At the last check, shares of Liquidia Corp. (LQDA) were trading $5.94 apiece in the premarket with a huge gain of 15.56%. The stock seems to be gaining after the news of the transition of the Chief Executive Officer of the company.
During the previous market session, the stock gained 5.54% at its closing price of $5.14 on Monday. At the time of writing, the stock had added a further $0.99 in the premarket session.
Currently, the 51.98 million outstanding shares of Liquidia Corp. trade at a market capitalization of $253.13 million. Moreover, LQDA stock has added 13.72% in the past five days, while it gained 76.03% in the past year.
LQDA’s CEO Transition
On January 03, the company announced the appointment of Dr. Roger Jeffs as the CEO of LQDA, effective January 3, 2022. Moreover, Dr. Jeffs will also continue serving as a director on the company’s board. Furthermore, Dr. Jeffs succeeded Damian deGoa who will continue providing transition support to the new CEO till January 31, 2022. In addition, Mr. deGoa will continue being a director of the company.
Dr. Jeffs served as the President and co-CEO at United Therapeutics Corporation till 2016. Before that, he also served in clinical development roles at Amegn, Inc. and Burroughs Wellcome Co. Moreover, he is the Vice-Chairman and co-founder of Kryia Therapeutics. In addition to LQDA, Dr. Jeffs is also serving on the board of Axsome Therapeutics currently.
Furthermore, Dr. Jeffs has also served on the boards of various pharmaceutical companies including United Therapeutics (2001 – 2016), Dova Pharmaceuticals (2017 – 2019), Sangamo Therapeutics (2017 – 2019), Axovant Gene Therapies (2017 – 2019), and Albireo Pharma (2017 – 2021).
Financial Analysis
On November 04, the company announced its financial results for the third quarter of 2021, which ended on September 30.
In the third quarter of 2021, LQDA generated a revenue of $3.2 million while it had no revenues in the same quarter last year. The revenue in 2021 was essentially due to the promotion agreement with Sandoz Inc., following the Liquidia PAH acquisition.
Moreover, the company suffered a net loss of $7.3 million in the third quarter of 2021, against $15.0 million in Q3 of 2020. Consequently, the net loss per basic and diluted share was $0.14 in the third quarter of 2021 against that of $0.40 in Q3 of 2020.
