- Fully esolves all six o goi g lawsuits betwee the compa ies
- Mai tai s u i te upted access to YUTREPIA® fo patie ts with pulmo a y a te ial hype te sio (PAH)
- Liquidia to pay et $380.7 millio i multiple i stallme ts i 2026 a d 2027, i clusive of payme ts to esolve a tit ust litigatio agai st U ited The apeutics
- St o g fi a cial positio with $222.7 millio i Q3’26 YUTREPIA et p oduct sales (p elimi a y, u audited), co t ibuti g to $396.1 millio i cash a d cash equivale ts as of Septembe 30, 2026
- Liquidia will co ti ue to adva ce YUTREPIA a d L606 cli ical p og ams as p eviously outli ed
MORRISVILLE, N.C., Oct. 13, 2026 (GLOBE NEWSWIRE) — Liquidia Co po atio (Nasdaq: LQDA), a biopha maceutical compa y d ive by scie ce a d compassio to evolutio ize ca e fo patie ts with challe gi g espi ato y a d vascula diseases, today a ou ced that it has e te ed i to a global settleme t ag eeme t with U ited The apeutics Co po atio (Nasdaq: UTHR) that esolves all pe di g litigatio betwee the compa ies. Impo ta tly, YUTREPIA® (t ep osti il) i halatio powde will emai available to patie ts with PAH without dis uptio .
Liquidia CEO D . Roge Jeffs said: “We a e always guided by ou commitme t to act i the best i te ests of patie ts i eve ythi g we do. Today’s ag eeme t fully esolves yea s of litigatio a d p ovides ce tai ty to PAH patie ts that they ca co ti ue to access YUTREPIA, whose diffe e tiated att ibutes have e abled its apid adoptio by physicia s a d patie ts si ce lau ch. We ca ow focus ou full atte tio a d esou ces o fu the g owi g the YUTREPIA b a d, with the goal of maki g it the p ostacycli the apy of choice i PAH, whethe patie ts a e sta ti g o switchi g f om a i haled the apy, t a sitio i g f om a o al p ostacycli , o de-escalati g f om pa e te al p ostacycli to i haled. A d simulta eously, we will co ti ue to build o ou ma ket positio th ough post-ma keti g studies of YUTREPIA, pivotal studies of L606 to suppo t PAH a d PH-ILD i dicatio s, a d ew studies to explo e ovel t eatme ts fo co ditio s like systemic scle osis-associated Ray aud’s phe ome o (SSc-RP) a d pulmo a y hype te sio associated with ch o ic obst uctive pulmo a y disease (PH-COPD), whe e o app oved optio s exist.”
The settleme t follows the Septembe 30, 2026, uli g by the U.S. Dist ict Cou t fo the Dist ict of Delawa e (the Cou t) that claims 1 a d 14 of U.S. Pate t No. 11,826,327 (the ’327 pate t) a e valid a d i f i ged by Liquidia. These claims ge e ally cove t eatme t of pulmo a y hype te sio associated with i te stitial lu g disease (PH-ILD) with i haled t ep osti il, i cludi g d y powde fo mulatio s. As pa t of the settleme t, Liquidia has ag eed ot to appeal the Cou t’s uli g. I additio , Liquidia has submitted a suppleme t to emove the PH-ILD i dicatio f om YUTREPIA’s label a d o lo ge p omotes it fo PH-ILD.
The settleme t i cludes mutual eleases a d is ot a admissio of liability by eithe pa ty. Followi g Liquidia’s i itial payme t, the pa ties will file stipulatio s to dismiss with p ejudice the followi g matte s as betwee UTHR a d Liquidia:
- U ited The apeutics Co po atio v. Liquidia Tech ologies, I c., C.A. No. 1:23-cv-00975 (D. Del.), elated to alleged i f i geme t of the ’327 pate t;
- U ited The apeutics Co po atio v. Liquidia Tech ologies, I c., C.A. No. 1:25-cv-00368 (M.D.N.C.), elated to alleged i f i geme t of U.S. Pate t No. 11,357,782;
- Liquidia Tech ologies, I c. v. U ited The apeutics Co po atio , C.A. No. 1:25-cv-00299 (M.D.N.C.), elated to alleged i f i geme t of U.S. Pate t No. 10,898,494;
- U ited The apeutics Co po atio a d Lu g Biotech ology PBC v. Liquidia Tech ologies, I c. a d Robe t Roscig o, No. 21CVS004094-310 (N.C. Supe . Ct.), elated to alleged misapp op iatio of t ade sec ets;
- U ited The apeutics Co po atio a d Lu g Biotech ology PBC v. Robe t Roscig o a d Liquidia Tech ologies, I c., No. 24CVS3755 (N.C. Supe . Ct.), elated to alleged b each of co t act; a d
- Sa doz I c. a d Ra eGe , LLC v. U ited The apeutics Co po atio a d Smiths Medical ASD, I c., No. 2:19-cv-1070 (D.N.J.), a d the elated appeals, Nos. 24-3067, 24-3116 a d 24-3146 (3d Ci .), elated to alleged a tit ust violatio s.
