Pulmatrix Q2 revenue falls to zero, net loss widens
Overview
Pulmatrix reports Q2 net loss of $1.55 mln, revenue falls to zero
Company plans to divest inhalation assets amid proposed merger with Cullgen
Proposed merger to create Nasdaq-listed company focused on protein degradation
Outlook
Pulmatrix anticipates merger with Cullgen to close in 2025
Company plans to divest iSPERSE™ technology and clinical programs
Pulmatrix expects cash to fund operations until merger closure
Result Drivers
REVENUE DECLINE - Revenue fell to zero due to completion of PUR1900 Phase 2b trial wind down
EXPENSE REDUCTION - R&D expenses decreased significantly due to trial wind down and lab disposal
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | -$0.42 | ||
Q2 Net Income | -$1.55 mln | ||
Q2 Income from Operations | -$1.55 mln | ||
Q2 Operating Expenses | $1.55 mln |
Press Release:
