---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-011082"
form_type: "8-K"
ticker: "PULM"
cik: "0001574235"
company_name: "Pulmatrix, Inc."
filed_at: "2025-03-21T23:59:59+00:00"
generated_at: "2026-05-24T08:42:03.533457+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Pulmatrix reports 2024 net loss of $9.6M; proposes merger with Cullgen and asset divestment

## Summary
- Net loss for 2024 of $9.6M ($2.62 per share) vs $14.1M ($3.87 per share) in 2023.
- Revenues increased to $7.8M from $7.3M, driven by a contract modification with Cipla.
- Cash and equivalents $9.5M; sufficient to fund operations through anticipated Merger close in H1 2025.
- Proposed merger with Cullgen expected to close H1 2025; plans to divest Phase 2-ready PUR3100 and iSPERSE technology.
- PUR1900 Phase 2b enrollment paused; no further financial responsibility; 2% royalties on future net sales outside U.S.

## SEC filing metadata
- accession: 0001493152-25-011082
- form_type: 8-K
- ticker: PULM
- cik: 0001574235
- company_name: Pulmatrix, Inc.
- filed_at: 2025-03-21T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1574235/000149315225011082/0001493152-25-011082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1574235/000149315225011082/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-011082
- JSON: https://secwatch.observer/filing/0001493152-25-011082.json
- Plain text: https://secwatch.observer/filing/0001493152-25-011082.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.