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    PULM

    Pulmatrix, Inc.

    Company overview

    Market capitalization
    $5.81M
    Employees
    2
    Latest publication
    2026-09-29
    About Pulmatrix, Inc.

    Pulmatrix, Inc., a biopharmaceutical company, focused on development of novel inhaled therapeutic products to prevent and treat migraine and respiratory diseases with unmet medical needs in the United States. The company offers iSPERSE, an engineered dry powder delivery platform, which enables delivery of small or large molecule drugs to the lungs by inhalation for local or systemic applications. It engages in developing PUR1800, a narrow spectrum kinase inhibitor completed Phase 1b clinical trials for the treatment of acute exacerbations in chronic obstructive pulmonary disease; PUR1900 for the treatment of allergic bronchopulmonary aspergillosis in patients with asthma and cystic fibrosis; and PUR3100, an iSPERSE formulation of dihydroergotamine which is in Phase 1 for the treatment of acute migraine. It has a license agreement with RespiVert Ltd. for access to a portfolio of kinase inhibitor compounds. The company was founded in 2003 and is headquartered in Framingham, Massachusetts.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Research Development14,000USD3,000USD3,000USD8,000USD14,000USD19,000USD6,000USD814,000USD
    Total Operating Expenses1,046,000USD1,292,000USD870,000USD866,000USD1,534,000USD1,828,000USD1,949,000USD2,209,000USD
    Net Income-1,036,000USD-1,172,000USD-928,000USD-877,000USD-1,549,000USD-1,808,000USD-1,986,000USD-2,587,000USD
    Total Revenue—0USD0USD0USD0USD0USD3,000USD366,000USD
    Selling General Administrative—1,289,000USD911,000USD858,000USD1,534,000USD1,828,000USD1,949,000USD2,209,000USD
    Operating Income—-1,292,000USD-908,000USD-866,000USD-1,548,000USD-1,847,000USD-1,952,000USD-2,657,000USD
    Interest Income—12,000USD20,000USD30,000USD41,000USD53,000USD73,000USD101,000USD
    Net Interest Income—12,000USD20,000USD30,000USD41,000USD53,000USD73,000USD101,000USD
    Income Before Tax—-1,172,000USD-928,000USD-877,000USD-1,549,000USD-1,808,000USD-1,986,000USD-2,587,000USD
    Net Income From Continuing Ops—-1,172,000USD-928,000USD-877,000USD-1,549,000USD-1,808,000USD-1,986,000USD-2,587,000USD
    Ebitda—-1,172,000USD-928,000USD-877,000USD-1,522,500USD-1,781,500USD-1,986,000USD-2,587,000USD
    Total Other Income Expense Net—120,000USD-20,000USD-11,000USD-1,000USD39,000USD-34,000USD70,000USD
    Cost Of Revenue——38,000USD—14,000USD19,000USD6,000USD814,000USD
    Gross Profit——-38,000USD—-14,000USD-19,000USD-3,000USD-448,000USD
    Reconciled Depreciation——0USD0USD0USD0USD0USD0USD
    Other Operating Expenses———866,000USD————
    Ebit————-1,549,000USD-1,808,000USD-1,952,000USD-2,657,000USD
    Depreciation And Amortization————26,500USD26,500USD——
    SourceDisclosurePreliminaryLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20222022-12-31 · USDFY 20182018-12-31 · USDFY 20112011-12-31 · USD
    Total Revenue0USD6,071,000USD153,000USD—
    Cost Of Revenue38,000USD1,545,000USD12,966,000USD—
    Gross Profit-38,000USD6,071,000USD-12,813,000USD—
    Research Development38,000USD18,240,000USD12,966,000USD20,000USD
    Selling General Administrative5,131,000USD6,778,000USD7,518,000USD—
