Liquidia Corporation

NasdaqCM:LQDA Stock Report

Market Cap: US$7.1b

Liquidia Management

Management criteria checks 4/4

Liquidia's CEO is Roger Jeffs, appointed in Jan 2022, has a tenure of 4.5 years. total yearly compensation is $7.71M, comprised of 10.7% salary and 89.3% bonuses, including company stock and options. directly owns 2.03% of the company’s shares, worth $143.18M. The average tenure of the management team and the board of directors is 3 years and 6.8 years respectively.

Key information

Roger Jeffs

Chief executive officer

US$7.7m

Total compensation

CEO salary percentage10.68%
CEO tenure4.5yrs
CEO ownership2.0%
Management average tenure3yrs
Board average tenure6.8yrs

Recent management updates

Recent updates

Narrative Update • Jun 26

LQDA: Legal Outcomes And Earnings Power Will Shape The Next Phase

Analysts have lifted the updated fair value estimate for Liquidia to $72.38 from $44.00, as higher assumed profit margins, a lower future P/E multiple, and evolving views on legal and earnings risk reshape their price target frameworks. Analyst Commentary Recent Street research on Liquidia highlights a mix of enthusiasm around potential earnings power and caution around legal outcomes, which together shape how analysts think about valuation and execution risk.
Analysis Article • Jun 16

Liquidia (LQDA) Stock Could Be 63.2% Overvalued After PHA 2026 YUTREPIA Update

Liquidia (LQDA) is back in focus after the company outlined four new poster presentations at the PHA 2026 International PH Conference, spotlighting fresh YUTREPIA data and broader pulmonary hypertension care insights. See our latest analysis for Liquidia. The PHA 2026 conference update comes at a time when Liquidia’s momentum has been strong, with a 30 day share price return of 26.12% and a 5 year total shareholder return of 2,737.94%. Together, these figures point to sentiment that has...
Analysis Article • May 13

Upgrade: Analysts Just Made A Captivating Increase To Their Liquidia Corporation (NASDAQ:LQDA) Forecasts

Shareholders in Liquidia Corporation ( NASDAQ:LQDA ) may be thrilled to learn that the analysts have just delivered a...
Seeking Alpha • Jan 06

Liquidia: Big Q3 Sales Print, But Voucher Starts And Inventory Can Distort Optics

Summary Liquidia (LQDA) has rebounded with YUTREPIA's FDA approval and $51.7M in Q3 net product sales, but valuation remains fragile. Current sales and script numbers are influenced by channel inventory, GTN estimates, and free voucher programs, casting uncertainty on true patient demand and revenue durability. Litigation risk persists, particularly regarding United Therapeutics' patents, with outcomes that could significantly impact YUTREPIA's commercial footprint. I maintain a Sell rating on LQDA, citing unresolved litigation, uncertain real-world uptake, and a valuation that prices in substantial future success. Read the full article on Seeking Alpha
Analysis Article • Dec 06

Liquidia Corporation (NASDAQ:LQDA) Looks Just Right With A 30% Price Jump

Liquidia Corporation ( NASDAQ:LQDA ) shares have had a really impressive month, gaining 30% after a shaky period...
Analysis Article • Aug 09

Is Liquidia (NASDAQ:LQDA) Weighed On By Its Debt Load?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Seeking Alpha • Jan 31

Liquidia Corporation's Long-Running Saga Is Coming To An End

Summary Today, we are circling back on Liquidia Corporation, as its long-running litigation battle with United Therapeutics is finally coming to a positive end. This means we will likely see the full commercial launch of its primary candidate, YUTREPIA before the end of the second market. YUTREPIA is targeting a large potential market and could garner significant market share. An updated analysis around Liquidia Corporation follows in the paragraphs below. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Roger Jeffs's remuneration changed compared to Liquidia's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

