Liquidia appoints Dana Boyle as chief accounting officer

Liquidia Corporation (NASDAQ:LQDA), a biopharmaceutical company with a current market capitalization of $1.03 billion, announced Monday that its board of directors has appointed Dana Boyle as chief accounting officer, effective the same day, according to a statement based on a Securities and Exchange Commission filing. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 2.93, though it reported losses of $138.68 million in the last twelve months.

Boyle, 41, previously served as Liquidia’s senior vice president of finance and controller since January 2021. Before joining Liquidia, she was controller at Aerami Therapeutics, a private biotech company, from February 2019 to January 2021. Prior to that, she was director of financial planning and analysis at Aralez Pharmaceuticals Inc. from September 2017 to October 2018. Boyle began her career as an auditor at Deloitte & Touche LLP and holds a Bachelor of Science in accounting from Rutgers University. She is a certified public accountant licensed in New York.

In connection with her appointment, Boyle will receive an annual base salary of $425,000 and is eligible for a discretionary annual cash bonus equal to 50% of her base salary. She was also granted restricted stock units (RSUs) valued at $300,000 under the company’s 2020 Long-Term Incentive Plan. The RSUs vest as follows: 25% on July 11, 2026, with the remainder vesting in equal quarterly installments over the following three years, contingent on continued employment.

Boyle is eligible for severance benefits under the company’s Amended and Restated Executive Severance and Change in Control Plan. In the event of involuntary termination outside of a change in control period, she is entitled to accrued obligations, 12 months of base salary paid over a year, and employer-paid COBRA premiums for 12 months. If involuntary termination occurs within a change in control period, she is eligible for accrued obligations, 12 months of base salary and target annual incentive paid within 60 days, accelerated vesting of all unvested equity, and a lump sum COBRA payment.

The company stated that Boyle has no family relationships with any director or executive officer and was not appointed pursuant to any arrangement or understanding with any other person. Liquidia’s common stock is listed on the Nasdaq Stock Market under the symbol LQDA.

In other recent news, Liquidia Corporation has secured $50 million in funding from Healthcare Royalty following a favorable court ruling and the first commercial sale of its pulmonary hypertension treatment, YUTREPIA. The U.S. District Court denied United Therapeutics (NASDAQ:UTHR)’ request for an injunction against Liquidia, allowing the company to proceed with its commercial plans. This funding is part of a larger agreement, with a total potential of $200 million, contingent on future sales milestones. Additionally, Raymond (NSE:RYMD) James has reiterated a Strong Buy rating for Liquidia, maintaining a $33 price target despite emerging competition in the pulmonary arterial hypertension market. Meanwhile, BTIG analysts have raised Liquidia’s stock price target to $45, citing the full FDA approval of YUTREPIA and recent legal victories. The company has also announced its first commercial shipment of YUTREPIA, marking a significant milestone as it becomes available through specialty pharmacies. This rapid mobilization follows the denial of legal actions from United Therapeutics, clearing the way for Liquidia’s commercial launch. These developments reflect Liquidia’s progress in both regulatory and commercial arenas, bolstering investor confidence.

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