    Total Operating Expenses5,131,000USD25,018,000USD20,484,000USD30,000USD
    Operating Income-5,169,000USD-18,947,000USD-20,331,000USD-30,000USD
    Interest Income144,000USD309,000USD158,000USD—
    Net Interest Income144,000USD309,000USD-186,000USD—
    Income Before Tax-5,162,000USD-18,836,000USD-20,563,000USD-30,000USD
    Net Income-5,162,000USD-18,725,000USD-20,563,000USD-30,000USD
    Net Income From Continuing Ops-5,162,000USD-18,836,000USD-20,563,000USD—
    Ebitda-5,162,000USD-17,402,000USD-20,078,000USD-30,000USD
    Reconciled Depreciation0USD1,545,000USD231,000USD—
    Total Other Income Expense Net7,000USD111,000USD-46,000USD—
    Interest Expense—111,000USD186,000USD0USD
    Income Tax Expense—-111,000USD68,000USD—
    Ebit—-18,947,000USD-20,309,000USD-30,000USD
    Depreciation And Amortization—1,545,000USD231,000USD—
    Net Income Applicable To Common Shares—-18,836,000USD-20,563,000USD—
    Non Operating Income Net Other——-46,000USD—
    Other Operating Expenses———30,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USDQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USD
    Total Assets3,246,000USD4,496,000USD4,139,000USD4,982,000USD6,152,000USD8,051,000USD9,943,000USD11,510,000USD
    Cash And Equivalents2,168,000USD———————
    Total Current Assets3,239,000USD4,489,000USD4,129,000USD4,972,000USD6,142,000USD8,041,000USD9,920,000USD11,446,000USD
    Other Current Assets371,000USD1,165,000USD41,000USD178,000USD317,000USD317,000USD399,000USD641,000USD
    Total Liabilities689,000USD———————
    Total Current Liabilities689,000USD905,000USD329,000USD249,000USD548,000USD903,000USD929,000USD590,000USD
    Total Stockholder Equity2,557,000USD3,591,000USD3,810,000USD4,733,000USD5,604,000USD7,147,000USD8,947,000USD10,920,000USD
    Total Equity Including Noncontrolling Interest2,557,000USD———————
    Accounts Payable529,000USD651,000USD272,000USD69,000USD384,000USD657,000USD809,000USD373,000USD
    Retained Earnings-304,526,000USD-303,490,000USD-302,318,000USD-301,390,000USD-300,513,000USD-298,964,000USD-297,156,000USD-295,170,000USD
    Total Liab—905,000USD329,000USD249,000USD548,000USD904,000USD996,000USD590,000USD
    Other Current Liab—254,000USD57,000USD180,000USD164,000USD246,000USD120,000USD217,000USD
    Capital Stock—950,000USD0USD0USD0USD0USD0USD0USD
    Cash—3,324,000USD4,088,000USD4,794,000USD5,825,000USD7,708,000USD9,521,000USD10,782,000USD
    Cash And Short Term Investments—3,324,000USD4,088,000USD4,794,000USD5,825,000USD7,708,000USD9,521,000USD10,782,000USD
    Net Debt—-3,324,000USD-4,088,000USD-4,794,000USD-5,825,000USD-7,708,000USD-9,521,000USD-10,782,000USD
    Common Stock Shares Outstanding—3,652,285shares3,652,285shares3,652,285shares3,652,285shares3,652,285shares3,652,285shares3,652,285shares
    Non Current Assets Total—7,000USD10,000USD10,000USD10,000USD10,000USD23,000USD64,000USD
    Non Current Liabilities Total—0USD0USD0USD0USD1,000USD67,000USD0USD
    Non Currrent Assets Other—7,000USD10,000USD10,000USD10,000USD10,000USD23,000USD54,000USD
    Net Working Capital—3,584,000USD3,800,000USD4,723,000USD5,594,000USD7,138,000USD8,991,000USD10,856,000USD
    Unclassified Equity—306,131,000USD306,128,000USD306,123,000USD306,117,000USD306,111,000USD306,103,000USD306,090,000USD
    Net Receivables—————16,000USD0USD23,000USD
    Property Plant Equipment Net——————0USD0USD
