Liquidia said its stock rebounded after a settlement ended a seven-year IP dispute with United Therapeutics over inhaled treprostinil products. Under the agreement, Liquidia will pay $380.7 million to settle patent infringement, trade secret and antitrust claims, while continuing to sell Yutrepia for pulmonary arterial hypertension. The settlement also includes a label change removing PH-ILD as an indication and ending promotional efforts for that use, aligning the company’s commercialization around PAH and reducing the risk of further litigation-related disruptions. Liquidia indicated it does not plan to challenge a U.S. District Court decision finding infringement in claims tied to United’s patent. Strategically, the settlement lets Liquidia continue advancing its next-generation treprostinil formulation L606 in PH-ILD as well as PAH in partnership with Pharmosa Biopharm. The company also highlighted that FDA granted Fast Track designation to Yutrepia in systemic sclerosis Raynaud’s phenomenon (SSc-RP), creating a separate regulatory tailwind. For the pulmonary hypertension market, the resolution reduces uncertainty for payers and clinicians and may restore investor confidence in Liquidia’s product roadmap after the prior legal and label setbacks.