Liquidia Technologies' stock saw a significant 12% increase, climbing to $11.20, after the U.S. Supreme Court declined to review an appeal concerning the '793 patent of rival United Therapeutics on October 7, 2024. This decision effectively invalidates the patent, eliminating a major hurdle for Liquidia's Yutrepia product, as reported by marketscreener.com.
The Supreme Court's move is a breakthrough for Liquidia, which is gearing up for Yutrepia's entry into the market. Yutrepia, approved tentatively by the FDA for treating adults with specific types of pulmonary hypertension, is awaiting final approval, anticipated once a competing product's exclusivity expires in May 2025. In light of the Supreme Court ruling, BTIG analysts have reaffirmed a "Buy" rating for Liquidia with a $25.00 price target, suggesting that the decision plays a crucial role in clearing Yutrepia's path to the market.
Liquidia is now better positioned to compete with United Therapeutics' Tyvaso, which currently holds a significant market share. The Supreme Court ruling may expedite Yutrepia's market availability, allowing Liquidia to potentially attract customers from Tyvaso, pushing forward the company's strategic plans for a successful product launch.