Pulmatrix (PULM) Q2 Revenue Falls 100%
(NASDAQ:PULM), a biotechnology company known for its dry powder inhalation delivery platform iSPERSE™, released its second quarter results on August 6, 2025, covering the quarter that ended June 30, 2025. Pulmatrix reported zero revenue for the period ended June 30, 2025. Net loss per share (GAAP) was $(0.42), compared to $(1.59) in Q2 2024. There were no Wall Street analyst estimates available this quarter, but the reported GAAP loss per share of $(0.42) represented a substantial narrowing from last year’s GAAP result of $(1.59) in Q2 2024, mainly due to a near-total reduction in research and development spending. The quarter highlights Pulmatrix’s strategic pivot: winding down its prior clinical business, trimming operational costs, conserving cash, and focusing on completing its merger with Cullgen. The company offered no forward guidance for upcoming quarters as it transitions operations.
Pulmatrix’s core business has centered on developing inhaled therapies using its proprietary iSPERSE™ technology—a dry powder drug delivery platform aimed at improving medication delivery to the lungs. This platform was designed to increase efficiency and tolerability in treatments compared to traditional inhalers or oral medications, positioning the company in the respiratory therapeutics space.
Over the past year, Pulmatrix’s strategic priorities have shifted dramatically. It has halted most clinical operations, halted R spending, and now seeks to divest its iSPERSE™ intellectual property and remaining clinical assets. The company’s ongoing viability depends on successfully completing its pending merger with Cullgen and monetizing its assets or securing royalty streams from former drug candidates such as PUR1900. Key success factors now rest less on product development and more on the execution of these strategic transactions.
Source Fool.com
