Business
Pulmatrix Regains Compliance with Nasdaq Minimum Bid Price Requirement
LEXINGTON, Mass., Jan. 16, 2020 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM) announced today that it received a letter from the listing qualifications
About this update from Pulmatrix, Inc.
[{"type":"text","content":"LEXINGTON, Mass., Jan. 16, 2020 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM) announced today that it received a letter from the listing qualifications department staff of The Nasdaq Stock Market LLC, stating that the Company has regained compliance with Nasdaq's minimum $1.00 per share bid price requirement.\n\n \n \n\n \nThe letter received noted that for the last 10 consecutive business days, from January 2, 2020 to January 15, 2020, the closing bid price of the Company's common stock was $1.00 per share or greater. Accordingly, the Company has regained compliance with Listing Rule 5550(a)(2), and the matter is now closed.\nAbout Pulmatrix \nPulmatrix is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease using its patented iSPERSE™ technology. The Company's proprietary product pipeline is focused on advancing treatments for serious lung diseases, including Pulmazole, an inhaled anti-fungal for patients with allergic bronchopulmonary aspergillosis (\"ABPA\"), and PUR1800, a narrow spectrum kinase inhibitor for patients with obstructive lung diseases including asthma and chronic obstructive pulmonary disease (\"COPD\"). Pulmatrix's product candidates are based on iSPERSE™, its proprietary engineered dry powder delivery platform, which seeks to improve therapeutic delivery to the lungs by maximizing local concentrations and reducing systemic side effects to improve patient outcomes.\nFORWARD-LOOKING STATEMENTS\nCertain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements of historical fact, and may be identified by words such as \"anticipates,\" \"assumes,\" \"believes,\" \"can,\" \"could,\" \"estimates,\" \"expects,\" \"forecasts,\" \"guides,\" \"intends,\" \"is confident that\", \"may,\" \"plans,\" \"seeks,\" \"projects,\" \"targets,\" and \"would,\" and their opposites and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are based on the beliefs of management as well as assumptions made by and information currently available to management. Actual resu...