- Liquidia is a biotech focused on the Pulmonary Arterial Hypertension space.
- It jointly markets a generic version of Treprostinil with Sandoz - part of Novartis, and has an inhaled form which could be approved by the FDA next month.
- Competition from market incumbent United Therapeutics is fierce, however, and litigation will likely prevent Liquidia from bringing LIQ861 to market until late 2022.
- By then, it could be too late for the company, given United has more therapies in the pipeline, and Merck is about to join the fight for market share.
- PAH is a $1.5bn market, and $100m of annual revenues could be transformative for Liquidia, given its <$200m market cap. Investors may find that the risk/reward is too high, however.
For further details see:
Liquidia: If FDA Approves PAH Therapy Next Month, Share Price Uplift Isn't Guaranteed