IPERIONX LTD (IPX) shares plummeted 15.32% in pre-market trading, extending losses after the company reported disappointing financial results.

The titanium producer's stock decline follows the release of its half-year financial report, which revealed a net loss of $34.8 million, more than double the $16.2 million loss in the previous corresponding period. The widened losses have negatively impacted investor sentiment toward the company.

IperionX is focused on expanding its Virginia production capacity to 1,400 tons per annum by mid-2027 and scaling commercial operations, but the financial performance has raised concerns among investors about the company's path to profitability.