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Liquidia Corp (NASDAQ:LQDA) Chief Financial Officer and Chief Operating Officer Michael Kaseta recently executed transactions involving the company’s common stock, according to a filing with the Securities and Exchange Commission. On March 3, Kaseta sold 874 shares of Liquidia Corp at a price of $15.45 per share, totaling $13,503. The transaction comes as the stock trades near its 52-week high of $16.99, having gained over 66% in the past six months. According to InvestingPro analysis, the company’s current market capitalization stands at $1.28 billion.
Prior to this, on February 28, Kaseta acquired 2,344 shares through the conversion of Restricted Stock Units (RSUs) into common stock. The RSUs were part of a grant initially awarded on January 16, 2022, with vesting scheduled over a period extending to February 28, 2025.
Following these transactions, Kaseta holds 404,598 shares of Liquidia Corp common stock. The sale of shares on March 3 was executed under a pre-arranged trading plan adopted on December 15, 2023, to cover taxes associated with the settlement of RSUs.
In other recent news, Liquidia Corporation encountered a legal challenge when the U.S. District Court for the District of Columbia ruled against its lawsuit concerning the FDA’s decision to grant regulatory exclusivity to Tyvaso DPI, a product of United Therapeutics (NASDAQ:UTHR) Corporation. The court’s decision denied Liquidia’s motion for summary judgment while granting those filed by the FDA and United Therapeutics, thus upholding the exclusivity for Tyvaso DPI until May 23, 2025. Additionally, United Therapeutics has filed a cross claim questioning the FDA’s acceptance of Liquidia’s amended New Drug Application for review. Liquidia and the FDA have moved to dismiss this cross claim, but the court has not yet ruled on these motions. This legal development affects Liquidia’s competitive stance in the market, as it aimed to challenge the exclusivity granted to Tyvaso DPI. The information is drawn from official statements and legal documents, ensuring an accurate representation of the situation without speculative commentary.
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