Health score, competitive moat, risk signals, and key metrics at a glance.
Liquidia Corporation, a biopharmaceutical company, develops, manufactures, and commercializes various products for rare cardiopulmonary diseases in the United States. The company's lead product candidates include YUTREPIA, an inhaled dry powder formulation of treprostinil for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). It also provides Remodulin, a treprostinil injection administered through continuous intravenous and subcutaneous infusion; and develops L606, an investigational liposomal formulation of treprostinil which is in phase III clinical trial for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). In addition, the company offers PRINT technology which allows to engineer and manufacture uniform drug particles with precise control over the size, three-dimensional geometric shape, and chemical composition of the particles. It has a license agreement with Pharmosa Biopharm Inc to develop and commercialize L606, an inhaled sustained-release formulation of Treprostinil for the treatment of PAH and PH-ILD; Vectura; The University of North Carolina at Chapel Hill; GlaxoSmithKline; Alcon Inc; and promotion Agreement with Sandoz. Liquidia Corporation was founded in 2004 and is based in Morrisville, North Carolina.
Competitive analysis based on 22 quarters of fundamental data
Operating margins are under pressure, averaging -515.8%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Data-driven red flags and warnings across 22 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.
Limited debt-to-equity data available.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 6 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 15.1% — significant dilution, likely from stock compensation or capital raises.
as of March 2026
Revenue, EBITDA, operating income, net income, EPS, and shares
Gross, EBITDA, operating, and net margin trends
P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield
Total assets, cash, debt, book value, and leverage
Operating cash flow, free cash flow, FCF margin, and earnings quality
Only 2 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~1841.1% growth over the period. Strong demand durability.
