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Scott Moomaw, the Chief Commercial Officer of Liquidia Corp (NASDAQ:LQDA), has recently sold shares of the company valued at $98,504. The transaction, which took place on January 14, involved the sale of 8,362 shares at a price of $11.78 per share. The sale price was slightly above InvestingPro's Fair Value estimate, with analysts setting price targets ranging from $17 to $31.
This sale was conducted under a pre-established Rule 10b5-1 trading plan, which Moomaw adopted on December 15, 2023. According to the filing, the shares were sold to cover taxes associated with the settlement of restricted stock units (RSUs) that were initially granted in January 2023 and January 2024. The company, currently valued at nearly $967 million, maintains strong liquidity with a healthy current ratio of 6.33x.
Following this transaction, Moomaw holds 215,494 shares of Liquidia's common stock. This includes various unvested RSUs and shares acquired under the company's 2020 Employee Stock Purchase Plan. InvestingPro subscribers can access 10+ additional exclusive insights about LQDA's financial health, valuation metrics, and growth prospects through the comprehensive Pro Research Report.
In other recent news, Liquidia Corporation reported a rise in its Q3 revenue, reaching $4.4 million, an increase from the previous year's $3.7 million. However, the company also reported a net loss of $23.2 million. Despite this, Liquidia maintains a robust cash position, with $204.4 million in reserves. The company is making strides towards the launch of its inhaled treatment, YUTREPIA, for pulmonary arterial hypertension and pulmonary hypertension associated with interstitial lung disease. The launch is anticipated post the expiration of TYVASO DPI's exclusivity in May 2025. Liquidia is also progressing with the development of a next-generation nebulizer and preparing for a pivotal study of their product L606. These recent developments underline Liquidia's commitment to innovation and patient care.
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