Liquidia Corporation(NASDAQ:LQDA) Q1 2022 Earnings Conference Call May 12, 2022 8:30 AM ET

Company Participants

Jason Adair - SVP, Corporate Development and Strategy

Roger Jeffs - CEO

Mike Kaseta - CFO

Rusty Schundler - General Counsel

Conference Call Participants

Serge Belanger - Needham & Company

Julian Harrison - BTIG

Andreas Argyrides - Wedbush

Operator

Good morning, and welcome, everyone, the Liquidia Corporation First Quarter 2022 Financial Results and Corporate Update Conference Call. My name is Howard, and I will be your conference operator today. [Operator Instructions] 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.

Jason Adair

Thank you, Howard. It is my pleasure to welcome everyone to today's conference call.

Before we begin, I would like to remind everyone that today's call will contain forward-looking statements based on current expectations. Such statements may involve risks and uncertainties that may cause actual results to differ materially from these stated expectations. For further information on the company's risk factors, please see Liquidia's filings with the Securities and Exchange Commission at www.sec.gov, or on Liquidia's website at liquidia.com.

Joining the call today are Chief Executive Officer, Roger Jeffs; Chief Financial Officer, Mike Kaseta; General Counsel, Rusty Schundler; and other members of Liquidia's management.

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

Roger Jeffs

Thank you, Jason, and good morning, everyone.

The first quarter of this year reinforced everything that I believe to be true when I moved into the CEO role in January. Our products are needed, our team is dedicated and focused and our confidence is high. We are focused on things in our control, first and foremost of which is commercializing our products and building a path towards profitability. We remain encouraged by increasing payer support for treprostinil injection along with concurrent increasing demand. Large national and regional payers have been reviewing and now enacting generic mandates for parenteral treprostinil.

We are aware that additional payers are expected to implement mandates in the second half of 2022 and into 2023. And reflecting acknowledgment that there is no perceived difference in quality, efficacy, safety or patient support services with our treprostinil injection versus the branded Remodulin.

These payers see great potential benefit to reduce cost on a drug that was first introduced nearly 20 years ago. At the end of the first quarter, we argue the merits of our case in District Court with respect to Hatch-Waxman litigation that was initiated nearly two years ago by United Therapeutics. We've been eager to reach this point in the proceedings, balance of our full positions and evidence both as to non-infringement and ability of the asserted patents could become publicly known and accessible.We will continue to advance our position to the fullest extent in post-trial proceedings and related patent office actions.