Liquidia Corporation (LQDA) stock plummeted 12.60% in the current-market trading session at the price of $5.41 after proposing a public offering of its common stock shares.
LQDA is a biopharmaceutical firm that develops products using its proprietary PRINT technology. The company has devised YUTREPIA inhalation powder to treat pulmonary arterial hypertension. PAH platform commercializes pharmaceutical products for rare disease patients.
LQDA Proposed Public Offering
On 12th April 2022, LQDA announced to initiate the public offering of its 9,803,922 common stock shares. Additionally, LQDA anticipates granting the underwriters an option to buy an additional 15 percent of the common stock shares at the public price. The shares had been offered at the public offering price of UE$5.10 for gross proceeds of roughly US$50.0M before subtracting underwriting discounts and other expenses.
The shares are being offered under the shelf registration statement on Form S-3 filed previously with the SEC on 16th December 2020 and became effective on 23rd December 2020. The offering is subject to market closing conditions, and there are no details about the closure, actual size, and conditions of the offering. BofA Securities is serving as the only book-running supervisor for the proposed public offering.
LQDA Market Outlook
LQDA stock had achieved its maximum objectives last year by growing sales of its Treprostinil injection and acquiring approval for YUTREPIA. Currently, the firm is advancing its position in the current Hatch-Waxman case and bolstering the balance sheet. The company is expecting to deliver YUTREPIA to all PAH patients by 2022. Looking onwards, LQDA expects to earn over US$1B from inhaled treprostinil as the demand for the product inflates.
Over the last 90 days, the LQDA’s earnings have moved 10.5 percent higher. In the past 52 weeks, the company’s shares were risen up to 129.24 percent, indicating a positive performance trend. That’s the reason the stock is grabbing the attention of multiple investors.