This segment focuses on the research, development, and commercialization of therapies for Pulmonary Arterial Hypertension (PAH). Liquidia's lead product, YUTREPIA (inhaled treprostinil), is a key focus, targeting the unmet needs of PAH patients. Research and development activities include clinical trials, formulation development, and manufacturing process optimization. The company utilizes advanced dry powder inhalation technology to deliver treprostinil directly to the lungs. This approach aims to improve patient outcomes by providing a more convenient and effective treatment option compared to existing therapies. Market positioning centers on providing a differentiated inhaled treprostinil product. Future opportunities include expanding the label for YUTREPIA and developing additional therapies for respiratory diseases. Regulatory aspects involve obtaining and maintaining FDA approval and navigating patent litigation. Partnerships with Sandoz Inc. and Mainbridge Health Partners LLC support commercialization efforts.

This segment is dedicated to developing and commercializing sustained-release formulations for pain management, specifically focusing on post-operative pain. The primary product candidate is LIQ865, a sustained-release formulation of bupivacaine. Research and development activities include formulation science, preclinical studies, and clinical trials to demonstrate efficacy and safety. The company utilizes advanced drug delivery technologies to provide extended pain relief. The therapeutic area is focused on local post-operative pain management, aiming to improve patient comfort and reduce the need for opioid-based pain medications. Market positioning involves providing a differentiated product with the potential for improved patient outcomes. Future opportunities include expanding the product portfolio and exploring partnerships for commercialization. Regulatory aspects involve obtaining FDA approval and ensuring compliance with all relevant regulations. The company is actively seeking collaborations to accelerate the development and commercialization of its pain management products.