    Property Plant Equipment Gross——————0USD0USD
    Inventory———————-60,000USD
    SourceDisclosureDeterministicFinalLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Total Assets4,139,000USD9,943,000USD33,958,000USD40,953,000USD58,817,000USD38,169,000USD36,098,000USD14,723,000USD
    Other Current Assets41,000USD399,000USD742,000USD1,068,000USD871,000USD130,000USD777,000USD27,000USD
    Total Liab329,000USD996,000USD15,963,000USD9,844,000USD11,368,000USD15,030,000USD25,079,000USD2,879,000USD
    Total Stockholder Equity3,810,000USD8,947,000USD17,995,000USD31,109,000USD47,449,000USD23,139,000USD11,019,000USD11,844,000USD
    Other Current Liab57,000USD120,000USD947,000USD1,638,000USD1,233,000USD2,102,000USD2,514,000USD1,629,000USD
    Capital Stock0USD0USD0USD0USD1,081,000USD4,000USD2,000USD0USD
    Retained Earnings-302,318,000USD-297,156,000USD-287,597,000USD-273,476,000USD-254,640,000USD-234,469,000USD-215,161,000USD-194,565,000USD
    Cash4,088,000USD9,521,000USD19,173,000USD35,628,000USD53,840,000USD31,657,000USD23,440,000USD2,563,000USD
    Cash And Short Term Investments4,088,000USD9,521,000USD19,173,000USD35,628,000USD53,840,000USD31,657,000USD23,440,000USD2,563,000USD
    Total Current Assets4,129,000USD9,920,000USD20,843,000USD38,147,000USD54,778,000USD32,538,000USD31,417,000USD3,280,000USD
    Total Current Liabilities329,000USD929,000USD3,909,000USD5,022,000USD4,442,000USD8,254,000USD17,200,000USD2,879,000USD
    Net Debt-4,088,000USD-9,521,000USD-10,417,000USD-34,771,000USD-51,552,000USD-29,914,000USD-22,765,000USD-2,563,000USD
    Accounts Payable272,000USD809,000USD1,915,000USD1,188,000USD839,000USD851,000USD600,000USD1,183,000USD
    Common Stock Shares Outstanding3,652,285shares3,652,285shares3,651,911shares3,447,701shares2,708,558shares1,437,666shares836,695shares206,319shares
    Non Current Assets Total10,000USD23,000USD13,115,000USD2,806,000USD4,039,000USD5,631,000USD4,681,000USD11,443,000USD
    Non Current Liabilities Total0USD67,000USD12,054,000USD4,822,000USD6,926,000USD6,776,000USD7,879,000USD1,183,000USD
    Non Currrent Assets Other10,000USD13,000USD176,000USD389,000USD1,625,000USD204,000USD204,000USD204,000USD
    Net Working Capital3,800,000USD8,991,000USD16,934,000USD33,125,000USD50,336,000USD24,284,000USD14,217,000USD401,000USD
    Unclassified Equity306,128,000USD306,103,000USD305,592,000USD304,585,000USD301,008,000USD257,600,000USD228,292,000USD208,525,000USD
    Net Receivables—0USD928,000USD1,298,000USD67,000USD84,000USD7,200,000USD0USD
    Property Plant Equipment Net—0USD11,467,000USD945,000USD2,414,000USD1,850,000USD900,000USD394,000USD
    Property Plant Equipment Gross—0USD13,203,000USD945,000USD2,414,000USD361USD900,000USD394,000USD
    Other Assets——1USD1,861,000USD1,625,000USD1,693USD204,000USD204,000USD
    Current Deferred Revenue——618,000USD1,339,000USD939,000USD4,166,000USD13,411,000USD67,000USD
    Short Term Debt——429,000USD857,000USD1,431,000USD1,135,000USD675,000USD-67,000USD
    Short Long Term Debt Total——8,756,000USD857,000USD2,288,000USD1,743,000USD675,000USD—
    Inventory——-370,000USD153,000USD1USD667,000USD556,000USD—
    Unclassified Non Current Assets——1,471,999USD—-1,625,000USD-3,578,693USD-3,781,000USD—
    Unclassified Non Current Liabilities——12,054,000USD————1,183,000USD
    Other Liab———4,822,000USD6,069,000USD6,168,000USD7,879,000USD—
