Biopharma Pulmatrix's Q3 revenue drops to $0 as trial ends, plans asset divestment

Reuters

10/16

Biopharma Pulmatrix's Q3 revenue drops to $0 as trial ends, plans asset divestment

Overview

Pulmatrix Q3 2025 revenue decreased to $0, primarily due to winding down PUR1900 clinical trial
Company plans to divest iSPERSE technology amid proposed merger with Cullgen
Pulmatrix's cash position expected to fund operations into Q4 2026

Outlook

Pulmatrix plans to divest its iSPERSE™ technology as part of a merger
Company anticipates cash position sufficient to fund operations into Q4 2026
Pulmatrix did not provide specific financial guidance for future quarters

Result Drivers

MERGER FOCUS - Pulmatrix is advancing steps to complete the proposed merger with Cullgen, which includes divesting its iSPERSE™ technology and related clinical programs
REVENUE DECLINE - Revenue decreased to $0 due to the completion of the wind down of the PUR1900 Phase 2b clinical trial during 2024
COST REDUCTION - R&D and administrative costs fell due to winding down PUR1900 trial, disposal of leases and employee termination

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 EPS		-$0.24
Q3 Net Income		-$877,000
Q3 Income from Operations		-$866,000
Q3 Operating Expenses		$866,000

Press Release: ID:nPn2WNTq8a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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