Liquidia net sales hit $130M as over 3,750 patients begin YUTREPIA therapy

Liquidia (NASDAQ:LQDA) posted net product sales of $129.9 million for the quarter ended March 31, 2026, a result driven entirely by the commercial success of YUTREPIA.

The strong top-line performance supported net income of $52.9 million and an adjusted EBITDA of $71.2 million, representing a significant shift in the company's financial profile since the product’s launch in mid-2025.

Since YUTREPIA first entered the market in June 2025, it has seen robust adoption among clinicians and patients.

The company reported that more than 4,500 unique prescriptions have been received to date, with approximately 3,750 patients having successfully initiated treatment.

Management highlighted a conversion rate at or above 85%, suggesting strong patient retention and streamlined onboarding processes.

The company ended the quarter with $222.8 million in cash and cash equivalents, providing a substantial cushion to fund ongoing clinical developments.

Liquidia is currently screening patients for its Phase 4 study, which evaluates the transition of patients from Tyvaso and Tyvaso DPI to YUTREPIA in the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD).

Additionally, progress continues on the pivotal Phase 3 Re-Spire study for L606, a sustained-release inhaled treprostinil prodrug.