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) announced a definitive agreement to issue 6,745 shares of convertible preferred stock and warrants to purchase 5,620,834 shares of common stock, raising approximately $6.75 million in gross proceeds. The preferred stock, convertible at $0.60 per share, has a stated value of $1,000 per share. The warrants will have an exercise price of $0.70 and expire in five years. The funds are intended for general corporate purposes. A special meeting of stockholders will consider a proposal for a reverse stock split.
Pulmatrix, Inc. (NASDAQ: PULM) reported its Q3 2021 financial results, revealing a revenue of $1.1 million, down from $4.4 million in Q3 2020. The company has settled its contract dispute with Cipla, allowing continued development of Pulmazole, addressing allergic bronchopulmonary aspergillosis (ABPA). The net loss for the quarter was $8.2 million, an improvement from a $10.6 million loss in the previous year. Pulmatrix maintains $53.5 million in cash, enabling ongoing clinical trials, with key data expected in 2022.
Pulmatrix, Inc. (NASDAQ: PULM) announced the completion of an amendment to its agreement with Cipla Technologies for the development and commercialization of Pulmazole. Cipla will reimburse 50% of third-party development costs and 40% of Pulmatrix's direct costs, increasing to 50% upon achieving specific milestones. Key milestones include dosing 25% of participants by June 30, 2023, and delivering top-line data by June 30, 2024. Pulmatrix aims to initiate a Phase 2b clinical study of Pulmazole in Q1 2023, following a successful FDA meeting in 2020.
Pulmatrix, Inc. (NASDAQ: PULM) reported its Q2 2021 financial results, showing a revenue decline to $2.2 million from $3.5 million in Q2 2020. The company’s research and development expenses rose to $4.5 million, leading to a net loss of $3.9 million. However, cash reserves improved to $56.9 million from $31.7 million at year-end 2020. Updates included progress in Phase 1b studies for PUR1800 and advancements towards clinical trials for PUR3100, with potential revenue opportunities estimated at $2.4 billion for AECOPD.
Pulmatrix, Inc. (NASDAQ: PULM) announced the appointment of Anand Varadan to its Board of Directors, effective July 26, 2021. Varadan, currently Chief Commercial Officer at Chiasma (NYSE: CHMA), brings valuable commercialization experience. He replaces Mark Iwicki, who resigned on July 23, 2021. CEO Ted Raad expressed optimism about Varadan's contribution to Pulmatrix, focusing on its patented iSPERSE™ technology for inhaled therapies aimed at various diseases. Pulmatrix continues its mission to innovate in pulmonary and non-pulmonary therapies.
Pulmatrix, Inc. (NASDAQ: PULM) reported its Q1 2021 financial results, highlighting significant business updates. The company regained full rights to its narrow spectrum kinase inhibitor portfolio, including PUR1800, following the termination of its agreement with Johnson & Johnson. A Phase 1b clinical study on PUR1800 is ongoing, with top-line data expected in Q4 2021. Financially, Pulmatrix reported a revenue of $1.4 million for Q1 2021, down from $2.8 million in 2020. The company ended the quarter with $63.4 million in cash, compared to $31.7 million at the end of 2020.
Pulmatrix, Inc. (NASDAQ: PULM) will host a key opinion leader (KOL) webinar on its orally inhaled therapy PUR3100 for acute migraine treatment on April 23, 2021. The event will feature expert discussions on the treatment landscape and the potential of dihydroergotamine (DHE) therapies. CEO Ted Raad will provide insights into the business strategy behind PUR3100, which is currently in preclinical investigation, with Phase 1 and Phase 2 data expected in 2022. Registration for the webinar is available online.
Pulmatrix, Inc. (NASDAQ: PULM) announced it will regain full rights to its narrow spectrum kinase inhibitor (NSKI) portfolio, including PUR1800, after Johnson & Johnson's decision to terminate their licensing agreement. Ongoing clinical studies for PUR1800 in treating acute exacerbations of COPD (AECOPD) are progressing, with expected topline data in Q4 2021. A Phase 2 efficacy study is planned for 2022. Notably, toxicology studies indicate favorable outcomes, enhancing the potential for long-term dosing applications. The market potential for PUR1800 could reach approximately $2.5 billion in the U.S.
Pulmatrix, Inc. (NASDAQ: PULM) has regained full rights to its narrow spectrum kinase inhibitor (NSKI) portfolio, including PUR1800, following the termination of its agreement with Johnson & Johnson. The company plans to advance PUR1800's development with ongoing clinical and toxicology studies for treating acute exacerbations in COPD and other chronic airway diseases. The recent studies show promising results, indicating potential long-term dosing benefits. Pulmatrix anticipates topline data from its Phase 1b clinical study in Q4 2021 and expects a Phase 2b efficacy study to begin later this year.
Pulmatrix, Inc. (NASDAQ: PULM) reported its Q4 and full year 2020 financial results, showing a revenue increase to $12.6 million from $7.9 million in 2019. The company completed a registered direct offering, raising $40 million to fund ongoing studies including the PUR1800 Phase 1b. Notable studies include the initiation of the Phase 1b for PUR1800, expected data release in Q4 2021, and efforts for the Pulmazole Phase 2b study. The net loss for 2020 was $19.3 million, largely driven by project costs related to Pulmazole and PUR1800.