Liquidia Announces Postponement of Special Meeting of Stockholders
October 19 2020 - 8:30AM
Liquidia Technologies, Inc. (NASDAQ: LQDA), a late-stage clinical
biopharmaceutical company focused on the development and
commercialization of novel products using its proprietary
PRINT® technology, today announced that it has postponed the
special meeting of stockholders, originally scheduled for October
21, 2020.
On October 16, 2020, Liquidia received an unsolicited offer to
enter into a License Agreement for the Company’s LIQ861 product
candidate (the “Offer”). The Offer is also conditioned upon
Liquidia terminating the Agreement and Plan of Merger, dated as of
June 29, 2020, by and among the Company, RareGen, LLC, Liquidia
Corporation, Gemini Merger Sub I, Inc., Gemini Merger Sub II, LLC,
and PBM RG Holdings, LLC (the “Merger Agreement”). The Liquidia
Board of Directors is evaluating whether the Offer constitutes a
“Superior Proposal” pursuant to the Merger Agreement and has
decided to postpone the special meeting to provide additional time
to fully consider all relevant factors with respect to the
Offer.
The Company will provide additional disclosure upon the
conclusion of its review and provide additional information
regarding a date for the Special Meeting, if applicable.
About LiquidiaLiquidia is a
late-stage clinical biopharmaceutical company focused on the
development and commercialization of novel products using its
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.
Currently, Liquidia is focused on the development of two
product candidates for which it holds worldwide commercial rights:
LIQ861 for the treatment of pulmonary arterial hypertension (PAH)
and LIQ865 for the treatment of local post-operative
pain. Liquidia is headquartered in Research Triangle
Park, NC. For more information, please
visit www.liquidia.com.
Cautionary Statements Regarding Forward-Looking
Statements
This press release may include forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. All statements contained in this press release other than
statements of historical facts, including statements regarding our
future results of operations and financial position, our strategic
and financial initiatives, our business strategy and plans and our
objectives for future operations, are forward-looking statements.
Such forward-looking statements, including statements regarding
clinical trials, clinical studies and other clinical work
(including the funding therefor, anticipated patient enrollment,
safety data, study data, trial outcomes, timing or associated
costs), regulatory applications and related timelines, including
potential U.S. Food and Drug Administration (FDA)
approval of the New Drug Application (NDA) for LIQ861, the timeline
or outcome related to our patent litigation pending in
the U.S. District Court for the District of Delaware or
its inter partes review with the Patent Trial and Appeal
Board, the issuance of patents by the USPTO and our ability to
execute on our strategic or financial initiatives, involve
significant risks and uncertainties and actual results could differ
materially from those expressed or implied herein. The words
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “plan,” “potential,” “predict,” “project,”
“should,” “target,” “would,” and similar expressions are intended
to identify forward-looking statements. We have based these
forward-looking statements largely on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives and financial needs. These forward-looking statements
are subject to a number of risks discussed in our and Liquidia
Corporation’s filings with the Securities and Exchange
Commission, including the risk that our proposed acquisition
of RareGen, LLC is not consummated or that the expected
benefits and synergies from the proposed acquisition are not
realized, the impact of the coronavirus (COVID-19) outbreak on our
company and our financial condition and results of operations, as
well as a number of uncertainties and assumptions. Moreover, we
operate in a very competitive and rapidly changing environment and
our industry has inherent risks. New risks emerge from time to
time. It is not possible for our management to predict all risks,
nor can we assess the impact of all factors on our business or the
extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements we may make. In light of these risks,
uncertainties and assumptions, the future events discussed in this
press release may not occur and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. Nothing in this press release should be
regarded as a representation by any person that these goals will be
achieved, and we undertake no duty to update our goals or to update
or alter any forward-looking statements, whether as a result of new
information, future events or otherwise.
Contact
InformationMedia:Michael ParksCorporate
Communications484.356.7105michael.parks@liquidia.com
Investors:Jason AdairVice President, Corporate
Development and Strategy919.328.4400jason.adair@liquidia.com
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