HIGHBuilt-in & outside partyProduct / Revenue mix
YUTREPIA
“10-K Item 1A: 'We are primarily dependent on the success of YUTREPIA, for which we recently received FDA approval for the treatment of PAH and PH-ILD'”
LQDA · Concentration risk · 10-K extracted
Liquidia (LQDA) concentration risks
Updated
The most significant concentration Liquidia discloses is YUTREPIA, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Liquidia’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 4 disclosed concentrations
HIGH2
MEDIUM2
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partySupplier
single suppliers for YUTREPIA
“10-K Item 1A: 'We depend on third parties for clinical and commercial supplies, including single suppliers for the active ingredient, the device, encapsulation and packaging of YUTREPIA'”
MEDIUMOutside partyCounterparty
Sandoz
“10-K Item 1A: 'Liquidia PAH does not hold the FDA regulatory approval for Treprostinil Injection and is dependent on Sandoz to manufacture and supply Treprostinil Injection'”
MEDIUMBuilt-inPipeline
L606 pivotal trial
“10-K Item 1A: 'our planned pivotal clinical trial of L606, may not be successful and delays in such preclinical studies or clinical trials may cause our costs to increase'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-06-24The company's concentration profile is heavily weighted toward single-product and single-supplier dependencies at the commercial stage, with a secondary pipeline exposure that shapes medium-term optionality. YUTREPIA is the dominant concentration: the company is primarily dependent on its success, a high-share exposure with a mixed character — reflecting both the structural reality that this is the company's lead commercial asset and a dependency on ongoing regulatory, payer, and competitive outcomes that the company cannot fully control. Compounding this, the active ingredient, device, encapsulation, and packaging for YUTREPIA all depend on single suppliers with no disclosed alternative — a high-share supply dependency that means a disruption at any of those sole sources could halt commercial supply of the sole revenue-generating product. Separately, the company depends on Sandoz to manufacture and supply Treprostinil Injection under a specific regulatory approval that Sandoz, not the company, controls — a medium-share counterparty dependency with a dependency character. The loss or impairment of this relationship would remove a product the company relies on without holding the underlying regulatory approval itself. The L606 pivotal trial is a medium-share pipeline exposure with a structural character, representing the primary vehicle for revenue diversification beyond YUTREPIA. Its success is necessary but not sufficient to reduce the concentration profile over time. On balance, the combination of single-product revenue dependence and sole-source manufacturing for that product represents the most acute intersection of risks in the disclosed profile.
For the engine’s reasoning on LQDA’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Drug Manufacturers - Specialty & Generic
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| LQDA● | Liquidia Corporation | 2 | 2 | 0 | 4 |
| ANIP | ANI Pharmaceuticals, Inc. | 2 | 1 | 0 | 3 |
| AMLX | Amylyx Pharmaceuticals, Inc. | 2 | 0 | 0 | 2 |
| AMRX | Amneal Pharmaceuticals, Inc. | 1 | 1 | 0 | 2 |
| BCRX | BioCryst Pharmaceuticals, Inc. | 0 | 2 | 0 | 2 |
| ALKS | Alkermes plc | 0 | 1 | 1 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.