Liquidia Plunges 57% After YUTREPIA Patent Ruling

$LQDA closed down 57%, wiping roughly $3.6B from its market value after a Delaware court ruled that two of six patent claims asserted by United Therapeutics against YUTREPIA are valid and infringed.
The ruling is particularly significant because YUTREPIA is Liquidia's key commercial product and the upheld claims cover its use in PH-ILD, representing roughly half of the inhaled treprostinil market.
$UTHR is seeking an injunction. Liquidia says potential remedies could range from removing the PH-ILD indication from YUTREPIA's label to broader restrictions on availability.
Liquidia plans to appeal and intends to ask the FDA to remove the PH-ILD indication from the drug's label.