LQDA - Liquidia a buy at Ladenburg on pulmonary arterial hypertension inhaler; sees 198% upside

• Ladenburg Thalmann has initiated Liquidia Corp. ( NASDAQ: LQDA ) with a buy citing the potential of the company's lead asset, Yutrepia, for pulmonary arterial hypertension (PAH).
• Shares are up 7% in Friday morning trading.
• Yutrepia is a dry inhalation powder version of treprostinil.
• The firm has a $15 price target (~198% upside based on Thursday's close)
• Analyst Matthew Kaplan said that Yutrepia's portability, titratability, tolerability, and durability could distinguish it from United Therapeutics' ( NASDAQ: UTHR ) Tyvaso, which also contains treprostinil and is approved for PAH.
• He added that Liquidia's technology allows for uniformity in the size and shape of inhaled particles, allowing for more targeted delivery into the lower airways in one or two breaths.
• Although Yutrepia received tentative U.S. FDA approval in November 2021, launch has been delayed due to a patent dispute with United Therapeutics ( UTHR ). However, a patent court recently sided with Liquidia ( LQDA ), setting the stage for a potential launch by the end of the year.

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