Pulmatrix ( (PULM) ) has released its Q4 earnings. Here is a breakdown of the information Pulmatrix presented to its investors.
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Pulmatrix, Inc. is a biopharmaceutical company specializing in the development of novel inhaled therapeutic products for treating migraine and respiratory diseases using its patented iSPERSE™ technology. In its latest earnings report, Pulmatrix announced a merger agreement with Cullgen, expected to close in the first half of 2025, and plans to divest its assets, including its Phase 2-ready acute migraine candidate, PUR3100. The company reported a slight increase in revenues to $7.8 million for 2024, primarily due to a contract modification with Cipla, while research and development expenses decreased significantly as a result of winding down certain clinical trials. Pulmatrix’s general and administrative expenses rose due to legal and professional services costs. The company’s cash position is anticipated to support operations until the merger with Cullgen is finalized. Looking ahead, Pulmatrix’s management remains focused on the successful completion of the merger and the strategic divestment of its clinical assets.