Liquidia (LQDA) Research & Development (2020 - 2026)
Liquidia (LQDA) posted quarterly Research & Development of $12.6 million for Q1 2026, up 80.46% year-over-year from $7.0 million in Q1 2025, and down 25.8% quarter-over-quarter from $16.9 million in Q4 2025.
Liquidia (LQDA) Research & Development (2020 - 2026) Analysis & Trends
Liquidia's Research & Development history runs 7 years deep, the most recent figure standing at $12.6 million for Q1 2026.
- In Q1 2026, Research & Development rose 80.46% year-over-year to $12.6 million; the TTM figure through Mar 2026 stood at $44.9 million (changed 0.29% YoY), while the FY2025 annual figure was $39.3 million, down 17.9% from the prior year.
- Research & Development for Q1 2026 stood at $12.6 million, down from $16.9 million in the prior quarter.
- The five-year high for Research & Development was $17.7 million in Q2 2023, with the low at $4.5 million in Q3 2022.
- The 5-year median for Research & Development is $9.3 million (2025), against an average of $9.6 million.
- The sharpest annual moves came in 2023 and 2024: Research & Development surged 239.05% in 2023, then plunged 46.76% in 2024.
- Liquidia's Research & Development stood at $5.0 million in 2022, then surged by 157.82% to $12.8 million in 2023, then rose by 28.42% to $16.5 million in 2024, then rose by 2.84% to $16.9 million in 2025, then fell by 25.8% to $12.6 million in 2026.
- Business Quant data shows LQDA's Research & Development at $12.6 million in Q1 2026, $16.9 million in Q4 2025, and $9.3 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Haleon | 44.07 Bn | 43.10 Bn | - | - |
| 2 | Teva Pharmaceutical Industries | 43.42 Bn | 39.76 Bn | 2.15 Bn | 970.00 Mn |
| 3 | Zoetis | 31.86 Bn | 30.18 Bn | 1.05 Bn | - |
| 4 | Takeda Pharmaceutical | 28.77 Bn | 22.98 Bn | 5.10 Bn | -1.05 Bn |
| 5 | United Therapeutics | 22.29 Bn | 19.63 Bn | 683.80 Mn | 146.30 Mn |
| 6 | Viatris | 18.78 Bn | 17.89 Bn | 1.46 Bn | 248.30 Mn |
| 7 | Neurocrine Biosciences | 15.66 Bn | 15.27 Bn | 935.80 Mn | 326.70 Mn |
| 8 | Elanco Animal Health | 11.91 Bn | 11.38 Bn | 798.00 Mn | 92.00 Mn |
| 9 | Dr Reddys Laboratories | 10.16 Bn | 10.00 Bn | - | - |
| 10 | Liquidia | 6.45 Bn | 6.17 Bn | 160.92 Mn | 17.18 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 17.18 Mn |
| Mar 31, 2026 | 12.57 Mn |
| Dec 31, 2025 | 16.94 Mn |
| Sep 30, 2025 | 9.35 Mn |
| Jun 30, 2025 | 6.02 Mn |
| Mar 31, 2025 | 6.97 Mn |
| Dec 31, 2024 | 16.48 Mn |
| Sep 30, 2024 | 11.89 Mn |
| Jun 30, 2024 | 9.42 Mn |
| Mar 31, 2024 | 10.06 Mn |
| Dec 31, 2023 | 12.83 Mn |
| Sep 30, 2023 | 7.44 Mn |
| Jun 30, 2023 | 17.70 Mn |
| Mar 31, 2023 | 5.28 Mn |
| Dec 31, 2022 | 4.98 Mn |
| Sep 30, 2022 | 4.51 Mn |
| Jun 30, 2022 | 5.22 Mn |
| Mar 31, 2022 | 4.73 Mn |
| Dec 31, 2021 | 5.38 Mn |
| Sep 30, 2021 | 4.49 Mn |