Every 10-Q that Pulmatrix, Inc. (PULM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PULM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PULM filings page.
Pulmatrix, Inc. reported unaudited results for the quarter and six months ended June 30, 2026. The company is a development-stage biopharmaceutical business built around its iSPERSE™ dry powder inhalation platform, with clinical programs PUR3100 (acute migraine), PUR1800 (respiratory inflammatory disease) and PUR1900 (inhaled itraconazole), all currently on hold while Pulmatrix seeks to license or otherwise monetize these assets.
Total assets were $3.2 million, including $2.2 million in cash and cash equivalents and $0.7 million in restricted cash. Six‑month operating expenses declined to $2.3 million from $3.4 million a year earlier, and the six‑month net loss narrowed to $2.2 million from $3.4 million. There was no revenue.
In March 2026 Pulmatrix signed a Merger Agreement with Eos SENOLYTIX, Inc. and a concurrent $19 million financing package, including a $1.0 million Series B Convertible Preferred Stock investment into Pulmatrix. Based on the merger exchange ratio, pre‑merger Eos securityholders are expected to own about 94% and existing Pulmatrix stockholders about 6% of the combined company on a fully diluted basis. A Termination Agreement with Eos and Senotherapeutix, Inc. dated June 29, 2026 is identified among the exhibits.
Management states that future operations are highly dependent on the proposed merger and that, without its closing, there is substantial doubt about Pulmatrix’s ability to continue as a going concern beyond one year from issuance of these financial statements. If the merger is not completed, the board may pursue other strategic alternatives, including dissolution and liquidation. Pulmatrix also maintains an unused at‑the‑market equity facility of up to $20.0 million, subject to public float limits.
Pulmatrix, Inc. reported a first-quarter 2026 net loss of $1.2 million, improved from a $1.8 million loss a year earlier, as operating expenses fell to $1.3 million with R&D largely paused and lower general and administrative costs.
Cash and cash equivalents were $3.3 million at March 31, 2026, plus $0.7 million of restricted cash, after raising $1.0 million via Series B Convertible Preferred Stock tied to its planned merger with Eos SENOLYTIX. Management states there is substantial doubt about the company’s ability to continue as a going concern if the Eos merger is not completed and notes the board may consider dissolution and liquidation in that case.
Under the merger terms, Eos stakeholders, including new financing investors, are expected to own about 94% of the combined company on a fully diluted basis, leaving current Pulmatrix stockholders with about 6%, while Pulmatrix’s pipeline of iSPERSE-based inhaled therapeutics remains on hold pending funding or strategic transactions.
Pulmatrix (PULM) filed its Q3 2025 10‑Q, reporting a narrower net loss as operating costs fell sharply while it advances a pending merger with Cullgen. For the quarter ended September 30, 2025, revenue was $0 versus $366,000 a year ago; net loss was $877,000 (vs. $2.6M). Research and development expense was $8,000 and general and administrative was $858,000. Cash and cash equivalents were $4.794M and stockholders’ equity was $4.733M.
Year‑to‑date, net loss was $4.234M (vs. $7.573M), with operating cash use of $4.727M. The company says existing cash will fund corporate operating expenses for at least the next 12 months from issuance. The Cullgen merger remains subject to Nasdaq listing and CSRC approval; under the Merger Agreement, Pulmatrix expects to declare a cash dividend to pre‑merger stockholders equal to net cash above $2.5M, subject to adjustments. On closing, pre‑Merger Cullgen holders are expected to own about 96.4% of the combined company on a fully‑diluted basis. As of October 13, 2025, shares outstanding were 3,652,285.
Pulmatrix (PULM) Q2-25 10-Q highlights: revenue fell to $0 from $1.6 m YoY as development work on PUR1900 wound down. Operating expenses dropped sharply to $1.5 m (-79%), driven by a 98% reduction in R&D to $14 k after the MannKind facility divestiture and staff cuts. Net loss narrowed to $1.5 m (-73%), or -$0.42/sh versus -$1.59/sh last year. Six-month net loss improved to $3.4 m from $5.0 m.
Cash & equivalents declined to $5.8 m (Dec-24: $9.5 m) after $3.7 m operating cash burn; management believes liquidity covers ≥12 months if the Cullgen merger is not completed. Stockholders’ equity fell to $5.6 m.
Cullgen merger: approved by Pulmatrix holders on 16-Jun-25; closing now targeted by 12-Oct-25 pending CSRC and Nasdaq approvals. Pre-merger Pulmatrix investors will receive a cash dividend for net cash above $2.5 m and retain only ~3.6% pro-forma ownership. Termination fees range from $0.42 m to $8.4 m. Failure to close could push Pulmatrix toward liquidation or require new funding.
Warrant liability was re-measured to $0, creating a $67 k gain; 918 k warrants remain outstanding, many expiring July-25. No ATM sales occurred in H1-25; share count steady at 3.65 m.