Liquidia Corporation (NASDAQ:LQDA) Q1 2023 Results Conference Call May 4, 2023 8:30 AM ET

Company Participants

Jason Adair - SVP, Corporate Development and Strategy

Roger Jeffs - CEO

Michael Kaseta - CFO

Rajeev Saggar - CMO

Scott Moomaw - Chief Commercial Officer

Rusty Schundler - General Counsel

Conference Call Participants

Greg Harrison - Bank of America

Serge Belanger - Needham

Julian Harrison - BTIG

Kambiz Yazdi - Jefferies

Matt Kaplan - Ladenburg

Operator

Good morning, and welcome, everyone, to the Liquidia Corporation First Quarter 2023 Financial Results and Corporate Update Conference Call. My name is Lisa, and I will be your conference operator today. Currently, all participants are in a listen-only mode. Following the presentation, we will conduct a question-and-answer session. Instructions will be provided at that time for you to queue up for questions. I would like to remind everyone that this conference call is being recorded.

I will now hand the call over to Jason Adair, Senior Vice President, Corporate Development and Strategy. Please go ahead.

Jason Adair

Thank you, Lisa. It's my pleasure to welcome everyone to Liquidia's first quarter 2023 financial results and corporate update conference call.

Joining the call today are Chief Executive Officer, Roger Jeffs; Chief Financial Officer, Michael Kaseta; Chief Medical Officer, Rajeev Saggar, Chief Commercial Officer, Scott Moomaw; and General Counsel, Rusty Schundler.

Before we begin, please note that today's conference call will contain forward-looking statements, including those statements regarding future results, unaudited and forward-looking financial information as well as the company's future performance and/or achievements. These statements are subject to known and unknown risks and uncertainties, which may cause our actual results or performance to be materially different from any future results or performance expressed or implied on this call.

For additional information, including a detailed discussion of our risk factors, please refer to the company's documents filed with the Securities and Exchange Commission, which can be accessed on our website.

I would now like to turn the call over to Roger for our prepared remarks, after which, he will open-up the call for your questions.

Roger Jeffs

Thank you, Jason. Good morning, everyone, and thank you for joining us.

As we said just 7 weeks ago, our confidence remains high. Our balance sheet is strong. Our legal team continues to have success in the courts in the market opportunity for YUTREPIA, our dry powder inhaled formulation of treprostinil continues to expand as physicians gain better exposure to the benefits of inhaled prostacyclin in treating both PAH and PH-ILD patients. The PH-ILD opportunity is especially intriguing because it seems that the medical and investor communities at large are quickly catching up to the true value that can be created by finally offering an option to this previously untreated group. It's helpful to see the increasing demand for inhaled treprostinil and the increased diagnosis and treatment of PH-ILD. It should accelerate adoption of YUTREPIA given the clear benefits of tolerability, titratability and overall patient experience with a low resistance device. While we wait for the opportunity to launch the product, we look forward to further defining YUTREPIA's beneficial product profile in an open-label study in PH-ILD patients that we intend to initiate later this year.