    Net Tangible Assets———31,109,000USD46,368,000USD19,562,000USD7,442,000USD999,000USD
    Good Will————0USD3,577,000USD3,577,000USD10,845,000USD
    Intangible Assets—————3,577,000USD3,577,000USD—
    Common Stock—————4,000USD2,000USD—
    Non Current Liabilities Other—————608,000USD——
    Accumulated Other Comprehensive Income——————-2,116,000USD-2,116,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow YTD

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ2 20262026-06-30 · USD
    Stock Based Compensation5,000USD
    Change To Liabilities360,000USD
    Change In Working Capital-73,000USD
    Operating Cash Flow-2,173,000USD
    Financing Cash Flow950,000USD
    Change In Cash-1,223,000USD
    End Cash Flow2,875,000USD
    SourceDisclosureDeterministicFinal

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income-1,172,000USD-928,000USD-877,000USD-1,549,000USD-1,808,000USD-1,986,000USD-2,587,000USD-5,811,000USD
    Stock Based Compensation3,000USD5,000USD6,000USD6,000USD8,000USD13,000USD197,000USD103,000USD
    Other Non Cash Items102,000USD217,000USD6,000USD-1,000USD-66,000USD67,000USD-5,433,000USD2,618,000USD
    Change To Account Receivables0USD0USD0USD16,000USD-16,000USD23,000USD612,000USD-65,000USD
    Change In Working Capital102,000USD217,000USD-160,000USD-339,000USD53,000USD645,000USD4,764,000USD-748,000USD
    Total Cash From Operating Activities-1,067,000USD-706,000USD-1,031,000USD-1,883,000USD-1,813,000USD-1,261,000USD-3,059,000USD-3,677,000USD
    Capital Expenditures0USD0USD0USD0USD0USD0USD0USD-244,000USD
    Free Cash Flow-1,067,000USD-706,000USD-1,031,000USD-1,883,000USD-1,813,000USD-1,261,000USD-3,059,000USD-3,921,000USD
    Total Cash From Financing Activities1,000,000USD———0USD0USD0USD0USD
    Issuance Of Capital Stock1,000,000USD———0USD0USD0USD0USD
    Change In Cash-67,000USD-706,000USD-1,031,000USD-1,883,000USD-1,813,000USD-1,261,000USD-3,059,000USD-2,500,000USD
    Begin Period Cash Flow4,098,000USD4,804,000USD5,835,000USD7,718,000USD9,531,000USD10,792,000USD13,851,000USD16,300,000USD
    End Period Cash Flow4,031,000USD4,098,000USD4,804,000USD5,835,000USD7,718,000USD9,531,000USD10,792,000USD13,800,000USD
    Other Cashflows From Financing Activities1,000,000USD——————-244,000USD
    Depreciation—0USD0USD0USD0USD0USD0USD161,000USD
    Investments——0USD0USD0USD0USD0USD-244,000USD
    Sale Purchase Of Stock——————-311,437,000USD311,437,000USD
    Unclassified Financing Cash Flow——————311,437,000USD-311,193,000USD
    Total Cashflows From Investing Activities———————-244,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USDFY 20192019-12-31 · USDFY 20182018-12-31 · USD
    Net Income-5,162,000USD-9,559,000USD-14,121,000USD-18,836,000USD-20,171,000USD-19,308,000USD-20,596,000USD-20,563,000USD
    Depreciation0USD435,000USD1,475,000USD1,545,000USD1,236,000USD1,043,000USD765,000USD231,000USD
    Stock Based Compensation25,000USD511,000USD954,000USD1,114,000USD1,158,000USD1,158,000USD2,066,000USD2,973,000USD
    Other Non Cash Items-67,000USD2,685,000USD8,000USD4,924,000USD3,577,000USD9,289,000USD7,268,000USD38,000USD
    Change To Account Receivables0USD928,000USD370,000USD-1,231,000USD17,000USD7,116,000USD-7,200,000USD-7,200,000USD
    Change In Working Capital-229,000USD-4,788,000USD-4,301,000USD-3,179,000USD-5,527,000USD-4,665,000USD13,727,000USD484,000USD
