Liquidia is a late-stage clinical biopharmaceutical company focused on the development and commercialization of human therapeutics using proprietary PRINT® technology to transform the lives of patients. PRINT is a particle engineering platform that enables precise production of uniform drug particles designed to improve the safety, efficacy and performance of a wide range of therapies. They are currently focused on the development of two product candidates for which we hold worldwide commercial rights: LIQ861 for the treatment of pulmonary arterial hypertension, or PAH, and LIQ865 for the treatment of local post-operative pain. Their lead product candidate, LIQ861, is being evaluated in an open-label Phase 3 clinical trial. LIQ861 is an inhaled dry powder formulation of treprostinil designed to improve the therapeutic profile of treprostinil by enhancing deep-lung delivery and achieving higher dose levels than current inhaled therapies. They apply their PRINT technology to enable the delivery of LIQ861 through a convenient, disposable dry powder inhaler, or DPI. They also apply their PRINT technology to their second product candidate, LIQ865, for which they have completed two Phase 1 clinical trials. LIQ865 is designed to deliver sustained-release particles of bupivacaine, a non-opioid anesthetic, to treat local post-operative pain for three to five days through a single administration