Liquidia Corp (LQDA) investor relations material

Pipeline overview and program updates

• Focus on inhaled treprostinil therapies for PH and PH ILD, with Eutrebia/Yutrepia as the current best-in-class and L-606 as the next-generation sustained-release formulation.

• Eutrebia/Yutrepia, a dry-powder treprostinil, received FDA approval in May 2025 for PAH and PH ILD.

• L-606, a liposomal sustained-release formulation, is advancing through clinical development with a pivotal Phase III trial planned.

• The company has partnered with Pharmoza for L-606 and Philips MetaSize for the FOX vibrating mesh nebulizer device.

• Emphasis on optimizing drug delivery, dose flexibility, and patient compliance through advanced formulation and device design.

Clinical trial data and development milestones

• ASCENT study in PH ILD showed high-dose, rapid titration of Eutrebia/Yutrepia with improved six-minute walk distance (+41m at 24 weeks) and strong tolerability.

• L-606 open-label 48-week study: 24 patients completed, most maintained or improved six-minute walk distance, with minimal side effects and 14% cough incidence.

• L-606 demonstrated a sevenfold lower Cmax than Tyvaso, reducing systemic side effects and cough incidence.

• Phase III RESPIRE study for L-606 in PH ILD is set to enroll 344 patients globally, with endpoints focused on six-minute walk distance and durability.

• L-606 pivotal trial design incorporates FDA and EMA feedback, requiring three data sets for approval.

R&D strategy and innovation priorities

• Emphasis on proprietary PRINT and liposomal technologies to enhance lung targeting, dose flexibility, and patient compliance.

• Commitment to developing twice-daily regimens for sustained exposure and better disease control.

• Focus on real-world usability, including device portability, ease of use, and cleaning.

• Innovation in device design (e.g., FOX vibrating mesh nebulizer) to improve portability and ease of use.