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 ( PULM ) plans to divest its iSPERSE™ technology as part of a merger

* Company anticipates cash position sufficient to fund operations into Q4 2026

* Pulmatrix ( PULM ) did not provide specific financial guidance for future quarters

Result Drivers

* MERGER FOCUS - Pulmatrix ( PULM ) 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/Mis Actual Consensu

s s

Estimate

Q3 EPS -$0.24

Q3 Net -$877,00

Income 0

Q3 -$866,00

Income 0

from

Operatio

ns

Q3 $866,000

Operatin

g

Expenses

Press Release:

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(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.)