US$22m

Dec 31 2025US$8mUS$824k

-US$69m

Sep 30 2025n/an/a

-US$124m

Jun 30 2025n/an/a

-US$152m

Mar 31 2025n/an/a

-US$137m

Dec 31 2024US$7mUS$800k

-US$128m

Sep 30 2024n/an/a

-US$117m

Jun 30 2024n/an/a

-US$102m

Mar 31 2024n/an/a

-US$97m

Dec 31 2023US$5mUS$689k

-US$79m

Sep 30 2023n/an/a

-US$58m

Jun 30 2023n/an/a

-US$51m

Mar 31 2023n/an/a

-US$37m

Dec 31 2022US$11mUS$325k

-US$41m

Sep 30 2022n/an/a

-US$46m

Jun 30 2022n/an/a

-US$44m

Mar 31 2022n/an/a

-US$41m

Dec 31 2021US$93kn/a

-US$35m

Sep 30 2021n/an/a

-US$39m

Jun 30 2021n/an/a

-US$47m

Mar 31 2021n/an/a

-US$54m

Dec 31 2020US$89kn/a

-US$60m

Compensation vs Market: Roger's total compensation ($USD7.71M) is about average for companies of similar size in the US market ($USD8.38M).

Compensation vs Earnings: Roger's compensation has been consistent with company performance over the past year.

CEO

Roger Jeffs (64 yo)

4.5yrs
Tenure
US$7,712,736
Compensation

Dr. Roger A. Jeffs, Ph D., serves as Director at Liquidia Corporation (formerly known as Liquidia Technologies, Inc.) since November 2020 and serves as its Chief Executive Officer from January 3, 2022. He...

Leadership Team

NamePositionTenureCompensationOwnership
Roger Jeffs
CEO & Director4.5yrsUS$7.71m2.03%
$ 143.2m
Michael Kaseta
COO & CFO5.7yrsUS$4.16m0.15%
$ 10.4m
Russell Schundler
General Counsel & Corporate Secretary5.3yrsUS$3.67m0.51%
$ 36.1m
Scott Moomaw
Chief Commercial Officer5.7yrsUS$2.68m0.075%
$ 5.3m
Rajeev Saggar
Chief Medical Officer4yrsUS$2.92m0.057%
$ 4.1m
Dana Boyle
Chief Accounting Officer1yrno data0.064%
$ 4.6m
Christian Font
Senior VP1yrno datano data
Michael Post
Senior Vice President of Marketing1.5yrsno datano data
Matt Snow
Senior Vice President of Sales1.5yrsno datano data
Sarah Krepp
Chief Human Resources Officer3.1yrsno data0.0069%
$ 488.3k
Jason Adair
Chief Business Officer3yrsno data0.13%
$ 9.5m
Michael Hunter
Senior Vice President of Manufacturing Operations2.5yrsno datano data
3.0yrs
Average Tenure
50.5yo
Average Age

Experienced Management: LQDA's management team is considered experienced (3 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Roger Jeffs
CEO & Director5.7yrsUS$7.71m2.03%
$ 143.2m
Arthur Kirsch
Independent Director9.8yrsUS$327.50k0.046%
$ 3.2m
Joanna Horobin
Independent Director6.8yrsUS$315.00k0.038%
$ 2.7m
Stephen Bloch
Independent Chairman17yrsUS$362.50k0.074%
$ 5.2m
Paul Manning
Independent Director5.6yrsUS$305.00k5.17%
$ 365.4m
David Johnson
Independent Director5.3yrsUS$310.00k0%
$ 0
Damian deGoa
Independent Director5.6yrsUS$303.62k0.097%
$ 6.9m
Ramandeep Singh
Independent Director8.4yrsUS$315.00k0.044%
$ 3.1m
Katherine Rielly-Gauvin
Independent Director6.8yrsUS$312.50k0.044%
$ 3.1m
6.8yrs
Average Tenure
63yo
Average Age

Experienced Board: LQDA's board of directors are considered experienced (6.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/09 04:36
End of Day Share Price 2026/07/09 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Liquidia Corporation is covered by 15 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jason Matthew GerberryBofA Global Research
Julian HarrisonBTIG
Andrew FeinH.C. Wainwright & Co.