Liquidia (LQDA) Research & Development (2020 - 2026)
Liquidia (LQDA) reported Research & Development of $17.18 million for Q2 2026, up 185.4% from $6.02 million a year earlier and up 36.7% from the prior quarter.
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Analysis
Liquidia (LQDA) Research & Development (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Liquidia's Research & Development came in at $56.04 million, up 35.5% year-over-year; for FY2025, it came in at $39.28 million, down 17.9% from FY2024.
- Research & Development has a five-year compound annual growth rate of 4.0% (FY2020 to FY2025).
- By year, Research & Development came in at $47.84 million in FY2024 (+10.6%), $43.24 million in FY2023 (+122.5%), $19.44 million in FY2022 (-5.3%) and $20.52 million in FY2021 (-36.3%).
- The Q2 2026 figure ranks as the highest quarterly Research & Development since Q2 2023.
- Year over year, Research & Development has now increased in each of the last three quarters, with growth averaging 33.6% over the last eight quarters.
- The high point for year-over-year Research & Development in five years was Q2 2023 (growth of 239.0%); the low point was Q2 2024 (a decline of 46.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $12.57 million (Q1 2026), $16.94 million (Q4 2025) and $9.35 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Liquidia | 6.56 Bn | 5.71 Bn | 160.13 Mn | 17.18 Mn |
Historic Data
Download Data
Historic 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 |
API Access
Liquidia Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=LQDA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "LQDA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=LQDA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();