A Sept. 30 ruling by the U.S. District Court for the District of Delaware found claims 1 and 14 of U.S. Patent No. 11,826,327 valid and infringed by Liquidia. On Oct. 13, Liquidia Corp. (LQDA) and United Therapeutics Corp. announced a global settlement resolving six ongoing lawsuits. The deal lets Liquidia continue marketing YUTREPIA, its treprostinil inhalation powder, for pulmonary arterial hypertension (PAH), according to the company’s settlement announcement. Liquidia shares surged 41% in Wednesday pre-market trading.
Effective Oct. 13, the agreement requires Liquidia not to appeal the ruling. It must also seek a regulatory label change removing the indication for pulmonary hypertension associated with interstitial lung disease. Liquidia will pay United Therapeutics $175 million within 30 business days, then make two $72.7 million payments by Jan. 31 and April 30, 2027. Another $60.3 million is allocated to parties connected with antitrust litigation involving injectable treprostinil. That brings settlement-related payments to about $380.7 million. The agreement includes mutual releases for claims arising before it was signed and is not an admission of liability by either party.
The share-price jump comes with a steep bill attached.
Liquidia retains the right to sell and promote YUTREPIA for PAH, subject to the agreement’s financial and regulatory terms. The company also said it plans to keep developing YUTREPIA and its investigational L606 program.
Alaunos Therapeutics, Inc. (TCRT) also advanced after completing its acquisition of Velaris on Oct. 13 and raising approximately $350 million in a private placement. The company said the proceeds are expected to fund operations into 2029. The acquired Velaris programs include VLR199 and VLR360. They also include VLR247 and VLR258. Funding is earmarked to advance VLR199 and VLR360, while Alaunos prepares initial regulatory submissions for VLR247 and VLR258. Fairmount led the placement. Healthcare-focused investment firms including Venrock Healthcare Capital Partners and Wellington Management also participated. Further terms appear in Alaunos’s 8-K filing.
Other pre-market movers
CDT Equity Inc. (CDT) plunged 45%. On Oct. 14, Sarborg Limited announced it had filed a patent application covering novel solid forms of a respiratory medicine. The company described the asset as a potential first-in-class medicine. Its announcement was published by GlobeNewswire.
The market rundown also lists NIVF among the gainers and BMEA among the decliners, but gives no percentage moves or catalysts for either. For wider capital-markets context, Nanyang Biologics has pursued a Nasdaq listing effort.
