Pulmatrix, Inc.
4.8800+0.01 (+0.21%)
Oct 29, 4:00:00 PM EDT · NasdaqCM · PULM · USD
Key Stats
Market Cap
17.82MP/E (TTM)
-Basic EPS (TTM)
-1.71Dividend Yield
0%Recent Filings
8-K
Pulmatrix Q3 loss, merger update
Pulmatrix reported Q3 2025 net loss of $877,000, with revenues dropping to zero from $0.4 million year-over-year amid PUR1900 trial wind-down, while R&D and G&A expenses plunged 99% and 59% respectively due to staff cuts and lease disposal. Cash stood at $4.8 million, funding operations into Q4 2026. The company advances its merger with Cullgen, pending Nasdaq and Chinese approvals, and seeks to divest iSPERSE technology plus Phase 2-ready PUR3100 for acute migraine and PUR1800 for COPD. Merger risks loom if divestment falters.
10-Q
Q3 FY2025 results
Pulmatrix reported no revenue for Q3 FY2025 ended September 30, 2025, down from $0.4M y/y, while operating expenses plunged 71% y/y to $0.9M, yielding an operating loss of $0.9M versus $2.7M last year. Net loss narrowed to $0.9M ($0.24 per share) from $2.6M ($0.71 per share), with EPS aligning to 3.65M diluted shares and no anti-dilution effects. YTD through September, net loss improved 44% y/y to $4.2M, fueled by slashed R&D after the MannKind asset sale and PUR1900 wind-down. Cash dwindled to $4.8M from $9.5M at year-start, with $4.7M operating cash burn but no capex, supporting operations for at least 12 months. The pending Cullgen merger, announced November 2024 and extended to October 2025, eyes $280M valuation for Cullgen against Pulmatrix's $10.5M, pending CSRC approval under China's Trial Measures for overseas listings. Merger failure risks dissolution.
8-K
Q2 results and merger update
Pulmatrix reported Q2 2025 results with revenues dropping to zero from $1.6 million year-over-year, R&D expenses plunging to under $0.1 million amid PUR1900 trial wind-down, and cash at $5.8 million—enough to reach the anticipated Cullgen merger close in 2025. The merger, approved by shareholders on June 16, will pivot the company to Cullgen's Phase 1 protein degrader programs for cancer and pain, while Pulmatrix seeks to divest its iSPERSE technology and assets like PUR3100 and PUR1800. Cash burn slowed sharply. Yet divestment success remains uncertain amid closing conditions.
10-Q
Q2 FY2025 results
Pulmatrix posted a narrower Q2 net loss of $1.5M, or $0.42 per share, versus $5.8M or $1.59 per share last year, as revenues evaporated to zero from $1.6M while operating expenses plunged 79% y/y to $1.5M, mainly from slashed R&D after the MannKind deal and PUR1900 wind-down. For the half, the net loss eased to $3.4M or $0.92 per share from $5.0M or $1.37, with YTD operating loss of $3.4M versus $5.2M prior year. Cash burned $3.7M in operations, leaving $5.8M at quarter-end, enough for at least 12 more months amid the pending Cullgen merger—signed November 2024, stockholder-approved June 2025, but awaiting CSRC nod under China's Trial Measures for overseas listings, now extended to October 12, 2025. No debt weighs on the balance sheet. Merger delays could force tough choices like dissolution.
8-K
Pulmatrix merger vote passes
Pulmatrix stockholders approved key proposals at the June 16, 2025 special meeting to advance the merger with Cullgen, including share issuance for the deal, a reverse stock split at a 2-to-10 ratio, and increasing authorized shares to 250 million. Yet the merger awaits CSRC approval under China's overseas listing rules. No assurance exists for timely clearance.
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