Shares of Liquidia Technologies Inc (LQDA) tumbled 6.24% in pre-market trading on Wednesday following the release of its full-year 2024 financial results, which fell short of analysts' expectations. The biopharmaceutical company, focused on developing innovative therapies for rare cardiopulmonary diseases, reported a wider net loss and lower revenue than anticipated.

Liquidia posted a net loss of $130.4 million, or $1.66 per share, for the year ended December 31, 2024. This loss exceeded the FactSet consensus estimate of a $1.55 per share loss. Additionally, the company's revenue for 2024 came in at $14 million, falling short of the $15.9 million forecast by analysts. The revenue decline was primarily attributed to lower sales quantities of Treprostinil Injection, impacted by limitations on the availability of pumps used to administer the drug subcutaneously.

Despite the disappointing financial results, Liquidia provided updates on its product pipeline. The company is targeting final FDA approval of YUTREPIA™ (treprostinil) inhalation powder after the expiration of regulatory exclusivity on May 23, 2025. Additionally, Liquidia reported progress in advancing its pipeline of inhaled treprostinil products in clinical studies. The company also announced a strengthened financial position through an amendment to its existing financing agreement with HealthCare Royalty Partners, potentially providing up to an additional $100 million in funding. However, these positive developments were overshadowed by the weaker-than-expected financial performance, leading to the pre-market stock decline.