Pulmatrix - PULM STOCK NEWS

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.

Pulmatrix announced the publication of clinical results for its orally inhaled DHE (PUR3100) for acute migraine in the peer-reviewed journal Headache: The Journal of Head and Face Pain. The Phase 1 study showed that PUR3100 has rapid systemic pharmacokinetics (PK) similar to intravenous (IV) DHE, with a mean time to maximum concentration (Tmax) of 5 minutes and a mean concentration (Cmax) in the therapeutic window for all doses tested.

Compared to IV DHE, PUR3100 demonstrated improved safety and tolerability, with lower incidences of nausea, vomiting, and headache. Pulmatrix received FDA acceptance for an Investigational New Drug (IND) application for a Phase 2 study, and the company is exploring options to advance PUR3100 into Phase 2 trials.

Pulmatrix, Inc. reported $16.3 million cash, with a cash runway into Q1 2026. The partnership amendment with Cipla led to the halt of PUR1900 Phase 2b study, reducing cash burn. Cipla will now develop PUR1900 outside the US. Revenue increased to $5.9 million, net income rose to $0.8 million, and R&D expenses decreased. PUR3100 is Phase 2-ready, while PUR1800 showed positive results for AECOPD treatment.

Pulmatrix, Inc. reported $19.2 million in cash and cash equivalents at the end of 2023, ensuring cash runway until Q1 2026. The 3rd amendment to the Cipla partnership led to the cessation of the PUR1900 Phase 2b study, reducing cash burn. Cipla will now independently develop PUR1900, focusing on high-demand markets, with Pulmatrix receiving a 2% royalty on net sales.

Pulmatrix, Inc. (PULM) announces a further amendment to its agreement with Cipla for the development of PUR1900, refocusing on markets with the greatest unmet need and a faster path to approval. Cipla will take sole responsibility for the development of PUR1900, while Pulmatrix will significantly reduce cash burn and focus on strategic alternatives. Pulmatrix will receive 2% royalties on net sales of Pulmazole in the Cipla Territory.

Pulmatrix, Inc. (PULM) reports Q3 2023 results, with $21.3 million in cash and cash equivalents providing projected cash runway into Q1 2025. Phase 2b study of PUR1900 ongoing with 17 active sites in four countries, topline data expected in H2 2024. Received 'study may proceed' letter for Phase 2 study of PUR3100 for acute migraine.