RESEARCH TRIANGLE PARK, N.C., Dec. 24, 2019 (GLOBE NEWSWIRE) -- Liquidia Technologies, Inc. (Nasdaq:LQDA), a late-stage clinical biopharmaceutical company focused on the development and commercialization of therapeutics using its proprietary PRINT^® technology, today announced that it has entered into a common stock purchase agreement with certain institutional accredited investors for the private placement of 7,164,534 shares of common stock at a purchase price of $3.13 per share, yielding expected gross proceeds of approximately $22.4 million. The private placement is expected to close on or about December 27, 2019, subject to the satisfaction of customary closing conditions.

Jefferies acted as the sole placement agent to Liquidia in connection with the private placement. Net proceeds from this private placement are expected to be used to complete ongoing development of LIQ861 and LIQ865 and for general corporate purposes.

About Liquidia

Liquidia is a late-stage clinical biopharmaceutical company focused on the development and commercialization of therapeutics using its proprietary PRINT technology to transform the lives of patients. Currently, Liquidia is focused on the development of two product candidates using its PRINT particle engineering platform: LIQ861 for the treatment of pulmonary arterial hypertension and LIQ865 for the treatment of local post-operative pain. Having been evaluated in a phase 3 clinical trial (INSPIRE), LIQ861 is designed to improve the therapeutic profile of treprostinil by enhancing deep-lung delivery and achieving higher dose levels than current inhaled therapies by using a convenient, palm-sized, disposable dry powder inhaler. LIQ865, for which Liquidia has completed two phase 1 clinical trials, 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.