Welcome to our dedicated page for Pulmatrix news (Ticker: PULM), a resource for investors and traders seeking the latest updates and insights on Pulmatrix stock.
Pulmatrix, Inc. (PULM) generates news primarily as a clinical-stage biopharmaceutical company focused on inhaled therapeutics built on its patented iSPERSE™ dry powder technology. Company announcements frequently highlight developments in its pipeline of inhaled product candidates for central nervous system and respiratory diseases, including acute migraine, COPD and allergic bronchopulmonary aspergillosis.
News updates often cover clinical milestones for PUR3100, an orally inhaled dihydroergotamine (DHE) candidate for acute migraine, such as publication of Phase 1 results in a peer-reviewed journal and regulatory progress following FDA acceptance of an Investigational New Drug application and a “study may proceed” letter for a Phase 2 study. Pulmatrix also reports on PUR1800, a Narrow Spectrum Kinase Inhibitor for acute exacerbations in chronic obstructive pulmonary disease, including Phase 1b safety and tolerability data, and on PUR1900, its inhaled itraconazole formulation being advanced with partner Cipla outside the United States.
Investors following PULM news will also see regular corporate and strategic updates. These include quarterly and annual financial results, descriptions of cost-saving measures and Pulmatrix’s transition toward a more virtual operating model. The company has issued multiple releases about its proposed merger with Cullgen Inc., detailing stockholder approvals, regulatory steps such as the effectiveness of a registration statement on Form S-4, and conditions to closing, including Nasdaq and China Securities Regulatory Commission approvals. Pulmatrix has also reported entering into a mutual waiver agreement with Cullgen to allow both parties to explore alternative transactions while continuing to pursue the merger.
Additional news items describe licensing and collaboration activity, such as the cross-license agreement and facility transfer with MannKind Corporation involving iSPERSE™ and MannKind’s Cricket® inhalation device. For readers tracking PULM, this news page provides a centralized view of clinical data releases, regulatory filings referenced in press releases, strategic transactions and financial updates that shape the company’s evolution and its inhaled therapeutic programs.
Pulmatrix (Nasdaq: PULM) reported year-end and Q4 2025 results and provided a corporate update on a proposed merger and asset monetization. Revenues fell to $0 in 2025 from $7.8M in 2024; net loss was $5.16M. Cash and equivalents were $4.1M at year-end, and management says funds are sufficient into Q1 2027. The company is pursuing licensing/monetization of its iSPERSE technology and three clinical programs including Phase 2-ready PUR3100; Cipla continues international development of PUR1900.
Pulmatrix (NASDAQ: PULM) and Cullgen agreed on December 18, 2025 to mutually waive the No Solicitation clause in their November 2024 Merger Agreement to permit each party to explore alternative transactions while continuing to seek merger approval from the China Securities Regulatory Commission (CSRC). The companies previously completed an effective Form S-4 on May 9, 2025 and obtained stockholder approval on June 16, 2025, but CSRC approval remains outstanding.
Pulmatrix reported $4.8 million cash as of September 30, 2025 and expects funds to support operations into at least Q4 2026. Key assets include PUR3100 (Phase 2-ready with an FDA IND acceptance), PUR1800 (Phase 1b completed), PUR1900 (partnered with Cipla; Cipla finished Phase 2 in India and cleared Phase 3 there), and an iSPERSE patent portfolio of approximately 146 granted patents.
Pulmatrix (Nasdaq: PULM) reported third quarter 2025 results and a corporate update on Oct 16, 2025, announcing intent to divest its iSPERSE dry powder inhalation technology and three related clinical programs as part of a proposed merger with Cullgen.
Key metrics: cash $4.8M (Sept 30, 2025) with anticipated runway into Q4 2026; Q3 revenue $0 (down ~$0.4M YoY); Q3 net loss $0.877M; accumulated deficit $301.4M. Material assets include PUR3100 (Phase 2‑ready with FDA IND acceptance and a “study may proceed” letter), PUR1800 (Phase 1b topline supportive data), PUR1900 (partnered with Cipla; 2% royalty outside U.S.), and a patent portfolio of approximately 146 granted patents plus ~50 pending applications.