U de the ag eeme t, Liquidia will make a et payme t to UTHR of $175 millio withi 30 busi ess days. The et payme t i cludes fu ds paid by UTHR to Liquidia to esolve the a tit ust litigatio tied to T ep osti il I jectio . Liquidia will also pay $145.4 millio i two equal i stallme ts of $72.7 millio due o o befo e Ja ua y 31, 2027, a d Ap il 30, 2027, espectively.
I co ectio with the settleme t, Liquidia e te ed i to ag eeme ts with the pa ties with i te ests i the a tit ust litigatio elated to T ep osti il I jectio . U de those ag eeme ts, Liquidia will pay a agg egate of $60.3 millio this mo th i full satisfactio of those pa ties’ i te ests i the a tit ust litigatio . Co cu e tly, Liquidia te mi ated the p omotio al ag eeme t tied to T ep osti il I jectio a d will o lo ge comme cially suppo t the p oduct i the ma ket.
Michael Kaseta, Chief Ope ati g Office a d Chief Fi a cial Office , said: “We a e co fide t this settleme t is i the best i te ests of ou patie ts a d sha eholde s a d i ou ability to meet the settleme t obligatio s while co ti ui g to i vest i the busi ess. We expect to fu d the outli ed payme ts f om the o goi g sales of YUTREPIA a d cash o ha d. P elimi a y a d u audited esults f om the thi d qua te 2026 i cluded YUTREPIA et p oduct sales of $222.7 millio , co t ibuti g to total cash a d cash equivale ts of $396.1 millio as of Septembe 30, 2026. We expect to ebuild ou cash positio a d fu d ou pla ed cli ical studies without equi i g additio al fi a ci g.”
Liquidia will p ovide a b oade update o YUTREPIA’s pe fo ma ce, its fi a cial positio a d its pipeli e p io ities o its thi d-qua te 2026 ea i gs call i Novembe .
YUTREPIA is a i haled d y-powde fo mulatio of t ep osti il delive ed th ough a co ve ie t, low-effo t, palm-sized device. YUTREPIA was desig ed usi g Liquidia’s PRINT® tech ology, which e ables the developme t of d ug pa ticles that a e p ecise a d u ifo m i size, shape a d compositio , a d that a e e gi ee ed fo e ha ced depositio i the lu g followi g o al i halatio . YUTREPIA was app oved i 2025 fo the t eatme t of pulmo a y a te ial hype te sio (PAH). YUTREPIA is ot app oved fo the t eatme t of systemic scle osis-associated Ray aud’s phe ome o (SSc-RP) o pulmo a y hype te sio associated with ch o ic obst uctive pulmo a y disease (PH-COPD); it has eceived Fast T ack desig atio f om the FDA fo SSc-RP.
PAH is a a e, ch o ic, p og essive disease caused by ha de i g a d a owi g of the pulmo a y a te ies that ca lead to ight hea t failu e a d eve tually death. Cu e tly, a estimated 45,000 patie ts a e diag osed a d t eated i the U ited States. The e is cu e tly o cu e fo PAH, so the goals of existi g t eatme ts a e to alleviate symptoms, mai tai o imp ove fu ctio al class, delay disease p og essio a d imp ove quality of life.
Liquidia Co po atio is a biopha maceutical compa y d ive by scie ce a d compassio to evolutio ize ca e fo patie ts with challe gi g espi ato y a d vascula diseases. The compa y’s cu e t focus spa s the developme t a d comme cializatio of p oducts i pulmo a y hype te sio a d othe applicatio s of its p op ieta y PRINT® Tech ology. PRINT e abled the c eatio of YUTREPIA® (t ep osti il) i halatio powde , a d ug app oved i 2025 fo the t eatme t of PAH. YUTREPIA is cu e tly u de developme t fo othe i dicatio s, i cludi g SSc-RP a d PH-COPD. The compa y is also developi g L606, a i vestigatio al exte ded- elease fo mulatio of t ep osti il admi iste ed twice daily with a ext-ge e atio ebulize . To lea mo e about Liquidia, please visit www.liquidia.com.
