Inhalable pharmaceutical compositions can include an aqueous dispersion of particles including a hydrophobic bioactive agent (e.g., CoQ10) suitable for continuous aerosolization. Due to their chemical composition and methods of manufacture, the pharmaceutical compositions exhibit distinctive physicochemical properties that provide advantageous aerosol transmission and output. the compositions comprises: a dispersion of liposomal particles having an average diameter between about 30 and 500 nm, each liposomal particle comprising a hydrophobic bioactive agent, a phospholipid, and an aqueous dispersion vehicle, wherein the ratio of hydrophobic bioactive agent phospholipid is between about 5:1 and about 1:5, the hydrophobic bioactive agent is between about 0.1 and 30 % w/w of the composition, the phospholipid is between about 0.1 and 30 % w/w of the composition, and the liposomal particles are dispersed within the aqueous dispersion vehicle
