Liquidia Corp.
- LQDA · Nasdaq
- Pharmaceutical Preparations
- Morrisville, NC
- 216 employees
- CIK 0001819576
Updated from SEC filings through
Top things to know
Executives
- Roger Jeffs Chief Executive Officer 4, 2026-07-14
-
Michael Kaseta CFO and COO 4, 2026-07-14 -
Sarah Krepp Chief Human Resource Officer 4, 2026-09-03 -
Jason Adair Chief Business Officer 4, 2026-08-25 - Rajeev Saggar Chief Medical Officer 4, 2026-08-19
-
Dana Boyle Chief Accounting Officer 4, 2026-07-29
Liquidia Corp is a U.S. public company in pharmaceutical preparations (SIC 2834), headquartered in Morrisville, NC. It trades as LQDA on Nasdaq. Revenue was $158M in the fiscal year ending December 31, 2025, +1031.2% from the year before. It reported about 216 employees. Roger Jeffs is Chief Executive Officer.
Five-year financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $158M 10-K, 2026-03-05 | $14.0M 10-K, 2026-03-05 | $17.5M 10-K, 2026-03-05 | $15.9M 10-K, 2024-03-13 | $12.9M 10-K, 2023-03-20 |
| Operating income | -$51.4M 10-K, 2026-03-05 | -$121M 10-K, 2026-03-05 | -$73.4M 10-K, 2026-03-05 | -$38.8M 10-K, 2024-03-13 | -$33.8M 10-K, 2023-03-20 |
| SG&A | $157M 10-K, 2026-03-05 | $81.6M 10-K, 2026-03-05 | $44.7M 10-K, 2026-03-05 | $32.4M 10-K, 2024-03-13 | $23.1M 10-K, 2023-03-20 |
| Net income | -$68.9M 10-K, 2026-03-05 | -$128M 10-K, 2026-03-05 | -$78.5M 10-K, 2026-03-05 | -$41.0M 10-K, 2024-03-13 | -$34.6M 10-K, 2023-03-20 |
Annual figures from XBRL in each company's own filings. Click a figure to open the filing. SG&A marked derived is general and administrative plus selling and marketing.
Leadership and board
| Name | Title | Source |
|---|---|---|
| Roger Jeffs Chief Executive Officer @ Liquidia Corporation | Biotechnology, Pharmaceutical Industry | Chief Executive Officer | 4, 2026-07-14 |
| Roger A. Jeffs, Ph.D. | Board member (per proxy) bio: Chief Executive Officer and Director | DEF 14A, 2026-04-24 |
| Michael Kaseta | CFO and COO | 4, 2026-07-14 |
| Sarah Krepp | Chief Human Resource Officer | 4, 2026-09-03 |
| Jason Adair | Chief Business Officer | 4, 2026-08-25 |
| Rajeev Saggar Chief Medical Officer, Liquidia Corporation | Chief Medical Officer | 4, 2026-08-19 |
| Dana Boyle | Chief Accounting Officer | 4, 2026-07-29 |
 Scott Moomaw Chief Commercial Officer at Liquidia Technologies | Chief Commercial Officer | 4, 2026-07-14 |
| Sanjeev Khindri | Chief Development Officer | 4, 2026-07-14 |
| Sanjeev Khindri, MB, ChB | Named in proxy bio: Chief Development Officer | DEF 14A, 2026-04-24 |
| Russell Schundler | General Counsel | 4, 2026-07-14 |
What Liquidia Corp does
We are a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases such as pulmonary arterial hypertension (“PAH”) and pulmonary hypertension associated with interstitial lung disease (“PH-ILD”). We operate through our wholly owned operating subsidiaries, Liquidia Technologies, Inc. and Liquidia PAH, LLC, formerly known as RareGen.
Item 1. Business, 10-K for the year ending December 31, 2025
Shares and governance
| Shares outstanding | 89.5 million (as of July 29, 2026) | 10-Q, August 12, 2026 |
|---|---|---|
| Public float | $847M (as of June 30, 2025) | 10-K, March 5, 2026 |
| Reportable segments | 1 (period ending June 30, 2026) | 10-Q, August 12, 2026 |
| Latest proxy statement | Meeting June 16, 2026 (filed April 24, 2026) | DEF 14A, April 24, 2026 |
| Auditor | PricewaterhouseCoopers LLP (Raleigh, North Carolina) | Latest 10-K |
Insider trades
Open-market buys and sales by officers and directors, from Forms 4 and 5. One row per filing.
