Business
Pulmatrix Announces Year-End and Fourth Quarter 2024 Financial Results and Divestment Plan for Assets
Pulmatrix, Inc. ("Pulmatrix" or the "Company") (Nasdaq: PULM), a biopharmaceutical company that has focused on the development of novel inhaled therapeutic products intended to prevent and treat migraine and respiratory diseases with important unmet medical needs using its patented iSPERSE™ technology, today announced fourth quarter and year-end financial results for 2024 and provided a corporate update.
About this update from Pulmatrix, Inc.
[{"type":"text","content":"Announced merger agreement with Cullgen in November, anticipated to close in the first half of 2025","length":99,"tagName":"p","attribs":{}},{"type":"text","content":"As part of proposed merger, Pulmatrix intends to divest its assets including its Phase 2-ready acute migraine candidate, PUR3100, and other development candidates based on its iSPERSE™ technology","length":195,"tagName":"p","attribs":{}},{"type":"text","content":"FRAMINGHAM, Mass., March 21, 2025 /PRNewswire/ -- Pulmatrix, Inc. ("Pulmatrix" or the "Company") (Nasdaq: PULM), a biopharmaceutical company that has focused on the development of novel inhaled therapeutic products intended to prevent and treat migraine and respiratory diseases with important unmet medical needs using its patented iSPERSE™ technology, today announced fourth quarter and year-end financial results for 2024 and provided a corporate update.","length":482,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Pulmatrix, Inc.)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Pulmatrix, Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":115,"url":"https://media.zenfs.com/en/prnewswire.com/abe963bfa73f037d806674de8b103712"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GxbYOIvy6fBIB.a6sMT6kg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIwMztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/abe963bfa73f037d806674de8b103712","width":400,"height":115}},"href":"https://mma.prnewswire.com/media/1078018/Pulmatrix_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Peter Ludlum, Interim Chief Executive Officer of Pulmatrix, commented, "Our focus in the fourth quarter has been to advance the proposed merger with Cullgen, a privately held, clinical-stage biopharmaceutical company applying its proprietary targeted protein degradation uSMITE™ platform to discover and advance therapeutics for the treatment of cancer and other diseases. If successful, the proposed merger would create a Nasdaq-listed company focusing on targeted protein degradation technology with three degrader programs in or about to initiate Phase 1 clinical trials – two for the treatment of cancer and one for the treatment of acute and chronic pain. As part of the proposed merger, Pulmatrix is in a process to divest its clinical assets, including ...