    Total Cash From Operating Activities-5,433,000USD-10,716,000USD-15,985,000USD-19,356,000USD-19,727,000USD-12,483,000USD3,230,000USD-16,761,000USD
    Capital Expenditures0USD-398,000USD-676,000USD-86,000USD-144,000USD-281,000USD-58,000USD-19,000USD
    Free Cash Flow-5,433,000USD-11,114,000USD-16,661,000USD-19,442,000USD-19,871,000USD-12,764,000USD3,172,000USD-16,780,000USD
    Change In Cash-5,433,000USD-11,114,000USD-16,608,000USD-18,212,000USD23,604,000USD8,217,000USD20,877,000USD-987,000USD
    Begin Period Cash Flow9,531,000USD20,645,000USD37,253,000USD55,465,000USD31,861,000USD23,644,000USD2,767,000USD3,550,000USD
    End Period Cash Flow4,098,000USD9,531,000USD20,645,000USD37,253,000USD55,465,000USD31,861,000USD23,644,000USD2,563,000USD
    Investments—-398,000USD-380,000USD-86,000USD-144,000USD-281,000USD-58,000USD-19,000USD
    Total Cashflows From Investing Activities—-398,000USD-676,000USD-86,000USD-144,000USD-281,000USD-58,000USD-19,000USD
    Total Cash From Financing Activities—0USD53,000USD1,230,000USD43,475,000USD20,981,000USD17,705,000USD15,793,000USD
    Issuance Of Capital Stock—0USD53,000USD1,382,000USD43,271,000USD7,314,000USD17,545,000USD19,297,000USD
    Other Cashflows From Financing Activities——-676,000USD-152,000USD9,593,000USD13,667,000USD160,000USD19,297,000USD
    Change To Liabilities———-336,000USD-3,475,000USD-10,656,000USD21,592,000USD505,000USD
    Sale Purchase Of Stock———-152,000USD—20,981,000USD17,705,000USD19,297,000USD
    Unclassified Operating Cash Flow———-4,924,000USD————
    Unclassified Financing Cash Flow———1,534,000USD-6,192,000USD-13,667,000USD—-19,542,000USD
    Change To Inventory————-2,069,000USD-1,125,000USD220,000USD—
    Net Borrowings————0USD——-3,259,000USD
    Dividends Paid————-3,197,000USD———
    Cash And Cash Equivalents Changes—————8,217,000USD20,877,000USD-987,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    PeriodDimensionBusiness / regionRevenueCurrencySource
    FY 2021Yearly · 2021-12-31ProductOther69,000USD0001493152-23-009609
    FY 2021Yearly · 2021-12-31ProductResearch And Development3,700,000USD0001493152-23-009609
    FY 2021Yearly · 2021-12-31ProductResearch And Development Service1,400,000USD0001493152-23-009609
    FY 2020Yearly · 2020-12-31ProductOther25,000USD0001493152-22-007957
    FY 2020Yearly · 2020-12-31ProductResearch And Development6,854,000USD0001493152-22-007957
    FY 2020Yearly · 2020-12-31ProductResearch And Development Service5,749,000USD0001493152-22-007957
    FY 2020Yearly · 2020-12-31ProductRoyalty6,000USD0001493152-22-007957
    FY 2019Yearly · 2019-12-31ProductIrrevocable License1,612,000USD0001193125-20-086168
    FY 2019Yearly · 2019-12-31ProductResearch And Development Service6,298,000USD0001193125-20-086168
    FY 2016Yearly · 2016-12-31ProductLong Acting Muscarinic Agent Collaboration Agreement835,000USD0001193125-17-077912
    FY 2016Yearly · 2016-12-31ProductMaterial Transfer Agreement0USD0001193125-17-077912
    FY 2015Yearly · 2015-12-31ProductLong Acting Muscarinic Agent Collaboration Agreement1,019,000USD0001193125-17-077912
    FY 2015Yearly · 2015-12-31ProductMaterial Transfer Agreement77,000USD0001193125-17-077912
    FY 2015Yearly · 2015-12-31ProductOther105,000USD0001193125-17-077912

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.