Liquidia Corp. (NASDAQ:LQDA) plunged 33% after a judge denied a stay request on the '793 patent pending appeal of the PTAB's decision related to a patent dispute with United Therapeutics (NASDAQ:UTHR). United Therapeutics rose 1.8%.
Judge Richard Andrews denied the stay request, according to a copy of the decision viewed by Seeking Alpha.
Recall LQDA surged 45% on July 19 after a court ruled in favor of the company in a patent dispute with United Therapeutics (UTHR). The U.S. Patent Trial and Appeal Board ruled that 1–8 of the ’793 United Therapeutics patents have been shown to be unpatentable, according to a filing at the time.
Judge Andrews in his decision on Tuesday said that he believes the UTC "would suffer undue prejudice" if he were to delay his decision on the '793 patent.
In October, Liquidia (LQDA) announced that PTAB ruled in its favor in the IPR proceeding against U.S. Patent No. 9,604,901 (‘901 patent) owned by United Therapeutics (UTHR) and listed in the Orange Book for Tyvaso.
Recall in November, the FDA granted tentative approval to Liquidia's (LQDA) Yutrepia (treprostinil) inhalation powder for the treatment of pulmonary arterial hypertension. The FDA can't give final approval of Yutrepia until the expiration of the regulatory stay on October 27, or earlier resolution or settlement of the ongoing litigation.