Pulmatrix Inc. Announces Merger with Cullgen and Asset Divestment Plan

Pulmatrix, Inc., a clinical-stage biotechnology company specializing in therapies for chronic respiratory diseases, has announced a significant corporate development. The company, based in Lexington, United States, is set to merge with Cullgen, a privately held clinical-stage biopharmaceutical firm. This merger is anticipated to close in June 2025, as declared effective by the SEC.

As part of the merger agreement, Pulmatrix plans to divest several of its assets. This includes its Phase 2-ready acute migraine candidate, PUR3100, and other development candidates based on its patented iSPERSE™ technology. The divestment strategy is part of Pulmatrix’s broader corporate update, which also includes the announcement of its first quarter financial results for 2025.

Peter Ludlum, Interim Chief Executive Officer of Pulmatrix, emphasized the company’s focus on advancing the merger with Cullgen. The merger aims to enhance Pulmatrix’s capabilities in developing novel inhaled therapeutic products intended to address unmet medical needs in migraine and respiratory diseases.

Financial Overview and Market Position

As of May 12, 2025, Pulmatrix’s close price stood at $6.4, with a 52-week high of $10.4 on February 17, 2025, and a low of $1.72 on May 28, 2024. The company’s market capitalization is approximately $23,374,592 USD. Pulmatrix is traded on the Nasdaq stock exchange under the ticker symbol PULM.

Shareholder Investigation

In related news, Halper Sadeh LLC, an investor rights law firm, is investigating Pulmatrix along with other companies, including Radius Recycling, Inc., Mr. Cooper Group Inc., and iCAD, Inc., for potential violations of federal securities laws and breaches of fiduciary duties to shareholders. This investigation follows significant corporate transactions involving these companies, such as Radius Recycling’s sale to Toyota Tsusho America, Inc., Mr. Cooper’s sale to Rocket Companies, and iCAD’s sale to RadNet, Inc.

Shareholders of these companies are encouraged to learn more about their rights and options in light of these investigations. Pulmatrix’s involvement in this investigation highlights the importance of transparency and adherence to regulatory standards in corporate governance.

For more information on Pulmatrix’s developments and offerings, stakeholders can visit their website at www.Pulmatrix.com .