Michael Kaseta, the Chief Financial Officer and Chief Operating Officer of Liquidia Corp (NASDAQ:LQDA), recently sold 1,091 shares of the company's common stock. The transaction, which took place on December 2, 2024, was executed at a price of $11.51 per share, amounting to a total of $12,557. The sale comes as Liquidia, currently valued at approximately $957 million, trades near $11.26 per share, with analysts setting price targets between $17 and $31. This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Kaseta adopted on December 15, 2023.
In addition to the stock sale, Kaseta also acquired 2,343 shares of common stock on November 30, 2024. This acquisition was a result of the conversion of restricted stock units (RSUs) into common stock, with no cash transaction involved. Following these transactions, Kaseta holds a total of 312,328 shares in Liquidia Corp.
These moves are part of Kaseta's ongoing management of his equity position in the company, which includes a combination of vested and unvested RSUs. While the company maintains strong liquidity with a current ratio of 6.33, InvestingPro analysis indicates that analysts expect sales to decline in the current year.
In other recent news, Liquidia Corporation reported a growth in Q3 revenue, rising to $4.4 million from $3.7 million in the same quarter of the previous year. The company also reported a net loss of $23.2 million. Despite this, it maintains a strong cash position with $204.4 million, preparing for the potential launch of their inhaled treatment YUTREPIA post the expiration of TYVASO DPI's exclusivity in May 2025.
Liquidia is also developing a next-generation nebulizer and preparing for the pivotal study of their product L606. The company has expanded its partnership with Pharmosa for the development of this next-generation nebulizer. The pivotal study for L606, expected to start in the first half of 2025, will enroll 300 to 400 patients globally.
These recent developments show Liquidia's commitment to bringing innovative treatments to market for patients with pulmonary hypertension. The company's financial health and strategic partnerships suggest a robust approach to meeting the needs of patients and healthcare providers alike.
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