LQDA - Liquidia initiated Buy at BofA on upcoming rival to United Therapeutics

Bank of America launched its coverage on Liquidia Corporation (NASDAQ:LQDA) with a Buy rating after the developer of lung disease drug Yutrepia recently suffered a major setback when a rival therapy from United Therapeutics (UTHR) and MannKind (MNKD) won the FDA approval. The company shares plunged after the FDA approved United’s (UTHR) marketing application for Tyvaso DPI. The full approval for Yutrepia depends on the outcome of a trial evaluating if Liquidia (LQDA) had breached certain patents of the rival. The decision expected in Aug. 2022 would lead to the launch of Yutrepia, the analysts led by Greg Harrison argue, pointing out that the drug outperforms Tyvaso DPI with “a more functional, and low-resistance delivery device.” “…even with minority market share the stock looks compelling to us,” the analysts added, noting that Liquidia (LQDA) is trading at a level implying little value to Yutrepia, with potential upside expected subject to FDA

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Liquidia initiated Buy at BofA on upcoming rival to United Therapeutics