Business
Pulmatrix Reports Third Quarter 2020 Financial Results and Business Updates
Focused pipeline with multiple potential clinical and regulatory milestones in 2021 Pulmatrix to receive escalating royalties from partner Sensory Cloud upon
About this update from Pulmatrix, Inc.
[{"type":"text","content":"Focused pipeline with multiple potential clinical and regulatory milestones in 2021\n Pulmatrix to receive escalating royalties from partner Sensory Cloud upon sales of FEND, an OTC nasal hygiene product proven to reduce airborne respiratory droplets\n Completed warrant exercise raising approximately $13.6 million in gross proceeds to advance ongoing programs\n\n\n\n LEXINGTON, Mass., Nov. 12, 2020 /PRNewswire/ -- Pulmatrix, Inc. (NASDAQ: PULM), a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary and non-pulmonary disease using its patented iSPERSE™ technology, today reports its Q3 2020 financial results and provides a business update.\n\n \n \n \n \n \n \n\n \n\"Our efforts this quarter have enabled Pulmatrix to emerge with a focused clinical strategy that leverages our iSPERSE™ formulated candidates to address both respiratory and non-respiratory indications,\" said Ted Raad, Chief Executive Officer of Pulmatrix. \"We look forward to 2021 as we plan to progress all of our programs. PUR1800 is planned to begin a clinical trial in early 2021, moving us closer to a potential licensing agreement with J&J for development and commercialization in lung cancer. We are also pleased to advance our first non-respiratory program in acute migraine and believe our inhaled iSPERSE™ formulation may be uniquely suited to address the significant unmet need in the growing migraine market. In addition, after a planned Type-C meeting with the FDA in early 2021, we plan to finalize the protocol for a more impactful Pulmazole Phase 2b study in asthma patients with allergic bronchopulmonary aspergillosis that will include a longer study duration and potential Phase 3 enabling efficacy endpoints.\" \nKey Highlights and Development Updates\nAnnounced in October the commercial launch of FEND with our partner Sensory Cloud. FEND is an OTC nasal hygiene product that is comprised of proprietary Pulmatrix NasoCalm formulations (PUR003 and PUR006) of sodium chloride and calcium chloride salts licensed from Pulmatrix. It is designed to provide, among other potential benefits, an ability to suppress the exhalation of droplets of airway lining fluid, which can transmit airborne infection. Commercial launch provided immediate, broad availability of FEND, with Pulmatrix to receive escalating royalties fr...