The merger with Cullgen was stockholder‑approved on June 16, 2025 but remains subject to customary closing conditions including Nasdaq listing approval and approval from the China Security Regulatory Commission. Management is pursuing divestment of the iSPERSE portfolio and clinical assets concurrent with the merger process.
Pulmatrix (NASDAQ: PULM) reported Q2 2025 financial results and announced plans to divest its inhalation assets, including the proprietary iSPERSE™ technology and three clinical programs, as part of its proposed merger with Cullgen. The company reported zero revenue in Q2 2025, down from $1.6M in Q2 2024, and reduced R&D expenses to under $0.1M from $2.8M year-over-year.
The merger with Cullgen, approved by stockholders on June 16, 2025, awaits Nasdaq and China Security Regulatory Commission approval. Post-merger, the combined entity will focus on targeted protein degrader therapies with three Phase 1 clinical programs. Pulmatrix's cash position of $5.8M as of June 30, 2025, is expected to fund operations through the merger closing.
Pulmatrix (PULM) announced its Q4 and full-year 2024 financial results, highlighting its planned merger with Cullgen expected to close in H1 2025. The company reported revenues of $7.8 million for 2024, up from $7.3 million in 2023. Research and development expenses decreased to $7.2 million from $15.5 million, while general and administrative expenses increased to $7.8 million from $6.5 million.
As part of the merger strategy, Pulmatrix plans to divest its clinical assets, including the Phase 2-ready PUR3100 for acute migraine, PUR1800 for AECOPD, and PUR1900 antifungal treatment. The company's cash position stands at $9.5 million as of December 31, 2024, deemed sufficient until the merger completion.
The company's iSPERSE™ technology portfolio includes 149 granted patents, with 19 U.S. patents expiring between 2024 and 2037, plus approximately 50 pending applications.
Pulmatrix (NASDAQ: PULM) announced a merger agreement with privately-held Cullgen, creating a Nasdaq-listed company focused on targeted protein degradation technology. The combined entity will have approximately $65 million in cash, providing funding through multiple clinical milestones and runway through 2026. The merger includes three degrader programs approaching or in Phase 1 clinical trials - two for cancer treatment and one for acute and chronic pain. As part of the agreement, Pulmatrix will divest its assets, including PUR3100 for acute migraine and other iSPERSE™ technology-based candidates. Cullgen brings its proprietary uSMITE™ platform for developing targeted protein degraders and degrader-antibody conjugates (DACs).
Pulmatrix (PULM) reported Q3 2024 financial results with revenues decreasing to $0.4M from $1.8M in Q3 2023. Research and development expenses decreased to $0.8M from $4.0M, while general and administrative expenses increased to $2.2M from $1.7M. The company's cash position of $10.8M is projected to fund operations into Q4 2026. Key developments include completing PUR1900 wind down activities, closing transactions with MannKind for iSPERSE™ technology licensing, and pursuing strategic alternatives for PUR3100, their acute migraine treatment candidate which is Phase 2-ready.
Pulmatrix (NASDAQ: PULM) announced Q2 2024 financial results and corporate updates. Key highlights include:
- $12.4 million in cash and cash equivalents, with an additional $1.4 million in restricted cash becoming unrestricted in August 2024
- Projected cash runway extended into Q4 2026
- Completed transactions with MannKind , validating iSPERSE™ technology
- Pursuing strategic alternatives for PUR3100 and iSPERSE™ technology
- Revenues decreased to $1.6 million in Q2 2024 from $1.8 million in Q2 2023
- R&D expenses decreased to $2.8 million from $4.2 million year-over-year
- Net loss of $5.8 million in Q2 2024 compared to $3.8 million in Q2 2023
The company is focusing on cost-saving measures and exploring partnerships for its clinical assets.
Pulmatrix announced a series of transactions with MannKind involving a cross-license agreement and transfer of laboratory assets. Pulmatrix's iSPERSE™ technology will be licensed to MannKind, while Pulmatrix gains access to MannKind's Cricket® inhalation device for its PUR3100 formulation, aimed at treating acute migraine. Additionally, MannKind will assume Pulmatrix's lease for its Bedford, Mass. R&D facility, extending Pulmatrix's cash runway into 2026. The agreement, expected to close in July 2024, also includes a master service arrangement for MannKind to provide future dry powder drug formulation services to Pulmatrix.