Liquidia Corp

The increase of $2.6 million was primarily attributable to the higher borrowings under the HCR Agreement.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

As a result of the revision, the loss on extinguishment has been eliminated and an adjustment to interest expense resulting from the modifications has been recorded, with corresponding adjustments to the long-term debt and accumulated deficit accounts.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

We have financed our growth and operations through a combination of funds generated from revenues, the issuance of convertible preferred stock and common stock, bank borrowings, bank borrowings with warrants, the issuance of convertible notes and warrants, and other long-term debt.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

If the rate implicit is not readily determinable, we use an estimate of its incremental borrowing rate based upon the available information at the lease commencement date.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

Long-term Debt We recognized a liability related to amounts received pursuant to the HCR Agreement under ASC 470-10, Debt ( ASC 470 ) and ASC 835-30, Interest Imputation of Interest .

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

Amendments are assessed under ASC 470 to determine the appropriate treatment as troubled debt restructurings, extinguishments or modifications.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

All statements contained in this press release other than statements of historical facts, including statements regarding our future results of operations and financial position, our strategic and financial initiatives, our business strategy and plans and our objectives for future operations, are forward-looking statements.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

We have the exclusive rights to conduct commercial activities for Treprostinil Injection and work jointly with Sandoz on commercial strategy for the product.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

We operate in a dynamic and highly competitive industry and believe that changes in any of the following areas could have a material adverse effect on our future financial position, results of operations, or cash flows: advances and trends in new products, technologies and industry standards; results of clinical trials; regulatory approval, market acceptance 9 Table of Contents and third-party payor coverage for our products; development of sales channels; certain strategic relationships; litigation or claims against us, including claims related to intellectual property, product, regulatory, or other matters; and our ability to attract and retain employees necessary to support our growth.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026

The increase of $18.9 million or 95% was primarily due to a $8.8 million increase in personnel expenses (including stock-based compensation) driven by higher headcount and a shift from activities related to research and development to the commercialization of YUTREPIA, a $5.8 million increase in legal fees related to our ongoing YUTREPIA-related litigation, a $2.3 million increase in commercial and consulting expenses to support the commercialization of YUTREPIA, and a $1.3 million increase in facilities and infrastructure expenses.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

Such forward-looking statements, including statements regarding clinical trials, clinical studies and other clinical work (including the funding therefor, anticipated patient enrollment, safety data, study data, trial outcomes, timing or associated costs), regulatory applications and related submission contents and timelines, the timelines or outcomes related to patent litigation with United Therapeutics in the U.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

YUTREPIA’s approval and our launch of YUTREPIA remain subject to ongoing litigation in which United Therapeutics is seeking injunctive relief, which could block our ability to continue to sell YUTREPIA for one or both of PAH and PH-ILD.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

These forward-looking statements are subject to a number of risks discussed in our filings with the SEC, as well as a number of uncertainties and assumptions.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

In light of these risks, uncertainties and assumptions, the future events discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

SEC original ↗Liquidia Corp — Earnings release (8-K exhibit)EX-99Aug 12, 2025

Legal Proceedings 47 Item 1A.

SEC original ↗Liquidia Corp — 10-Q Quarterly report10-QAug 12, 2026