This p ess elease may i clude fo wa d-looki g stateme ts withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995. All stateme ts co tai ed i this p ess elease othe tha stateme ts of histo ical facts, i cludi g stateme ts ega di g the settleme t ag eeme t a d its a ticipated be efits; the amou t, timi g a d fu di g of payme ts u de the settleme t ag eeme t a d the ag eeme ts with Sa doz I c., He de so SPV, LLC, a d PBM RG Holdi gs, LLC; the t a sfe of comme cial ights elated to T ep osti il I jectio to Sa doz; the fili g a d e t y of dismissals of the pe di g litigatio ; the timi g a d outcome of FDA eview of the P io App oval Suppleme t to emove the PH-ILD i dicatio f om the YUTREPIA label; the impact of ceasi g PH-ILD p omotio a d sales o YUTREPIA eve ue; co ti ued availability of YUTREPIA fo patie ts with PAH; ou futu e esults of ope atio s, fi a cial positio a d cash esou ces; a d ou developme t pla s fo L606 a d fo YUTREPIA i SSc-RP, PH-COPD o othe i dicatio s, a e fo wa d-looki g stateme ts. These stateme ts i volve sig ifica t isks a d u ce tai ties, a d actual esults could diffe mate ially f om those exp essed o implied he ei . Amo g othe thi gs, the settleme t ag eeme t does ot exte d to i dicatio s othe tha PAH o to ew t ep osti il-co tai i g p oducts, a d U ited The apeutics may asse t pate ts agai st ou developme t p og ams o futu e p oducts. Fast T ack desig atio does ot gua a tee that YUTREPIA will eceive FDA app oval fo the t eatme t of SSc-RP o that developme t will p oceed o the a ticipated timeli e. The wo ds “a ticipate,” “believe,” “co ti ue,” “could,” “estimate,” “expect,” “i te d,” “may,” “pla ,” “pote tial,” “p edict,” “p oject,” “should,” “ta get,” “would,” a d simila exp essio s a e i te ded to ide tify fo wa d-looki g stateme ts. We have based these fo wa d-looki g stateme ts la gely o ou cu e t expectatio s a d p ojectio s about futu e eve ts a d fi a cial t e ds that we believe may affect ou fi a cial co ditio , esults of ope atio s, busi ess st ategy, sho t-te m a d lo g-te m busi ess ope atio s a d objectives a d fi a cial eeds. These fo wa d-looki g stateme ts a e subject to a umbe of isks discussed i ou fili gs with the SEC, as well as a umbe of u ce tai ties a d assumptio s. Mo eove , we ope ate i a ve y competitive a d apidly cha gi g e vi o me t a d ou i dust y has i he e t isks. New isks eme ge f om time to time. It is ot possible fo ou ma ageme t to p edict all isks, o ca we assess the impact of all facto s o ou busi ess o the exte t to which a y facto , o combi atio of facto s, may cause actual esults to diffe mate ially f om those co tai ed i a y fo wa d-looki g stateme ts we may make. I light of these isks, u ce tai ties a d assumptio s, the futu e eve ts discussed i this p ess elease may ot occu a d actual esults could diffe mate ially a d adve sely f om those a ticipated o implied i the fo wa d-looki g stateme ts. Nothi g i this p ess elease should be ega ded as a ep ese tatio by a y pe so that these goals will be achieved, a d we u de take o duty to update ou goals o to update o alte a y fo wa d-looki g stateme ts, whethe as a esult of ew i fo matio , futu e eve ts o othe wise.
The estimated p elimi a y u audited fi a cial i fo matio fo the pe iod e ded Septembe 30, 2026 i cluded i this p ess elease may co tai fo wa d-looki g stateme ts that a e based o i fo matio available to the Compa y as of the date of this p ess elease. The Compa y’s fi a cial closi g a d eview p ocedu es fo the pe iod e ded Septembe 30, 2026 a e ot yet complete, a d actual esults may diffe f om these p elimi a y estimates as a esult of fi al accou ti g adjustme ts, the completio of i te al co t ol p ocesses, a d othe developme ts that may a ise p io to the fi alizatio of the Compa y’s fi a cial stateme ts. The p elimi a y fi a cial i fo matio i cluded i this elease have ot bee eviewed by the Compa y’s i depe de t egiste ed public accou ti g fi m a d should ot be co side ed a substitute fo the Compa y’s u audited i te im fi a cial stateme ts. Acco di gly, u due elia ce should ot be placed o this p elimi a y i fo matio .
