earnings
confidence high
sentiment negative
materiality 0.55
Pulmatrix Q2 revenue falls 41% to $1.3M; net loss widens to $4.6M; cash $42.9M
Pulmatrix, Inc.
2023-Q2 EPS
reported -$2.87
vs consensus -$1.06
▼ miss
(-170.6%)
- Q2 2022 revenue $1.3M vs $2.2M in Q2 2021; decrease driven by no PUR1800 revenue offset by Cipla agreement for Pulmazole.
- Net loss of $4.6M ($1.36 per share) vs $3.9M ($1.37) in Q2 2021; wider loss on lower revenue.
- Cash and equivalents $42.9M at June 30, 2022; expects to fund operations into Q2 2024.
- PUR3100 Phase 1 study dosed 23 of 24 patients; top-line data expected Q4 2022.
- Pulmazole Phase 2b study start-up initiated; patient dosing on track for Q1 2023.