Liquidia shares drop 4% after Q2 earnings miss
Revenue and loss figures miss analyst estimates as biotech firm reports second-quarter results.
Liquidia Technologies Inc. shares fell 4% in premarket trading on Thursday after the biotech company reported second-quarter earnings that missed analyst expectations.
The company posted a net loss of $15.2 million, or 45 cents per share, compared with a loss of $12.1 million, or 36 cents per share, in the same period a year earlier. Analysts had expected a loss of 30 cents per share, according to Refinitiv data.
Revenue declined to $1.8 million from $2.3 million in the year-ago quarter, also falling short of the $2.1 million consensus estimate. The company attributed the revenue decline to lower product sales and delayed contract milestones.
Liquidia, which focuses on developing therapies for rare diseases, said it remains on track to launch its lead product, YUTREPIA, in the third quarter, pending regulatory approval. The firm reiterated its full-year 2024 revenue guidance of $10 million to $12 million, though it did not provide an updated earnings outlook.
Shares of Liquidia were down 4.1% at $1.65 in premarket trading, extending losses from Wednesday’s close of $1.72.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
More from Priya Anand →