---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-008129"
form_type: "8-K"
ticker: "PULM"
cik: "0001574235"
company_name: "Pulmatrix, Inc."
filed_at: "2026-02-26T23:59:59+00:00"
generated_at: "2026-05-15T23:35:58.397279+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Pulmatrix: $0 revenue in 2025, net loss $5.2M, plans to license iSPERSE

## Summary
- Revenue $0 in 2025 vs $7.8M in 2024; net loss $5.2M ($1.41/share) vs $9.6M.
- Cash and equivalents $4.1M at Dec 31, 2025, down from $9.5M; cash runway into Q1 2027.
- Plans to license or monetize iSPERSE platform and migraine asset PUR3100.
- Proposed merger with Cullgen pending CSRC approval; 'No Solicitation' clause waived to explore alternatives.

## SEC filing metadata
- accession: 0001493152-26-008129
- form_type: 8-K
- ticker: PULM
- cik: 0001574235
- company_name: Pulmatrix, Inc.
- filed_at: 2026-02-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1574235/000149315226008129/0001493152-26-008129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1574235/000149315226008129/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-008129
- JSON: https://secwatch.observer/filing/0001493152-26-008129.json
- Plain text: https://secwatch.observer/filing/0001493152-26-008129.txt

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