Liquidia Corporation (LQDA) Gains Momentum Following Overturning of District Court Patent Ruling

Arquitos Capital Partners, an investment management firm, released its Q4 2025 investor letter. A copy of the letter can be downloaded here. Arquitos Capital Management reported a standout year in which the fund returned 82.1% net of fees in 2025, significantly outperforming the Russell 2000’s 12.8% gain. The manager noted that market conditions became increasingly selective, with capital favoring established, cash-generating businesses while smaller and less liquid growth names faced volatility, particularly across mid- and small-cap equities. Despite shifting investor preferences and...