| Date | Insider | Trade | Shares | Value | Source |
|---|---|---|---|---|---|
| October 26, 2026 | Dana Boyle Chief Accounting Officer | Sale | 1,581 | $68K | Form 4, October 28, 2026 |
| October 26, 2026 | Jason Adair Chief Business Officer | Sale | 688 | $30K | Form 4, October 28, 2026 |
| October 12, 2026 | Russell Schundler General Counsel | Sale | 13,692 | $390K | Form 4, October 13, 2026 |
| October 12, 2026 | Rajeev Saggar Chief Medical Officer | Sale | 9,218 | $263K | Form 4, October 13, 2026 |
| October 12, 2026 | Scott Moomaw Chief Commercial Officer | Sale | 8,863 | $252K | Form 4, October 13, 2026 |
| October 12, 2026 | Sarah Krepp Chief Human Resource Officer | Sale | 5,245 | $149K | Form 4, October 13, 2026 |
| October 12, 2026 | Sanjeev Khindri Chief Development Officer | Sale | 1,101 | $31K | Form 4, October 13, 2026 |
| October 12, 2026 | Michael Kaseta CFO and COO | Sale | 18,938 | $539K | Form 4, October 13, 2026 |
Recent 8-K events
- 8-K filed 2026-10-14
- Item 1.01 Entry into a material definitive agreement
- Item 1.02 Termination of a material definitive agreement
- Item 7.01 Regulation FD disclosure
- Item 8.01 Other events
- 8-K filed 2026-09-30
- Item 8.01 Other events
- 8-K filed 2026-09-03
- Item 8.01 Other events
- 8-K filed 2026-08-12
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 8.01 Other events
- 8-K filed 2026-06-17
- Item 5.07 Submission of matters to a vote of security holders
- 8-K filed 2026-06-08
- Item 8.01 Other events
- 8-K filed 2026-05-11
- Item 2.02 Results of operations and financial condition (earnings release)
- Item 8.01 Other events
- 8-K filed 2026-03-05
- Item 2.02 Results of operations and financial condition (earnings release)
- 8-K filed 2026-01-09
- Item 7.01 Regulation FD disclosure
- 8-K filed 2025-11-03
- Item 2.02 Results of operations and financial condition (earnings release)
Frequently asked questions about Liquidia Corp
- What does Liquidia Corp do?
- In its own words, from Item 1 of its 10-K: "We are a biopharmaceutical company driven by science and compassion to revolutionize care for patients with challenging respiratory and vascular diseases such as pulmonary arterial hypertension (“PAH”) and pulmonary hypertension associated with interstitial lung disease (“PH-ILD”). We operate through our wholly owned operating subsidiaries, Liquidia Technologies, Inc. and Liquidia PAH, LLC, formerly known as RareGen."
- What is Liquidia Corp's revenue?
- $158M for the fiscal year ending December 31, 2025, from its 10-K filed March 5, 2026.
- Is Liquidia Corp profitable?
- Liquidia Corp reported net income of -$68.9M for the fiscal year ending December 31, 2025.
- How many employees does Liquidia Corp have?
- About 216 as of December 31, 2025, as stated in its annual report.
- Who is the CEO of Liquidia Corp?
- Roger Jeffs, Chief Executive Officer, as named in a 4 filed July 14, 2026.
- Who is the CFO of Liquidia Corp?
- Michael Kaseta, CFO and COO, as named in a 4 filed July 14, 2026.
- Where is Liquidia Corp headquartered?
- Morrisville, NC.
- What is Liquidia Corp's stock ticker?
- LQDA on Nasdaq.
- What industry is Liquidia Corp in?
- Pharmaceutical Preparations, SIC code 2834.
- What is Liquidia Corp's website?
- liquidia.com.
- When does Liquidia Corp report earnings next?
- November 10, 2026. Source: pg_earnings_events.
- Is Liquidia Corp a public company?
- Yes. Liquidia Corp files with the SEC under CIK 0001819576 and trades as LQDA.
- Who audits Liquidia Corp?
- PricewaterhouseCoopers LLP, Raleigh, North Carolina, as named in its latest annual report (10-K).
- How many shares of Liquidia Corp are outstanding?
- 89.5 million shares as of July 29, 2026, from its 10-Q filed August 12, 2026.
- What is Liquidia Corp's public float?
- $847M as of June 30, 2025, as reported on the cover of its 10-K filed March 5, 2026.
- How many business segments does Liquidia Corp report?
- 1 reportable segment for the period ending June 30, 2026, from its 10-Q filed August 12, 2026.
- When is Liquidia Corp's annual shareholder meeting?
- June 16, 2026, per its proxy statement (DEF 14A) filed April 24, 2026.
- Have Liquidia Corp insiders traded stock recently?
- Since May 19, 2026, officers and directors reported 46 open-market sales worth about $161M and 2 purchases worth about $636K on Forms 4 and 5. The most recent: Dana Boyle (Chief Accounting Officer) sold 1,581 shares on October 26, 2026.