’s an investigator-initiated trial combining YUTREPIA with Merck’s Winrevair, while enrollment continues for the Re-Spire Phase III study of its extended-release candidate L606.
The update came in a Form 8-K filed on Jan. 9, complying with Regulation FD, the SEC rule designed to block selective disclosure of market-sensitive information.
Still, the upside hinges on a few hurdles. Liquidia flagged the numbers as preliminary and unaudited. It also noted that its capacity to keep YUTREPIA approved and on the market depends on ongoing litigation, where United Therapeutics is pushing for injunctive relief — a court order that might limit sales in one or both indications.
Markets were closed over the weekend, so all eyes turn to Monday’s reopening of U.S. stocks. The healthcare conference schedule often sparks big moves in smaller biotech names. Liquidia steps in with fresh data and a stronger tape to boot.
Jeffs’ Jan. 14 presentation is the next fixed catalyst, with audited 2025 results due in February. That will be the first opportunity for investors to get a clear picture of the final numbers and a more precise outlook on 2026 demand.
