Pulmatrix, Inc. terminated Agreement and Plan of Merger and Reorganization with Cullgen Inc. (effective 2026-02-28).
“Pulmatrix, Inc. (the “ Company ” or “ Pulmatrix ”) received a termination notice (the “ Notice ”) from Cullgen Inc. (“ Cullgen ”) pursuant to which Cullgen informed the Company that in accordance with Sections 11.7 and 10.1(b) of that certain Agreement and Plan of Merger and Reorganization, dated as of November 13, 2024, as amended by Amendment No. 1 thereto dated as of April 7, 2025 (the “ Merger Agreement ”), by and among the Company, Pulmatrix and PCL Merger Sub, Inc. and PCL Merger Sub Inc. II, LLC, Cullgen was terminating the Merger Agreement and all related transactions thereunder.”
Peter Ludlum was appointed as Interim Chief Executive Officer at Pulmatrix, Inc..
“the Board approved the appointment of Peter Ludlum as the Interim Chief Executive Officer (the “Interim CEO”), effective as of July 20, 2024”
Teofilo Raad departed as Chief Executive Officer at Pulmatrix, Inc..
“Effective as of the Separation Date, Mr. Raad’s employment with the Company shall cease and Mr. Raad shall relinquish all positions, offices, and authority with the Company and any affiliates, including as a member of the Board”
Earnings Releases
Pulmatrix, Inc. reported three months ended March 31, 2024 results: revenue $5.9 million, net income $0.8 million.
“outside the United States. Within the United States, Pulmatrix and Cipla will seek to monetize PUR1900. First Quarter 2024 Financial Results Revenues increased $4.4 million to $5.9 million for the three months ended March 31, 2024, compared to $1.5 million for the three months ended March 31, 2023. The increase is primarily related to a contract modification of the”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.