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Pulmatrix ( (PULM) ) has provided an announcement.
Pulmatrix and Cullgen have announced a merger to form a Nasdaq-listed entity focused on targeted protein degradation, with promising clinical trials in cancer and pain management underway. The merger, expected to finalize by March 2025, will see Cullgen shareholders owning the majority stake, while Pulmatrix plans to distribute a cash dividend to its shareholders. This strategic move aims to enhance growth through Cullgen’s innovative drug development platform, with the combined company holding approximately $65 million in funds to support multiple clinical milestones.
For a thorough assessment of PULM stock, go to TipRanks’ Stock Analysis page.