08:29 AM EST, 11/15/2024 (MT Newswires) -- TFF Pharmaceuticals ( TFFP ) shares tumbled 72% in premarket activity Friday a day after the board approved the company's dissolution and liquidation.

The company plans to call a special stockholders' meeting to seek approval of the dissolution plan, according to a filing with the US Securities and Exchange Commission.

TFF said it has terminated its employees in connection with the planned wind down of its operations.

The company also said Chief Executive Harlan Weisman, Chief Financial Officer Kirk Coleman and Chief Medical Officer Zamaneh Mikhak have stepped down from their respective positions as of Nov. 14. TFF Pharmaceuticals ( TFFP ) said its board named Craig Jalbert as chief executive, president and chief financial officer.