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Tag: PULM

  • Pulmatrix, Inc. (PULM) Stock Tumbling in Aftermarket Following Reverse Stock Split Announcement.

    Pulmatrix, Inc. (PULM) Stock Tumbling in Aftermarket Following Reverse Stock Split Announcement.

    Pulmatrix, Inc. (PULM) is a late-stage biotherapeutics company engaged in the development of novel inhaled therapeutics for pulmonary and non-pulmonary disorders. The company utilizes its exclusive iSPERSE technology. The company’s pipeline of products includes therapeutics for allergic bronchopulmonary aspergillosis, chronic obstructive pulmonary disease, and acute migraine.

    The price of PULM stock during regular trading on February 24, 2022, was $0.37 with a dip of 2.02%. At last check in the aftermarket, the stock further dropped by 16.7%.

    PULM: Events and Happenings

    On February 24, 2022, PULM updated on the 1-for-20 reverse split of the company’s common stock with effect from February 28, 2022. Its common stock is likely to trade on the NASDAQ on a split-adjusted basis at market opening on March 1, 2022. On February 1, 2022, PULM issued a letter to its shareholders from CEO Ted Raad. The letter highlighted the company’s accomplishments of 2021 along with the outlook of 2022.

    On December 17, 2021, PULM reported the closure of its registered direct offering for the issuance and sale of approximately 6,745.008 shares of its convertible preferred stock and warrants. The company acquired approximately 5,620,834 shares of its common stock. The net proceeds as a result of the transaction were $6.75 million. The preferred stock shares had a stated value of $1,000 per share while the warrants have an exercise price of $0.70 per share.

    PULM: Key Financials

    On November 10, 2021, PULM released its financial outcomes for the three months ended September 30, 2021. Some of the notable points are mentioned below.

    Revenue

    Revenue in the third quarter of 2021 was $1.1 million in contrast to $4.4 million in the same quarter of 2020. The company observed a decrease of $3.3 million in its revenue over the year. Also, it missed the analysts’ estimated revenue target by -$1.07 million.

    EPS

    Basic and diluted net loss in Q3 2021 was $8.2 million or $0.15 against $10.6 per share million or $0.31 per share in the same quarter of 2020. The company observed a decline in its net loss over the year. Also, it missed the estimated EPS target of -$0.08.

    On November 9, 2021, PULM announced the completion of an amendment to its contract with Cipla Technologies for the development and commercialization of Pulmazole.

    Conclusion

    PULM stock is 77% down the past year as the pandemic hit the economies hard. The recent aftermarket stock dip is the impact of the press release regarding its 1-for-20 reverse stock split. The fourth-quarter earnings release date is approaching and the company expects the revenue around $1.18 million with EPS -$0.08.

  • Pulmatrix Inc. (PULM) stock fell in the current market trading session; here’s why

    Pulmatrix Inc. (PULM) shares were falling -17.05% to trade at $1.07 in the current market at the last check. PULM stock closed the previous session at $1.29. The PULM stock volume remained 3.44 million shares, which was higher than the average daily volume of 3.02 million shares within the past 50 days. PULM shares have fallen by -3.01% over the last 12 months

    What is recently happening in PulmatrixInc?

    Today, the biopharmaceutical company, Pulmatrix, Inc. (PULM) has announced that it will withdraw the portfolio of narrow spectrum kinase inhibitor (NSKI) from Johsnon& Johnson. This news came in due to Johnson & Johnson’s enterprise innovation’s decision to forfeit Pulmatrix’s license, development, and commercialization agreement.

    The NSKI portfolio also contained PUR1800, the development of which the company has stated it will seek to continue. The development will be done with ongoing clinical and toxicology studies which will allow the programs in acute exacerbations in COPD (AECOPD) and other chronic airway diseases to be supported.

    Pulamtrix’s continuance of PUR1800 program

    PULM stock has created a new updated strategy for the PUR1800 program;

    Initially, the current progress is that 28-day toxicology studies have been completed that showed PUR1800 to have improved and stable chemical and physical structure with a reduced potential of drug’s accumulation in the lung. Study has also demonstrated dose proportional systemic exposure and potential for it to be stable for long-term dosing as compared to RV162 (predecessor drug).

    Phase 1b clinical study of PUR1800 in AECOPD is ongoing along with dosing. The objective includes finding the safety, tolerability, and exploratory biomarkers for assisting in the demonstration of target engagement and anti-inflammatory effect. The topline data is expected to be gathered in the 4th quarter of 2021.

    PUR1800’s phase 2b test for proof-of-concept efficacy is to be initiated for the treatment of AECOP in this year. Pulmatrix also has an ongoing toxicology study for long term which will be data from 6-9 months. This will help explore the chronic dosing paradigms and potential where non-steroidal and inti-inflammatory treatment can be of benefit.

    Why PUR1800 program is good for PULM stock

    The CEO of PULM stock, Ted Raad stated that the phase 2b study of AECOPD has a peak-net revenue potential in US of total $2.5 billion. He furthers comments that the combination of iSPERSE along with progress in PUR1800 has an opportunity to address new paradigms of treating steroid resistant and infection driven inflammations related to lung-conditions.

    Insight on the product offerings and background of PULM stock

    PULM stock is about a company based on biopharmaceuticals that focuses on the development of treatments and therapies using innovative and unique approach to its design and creation. The company specifically focuses on addressing pulmonary and non-pulmonary diseases. PULM stock does this through inhaled-specific therapies using their own flagship technology – iSPERSETM.

    iSPERSETM is the proprietary and patented engineered dry powder delivery platform on which all of the candidates for Pulmatrix are based upon. This dry powder platform is specifically chosen for its improved and efficient therapeutic delivery to the lungs as well as reduced side-effects and maximizing local concentrations. All of this improves the overall pulmonary and non-pulmonary health and treatment of the patients.

    Another of the company’s proprietary product pipeline includes treatment of lung-related serious diseases as well as neurologic disorders. This includes bronchopulmonary aspergillosis (ABPA), lung cancers and migraines.