Rare Disease Stocks Surge Again: Reasons Behind a 5% Increase in One Day

Liquidia Corporation (NASDAQ: LQDA) closed at $39.99 on the Nasdaq on the 13th, up 5.15%. Its market capitalization swelled to approximately $3.48 billion—about KRW 4.6 trillion—an increase of roughly $189 million (about KRW 250 billion) from the previous trading day. Trading volume topped 1.73 million shares, extending its recent trend of heightened volatility.

According to a recent SEC filing, on January 9, Chief Accounting Officer Dana Boyle sold 11,047 shares of the company, valued at about $413,000 (around KRW 550 million). Just three days earlier, the stock jumped more than 12% following an update projecting provisional 2025 sales of its flagship product, Yutrepia, at $148.3 million (roughly KRW 200 billion).

The analyst consensus rating stands at “moderate buy,” and institutional and hedge-fund ownership has been steadily rising. However, in the early phase of Yutrepia’s commercialization, marketing and SG&A expenses have surged, and the company continues to report substantial operating losses. As a result, improvements to its financial structure have emerged as a key area to watch.

Liquidia is a nanoparticle-based biotech firm targeting the North American market for rare pulmonary arterial hypertension and pulmonary disease treatments. Leveraging its core product Yutrepia, the company has pursued aggressive strategies—including a patent infringement suit against established player United Therapeutics. Investors are weighing the potential for high rare-disease pricing and a strong prescription base to drive earnings leverage and stock revaluation against the risks of litigation and expanding losses, both of which are already being reflected in its share price.