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An announcement from Pulmatrix ( (PULM) ) is now available.
On December 17–18, 2025, Pulmatrix and Cullgen entered into a mutual waiver agreement that suspends the “No Solicitation” clause in their November 2024 merger agreement, allowing both parties to explore alternative strategic transactions while they continue to pursue required approval for the merger from the China Securities Regulatory Commission and satisfy other closing conditions, including Nasdaq listing approval. The move, which follows Pulmatrix shareholders’ approval of the merger in June 2025 and comes amid a still-pending Chinese regulatory review, introduces greater strategic flexibility for both companies and underscores the deal’s execution risk, even as Pulmatrix highlights the ongoing value of its iSPERSE-based clinical assets and its current cash runway into late 2026 for stakeholders evaluating its prospects with or without the Cullgen combination.
Spark’s Take on PULM Stock
According to Spark, TipRanks’ AI Analyst, PULM is a Neutral.
Pulmatrix’s overall score reflects significant profitability challenges and negative cash flows, despite a strong balance sheet with no debt. Technical indicators suggest moderate upward momentum, yet the negative valuation metrics due to ongoing losses detract from its appeal.
To see Spark’s full report on PULM stock, click here.
More about Pulmatrix
Pulmatrix Inc., based in Framingham, Massachusetts, is a biopharmaceutical company focused on developing novel inhaled therapeutic products to prevent and treat migraine and respiratory diseases with significant unmet medical needs, leveraging its patented iSPERSE dry powder delivery technology. Its pipeline targets central nervous system disorders such as acute migraine and serious lung diseases including chronic obstructive pulmonary disease and allergic bronchopulmonary aspergillosis, and is supported by an extensive patent portfolio and multiple clinical-stage assets, while the company reported cash and cash equivalents of $4.8 million as of September 30, 2025, which it expects will fund operations into at least the fourth quarter of 2026.
Average Trading Volume: 11,929
Technical Sentiment Signal: Sell
Current Market Cap: $14.97M
See more data about PULM stock on TipRanks’ Stock Analysis page.