Shares of Liquidia Technologies Inc (LQDA) tumbled 6.24% in pre-market trading on Wednesday following the release of the company's full-year 2024 financial results. The biopharmaceutical firm, which specializes in developing therapies for rare cardiopulmonary diseases, reported figures that fell short of analysts' expectations.

Liquidia posted a net loss of $130.4 million, or $1.66 per share, for the year 2024, significantly higher than the FactSet estimate of a $1.55 loss per share. Additionally, the company's revenue for 2024 came in at $14 million, missing the FactSet projection of $15.9 million. These disappointing results likely contributed to the sharp pre-market decline in LQDA's stock price.

Despite the financial setback, Liquidia provided updates on its pipeline and strategic initiatives. The company is targeting final FDA approval of its lead product candidate, YUTREPIA (treprostinil) inhalation powder, after the expiration of regulatory exclusivity on May 23, 2025. Furthermore, Liquidia announced an amendment to its existing financing agreement with HealthCare Royalty Partners (HCRx), potentially strengthening its financial position by up to $100 million. This additional funding could help support the company's ongoing clinical studies and potential commercialization efforts for YUTREPIA, provided it receives final FDA approval.