Liquidia Corp 2026年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934For the fiscal quarter ended March31,2026 or ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934For the transition period from to Commission File Number: 001-39724 LIQUIDIA CORPORATION(Exact Name of Registrant as Specified in Its Charter) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Smaller Reporting Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No☒ As of May 1, 2026, there were 88,928,099 shares of the registrant’s common stock outstanding. LIQUIDIA CORPORATION PARTI. FINANCIAL INFORMATION Item 1.Condensed Financial Statements (unaudited)5Condensed Consolidated Balance Sheets as of March 31, 2026 and December 31,20255Condensed Consolidated Statements of Operations and Comprehensive Loss for theThree Months Ended March 31, 2026 and 20256Condensed Consolidated Statements of Stockholders’ Equity for the Three MonthsEnded March 31, 2026 and 20257Condensed Consolidated Statements of Cash Flows for the Three Months EndedMarch 31, 2026 and 20258Notes to Condensed Consolidated Financial Statements9Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations36Item 3.Quantitative and Qualitative Disclosures About Market Risk44Item 4.Controls and Procedures45PART II. OTHER INFORMATIONItem 1.Legal Proceedings46Item 1A.Risk Factors46Item 2.Unregistered Sales of Equity Securities and Use of Proceeds96Item 3.Defaults Upon Senior Securities96Item 4.Mine Safety Disclosures96Item 5.Other Information96Item 6.Exhibits97Signatures97 This Quarterly Report on Form10-Q, includes our trademarks, trade names and service marks, such asLiquidia, the Liquidia logo, YUTREPIA and PRINT, which are protected under applicable intellectualproperty laws and are the property of Liquidia Technologies, Inc. This Quarterly Report on Form 10-Qalso contains trademarks, trade names and service marks of other companies, which are the property oftheir respective owners. Solely for convenience, trademarks, trade names and service marks referred to inthis Quarterly Report on Form 10-Q may appear without the ®, ™ orSMsymbols, but such references arenot intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, ourrights or the right of the applicable licensor to these trademarks, trade names and service marks. We do notintend our use or display of other parties’ trademarks, trade names or service marks to imply, and such useor display should not be construed to imply, a relationship with, or endorsement or sponsorship of us by,these other parties. Cautionary NoteRegarding Forward-Looking Statements This Quarterly Report on Form10-Q contains forward-looking statements. All statements other thanstatements of historical facts contained in this Quarterly Report on Form 10-Q may be forward-lookingstatements. We intend such forward-looking statements to be subject to the safe harbor provisions of thePrivate Securities Litigation Reform Act of 1995, including Section 27A of the Securities Act of 1933, asamended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”). The forward-looking statements are contained principally in the sections entitled “RiskFactors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,”but are also contained elsewhere in this Quarterly Report on Form 10-Q. In some cases, you can identifyforward-looking statements by terms such as “anticipates,” “believes,” “contemplates,” “continu