Pharmosa Biopharm said licensing partner Liquidia has stepped up investment in L606 as the drug candidate moves deeper into late-stage testing, with second-quarter spending on the Re-Spire program reaching about NT$350 million, or US$10.8 million, nearly double the first-quarter level and above the total spent in the first half of last year. The update, disclosed during Liquidia's second-quarter earnings and operational call, points to a high-investment phase for L606 clinical development as the global Phase 3 Re-Spire trial continues enrolling patients and additional studies are prepared. Liquidia said overall R&D expenses in the second half of 2026 are expected to be about twice the first-half level, with further increases anticipated in 2027. Liquidia CEO Roger Jeffs described L606 as "potentially the best-tolerated treprostinil formulation to date," citing its twice-daily dosing versus currently available inhaled products that require multiple daily doses. He also said no other product in clinical development has shown the same dose range, tolerability and durability at this stage. Pharmosa said 48-week Phase 3 open-label results showed more than 90% of patients reached actual dosing levels above the target doses of currently marketed inhaled therapies, supporting L606's tolerability and dose-attainment profile. Liquidia is advancing three studies in parallel: the global Phase 3 Re-Spire trial in pulmonary hypertension associated with interstitial lung disease, or PH-ILD; an ongoing U.S. Phase 3 open-label trial; and TRECOR, a right-heart hemodynamics study in pulmonary arterial hypertension, or PAH, scheduled to start in the first half of 2027. Pharmosa said the product has entered a critical stage of value validation, though investors noted that clinical enrollment, data outcomes and regulatory review still remain key uncertainties.