Pulmatrix, Inc. SEC 10-Q Report

Pulmatrix, Inc., a biopharmaceutical company specializing in the development of novel inhaled therapeutic products using its patented iSPERSE™ technology, has released its Form 10-Q report for the third quarter. The report provides a comprehensive overview of the company's financial performance and operational highlights, reflecting significant developments in its business strategy and product pipeline.

Financial Highlights

• Revenues: $0 million, reflecting a decrease from $1.6 million in the prior year period due to the completion of the wind down of the PUR1900 Phase 2b clinical trial.
• Loss from operations: $(1.5) million, an improvement from $(5.9) million in the prior year period, primarily due to reduced research and development expenses following the MannKind Transaction.
• Net loss: $(1.5) million, compared to $(5.8) million in the prior year period, driven by decreased operating expenses.
• Net loss per share attributable to common stockholders – basic and diluted: $(0.42), compared to $(1.59) in the prior year period, reflecting the reduced net loss.

Business Highlights

• Business Focus: Pulmatrix, Inc. is focused on developing novel inhaled therapeutic products using its patented iSPERSE™ technology, targeting CNS disorders and respiratory diseases.
• Product Pipeline: The company's pipeline includes PUR3100 for acute migraine, PUR1800 for AECOPD, and PUR1900 for ABPA, each leveraging the iSPERSE™ technology for enhanced delivery and efficacy.
• Strategic Merger: Pulmatrix is pursuing a merger with Cullgen Inc., which, if completed, will result in Cullgen's business continuing as the business of the combined company. The merger is subject to customary closing conditions and regulatory approvals.
• Operational Changes: Following the MannKind Transaction, Pulmatrix has reduced its internal research and development team and is now utilizing external resources for further development.
• Future Development Plans: The company plans to pursue further clinical studies for PUR3100, seek partnerships for PUR1800, and explore opportunities to monetize its clinical assets, contingent on securing additional funding.
• Regulatory Progress: The FDA has accepted the IND application for PUR3100, allowing for a Phase 2 study to investigate its safety and efficacy in treating acute migraine.
• Intellectual Property: Pulmatrix continues to invest in its intellectual property portfolio, with a significant number of patents granted and pending worldwide, supporting its iSPERSE™ technology and kinase inhibitors.
• Market Strategy: The company is exploring partnerships and license agreements to support the development and commercialization of its product candidates, aiming to leverage its proprietary technology for new therapeutic opportunities.

SEC Filing: Pulmatrix, Inc. [ PULM ] - 10-Q - Aug. 06, 2025