Liquidia Corp (NASDAQ:LQDA) CFO and COO Michael Kaseta recently sold 23,370 shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The shares were sold on January 14 at a price of $11.78 per share, totaling $275,298. According to InvestingPro data, the stock currently trades at $11.36, with analysts setting price targets between $17 and $31, suggesting potential upside. This transaction was conducted as part of a pre-arranged trading plan under Rule 10b5-1, which allows executives to set up a trading plan for selling stocks at a later date.
In addition to the sale, Kaseta acquired 112,797 shares of common stock on January 11 through the vesting of performance stock units (PSUs) and restricted stock units (RSUs). These shares were acquired at no cost, as the PSUs and RSUs convert into common stock upon meeting certain conditions. Following these transactions, Kaseta holds 401,755 shares of Liquidia Corp, representing a significant stake in the company, which currently maintains a market capitalization of approximately $967 million.
The sale of shares was executed to cover taxes associated with the settlement of RSUs granted in previous years. Liquidia Corp, based in Morrisville, North Carolina, is involved in pharmaceutical preparations. InvestingPro analysis reveals the company maintains a strong financial position with more cash than debt and a healthy current ratio of 6.33, indicating robust liquidity. For deeper insights into Liquidia's financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Liquidia Corporation reported an increase in Q3 revenue to $4.4 million, up from $3.7 million in the same quarter of the previous year. Despite a net loss of $23.2 million, the company maintains a strong cash position with $204.4 million in reserves. These developments follow their progress towards the anticipated launch of the inhaled treatment YUTREPIA for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease.
Liquidia is also preparing for the pivotal study of their product L606 and the development of a next-generation nebulizer in partnership with Pharmosa. The company is well-positioned for the potential launch of YUTREPIA post the expiration of TYVASO DPI's exclusivity in May 2025.
These are recent developments that highlight Liquidia's focus on advancing its product line and its 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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