Pulmatrix reported FY 2025 results with no revenue, as wind-down activities tied to its Cipla agreement for the PUR1900 program were completed in FY 2024. Net loss was USD 5.2 million in FY 2025, with R&D expense of USD 38,000 and G&A expense of USD 5.1 million. Cash and cash equivalents were USD 4.1 million as of Dec. 31, 2025, and Pulmatrix said its cash position is sufficient to fund operations into Q1 2027. On the corporate front, Pulmatrix said it is continuing efforts to license or monetize its iSPERSE technology and clinical assets, including PUR3100 (a Phase 2-ready inhaled dihydroergotamine acute migraine program with an FDA-cleared IND and “study may proceed” letter), PUR1800 (a narrow spectrum kinase inhibitor for AECOPD with Phase 1b results indicating it was well-tolerated), and PUR1900 (inhaled itraconazole), for which partner Cipla completed a Phase 2 study in India and received approval to proceed to Phase 3; Pulmatrix is eligible for 2% royalties on potential future net sales by Cipla outside the U.S. Pulmatrix also provided an update on its proposed merger with Cullgen, noting stockholder approval was received in June 2025, and that the parties waived the merger agreement’s “no solicitation” clause in December 2025 while continuing to seek China Securities Regulatory Commission approval and other customary closing conditions.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Pulmatrix Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: 202602260805PR_NEWS_USPR_____NE96459) on February 26, 2026, and is solely responsible for the information contained therein.
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