{"id":871649,"date":"2025-08-06T10:45:55","date_gmt":"2025-08-06T14:45:55","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pulmatrix-announces-second-quarter-2025-financial-results-and-divestment-plan-for-inhalation-assets\/"},"modified":"2025-08-06T10:45:55","modified_gmt":"2025-08-06T14:45:55","slug":"pulmatrix-announces-second-quarter-2025-financial-results-and-divestment-plan-for-inhalation-assets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pulmatrix-announces-second-quarter-2025-financial-results-and-divestment-plan-for-inhalation-assets\/","title":{"rendered":"Pulmatrix Announces Second Quarter 2025 Financial Results and Divestment Plan for Inhalation Assets"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n Proposed merger anticipated to close in 2025<\/i>\n <\/p>\n

\n As part of the proposed merger, Pulmatrix currently intends to divest its assets including its proprietary dry powder delivery technology, iSPERSE\u2122, which enables delivery of small or large molecule drugs to the lungs by inhalation<\/i>\n <\/p>\n

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\n FRAMINGHAM, Mass.<\/span>
\n <\/span>, Aug, 6, 2025<\/span> \/PRNewswire\/ — Pulmatrix, Inc.<\/a>\u00a0(“Pulmatrix” or the “Company”) (Nasdaq: PULM), a biopharmaceutical company that has focused on the development of novel inhaled therapeutic products intended to prevent and treat migraine and respiratory diseases with important unmet medical needs using its patented iSPERSE\u2122 technology, today announced second quarter financial results for 2025 and provided a corporate update.<\/p>\n

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\n \"(PRNewsfoto\/Pulmatrix,
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\n Peter Ludlum<\/span>, Interim Chief Executive Officer of Pulmatrix, commented, “Our focus in the second quarter has been to advance steps to complete the proposed merger with Cullgen, a privately held, clinical-stage biopharmaceutical company focused on the discovery and development of targeted protein degrader therapies for the treatment of pain, cancer and other diseases. During the quarter, the SEC declared our registration statement effective and our stockholders approved the Merger, which will be completed subject to certain closing conditions, including approval from Nasdaq and the China Security Regulatory Commission. If consummated, the proposed merger would create a Nasdaq-listed company focusing on targeted protein degradation technology with three degrader programs in Phase 1 clinical trials \u2013 two for the treatment of cancer and one for the treatment of acute and chronic pain. As part of the proposed merger, Pulmatrix is currently in a process to potentially divest its patent portfolio for our iSPERSE\u2122 technology, as well as three related clinical programs.”<\/p>\n

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\n Proposed Merger with Cullgen<\/i>
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As previously reported, on November 13, 2024<\/span>, the Company entered into an agreement and plan of merger with Cullgen Inc. (“Cullgen”), PCL Merger Sub, Inc. and PCL Merger Sub II, LLC, as amended by Amendment No. 1 thereto on April 7, 2025<\/span> (the “Merger Agreement” and such transaction, the “Merger”).<\/p>\n

Additional information about the Merger Agreement and proposed Merger was previously disclosed in a registration statement on Form S-4 (File No. 333-284993) initially filed with the Securities and Exchange Commission (the “SEC”) on February 14, 2025<\/span>, as amended on April 17, 2025<\/span>, and May 7, 2025<\/span>, and declared effective on May 9, 2025<\/span>.<\/p>\n

On June 16, 2025<\/span>, the Company held a special meeting in lieu of the annual meeting of Pulmatrix stockholders, at which the Company’s stockholders approved the Merger and related proposals. The Closing is subject to other customary closing conditions, including Nasdaq’s approval of the listing of the shares of Pulmatrix common stock to be issued in connection with the Merger and approval from the China Security Regulatory Commission.<\/p>\n

The proposed Merger is anticipated to close in 2025, subject to the satisfaction of the aforementioned closing conditions, among others, however the exact timing of the consummation of the proposed Merger cannot be predicted. If the proposed Merger is completed, the business of Cullgen will continue as the business of the combined company.<\/p>\n

\n Pulmatrix Currently Seeking Divestment of Clinical Assets and Proprietary iSPERSE\u2122 Technology<\/b>\n <\/p>\n

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\n iSPERSE\u2122 Technology<\/i>
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