Lionel Hutz discusses his thesis for Liquidia (LQDA) and why the thinks they are likely to win their patent battle against United Therapeutics (UTHR).

Lionel's LQDA write up: https://lionelhutz.substack.com/p/waiting-with-bated-breath-for-liquidia

Chapters 

• 0:00 Intro 
• 2:50 LQDA overview 
• 8:05 Diving into the patent background 
• 16:10 Breaking down the conflicting rulings on the '793 patent 
• 19:55 Why the PTAB ruling is the most important for '793 
• 21:55 What's so unique about the judge's ruling on '793 
• 28:30 Why PTAB ruled the '793 patent invalid 
• 37:40 LQDA's primary argument for invalidating '793 
• 43:30 Discussing the expert reports around the '793 patent 
• 53:30 Timeline to monetization and why delaying LQDA is so important for UTHR 
• 59:00 LQDA's upside if they win 
• 1:13:00 LQDA's cash runway