Overview

* Pulmatrix ( PULM ) reports Q2 net loss of $1.55 mln, revenue falls to zero

* Company plans to divest inhalation assets amid proposed merger with Cullgen

* Proposed merger to create Nasdaq-listed company focused on protein degradation

Outlook

* Pulmatrix ( PULM ) anticipates merger with Cullgen to close in 2025

* Company plans to divest iSPERSE™ technology and clinical programs

* Pulmatrix ( PULM ) expects cash to fund operations until merger closure

Result Drivers

* REVENUE DECLINE - Revenue fell to zero due to completion of PUR1900 Phase 2b trial wind down

* EXPENSE REDUCTION - R&D expenses decreased significantly due to trial wind down and lab disposal

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.42

Q2 Net -$1.55

Income mln

Q2 -$1.55

Income mln

from

Operatio

ns

Q2 $1.55

Operatin mln

g

Expenses

Press Release:

(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.)