Pulmatrix, Inc. Files 10-Q for Period Ending March 31, 2024
Ticker: PULM · Form: 10-Q · Filed: May 10, 2024 · CIK: 1574235
Sentiment: neutral
Topics: Pulmatrix, 10-Q, SEC Filing, Financial Report, Biotechnology
TL;DR
<b>Pulmatrix, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational status.</b>
AI Summary
Pulmatrix, Inc. (PULM) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Pulmatrix, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. Pulmatrix, Inc. was formerly known as Ruthigen, Inc., with a name change on April 11, 2013. The filing covers the first quarter of 2024, from January 1, 2024, to March 31, 2024. The company is incorporated in Delaware.
Why It Matters
For investors and stakeholders tracking Pulmatrix, Inc., this filing contains several important signals. This filing provides investors with the latest financial and operational data for Pulmatrix, Inc., crucial for assessing the company's performance and future prospects. Understanding the details within this 10-Q is essential for stakeholders to make informed investment decisions regarding Pulmatrix, Inc. and its market position.
Risk Assessment
Risk Level: low — Pulmatrix, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would elevate the risk level.
Analyst Insight
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Pulmatrix, Inc.'s current financial health and operational progress.
Key Numbers
- 2024-03-31 — Reporting Period End Date (Quarterly report)
- 2024-05-10 — Filing Date (10-Q filing)
- 2013-04-11 — Name Change Date (From Ruthigen, Inc. to Pulmatrix, Inc.)
Key Players & Entities
- Pulmatrix, Inc. (company) — Filer and subject of the report
- Ruthigen, Inc. (company) — Former name of Pulmatrix, Inc.
- 2024-03-31 (date) — End of the reporting period
- 2024-05-10 (date) — Filing date
- Delaware (location) — State of incorporation
- Bedford, MA (location) — Business and mailing address
FAQ
When did Pulmatrix, Inc. file this 10-Q?
Pulmatrix, Inc. filed this Quarterly Report (10-Q) with the SEC on May 10, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Pulmatrix, Inc. (PULM).
Where can I read the original 10-Q filing from Pulmatrix, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Pulmatrix, Inc..
What are the key takeaways from Pulmatrix, Inc.'s 10-Q?
Pulmatrix, Inc. filed this 10-Q on May 10, 2024. Key takeaways: Pulmatrix, Inc. filed a 10-Q report for the period ending March 31, 2024.. The company's fiscal year ends on December 31.. Pulmatrix, Inc. was formerly known as Ruthigen, Inc., with a name change on April 11, 2013..
Is Pulmatrix, Inc. a risky investment based on this filing?
Based on this 10-Q, Pulmatrix, Inc. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major strategic shifts that would elevate the risk level.
What should investors do after reading Pulmatrix, Inc.'s 10-Q?
Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Pulmatrix, Inc.'s current financial health and operational progress. The overall sentiment from this filing is neutral.
How does Pulmatrix, Inc. compare to its industry peers?
Pulmatrix, Inc. operates in the pharmaceutical preparations industry, focusing on developing inhaled therapies.
Are there regulatory concerns for Pulmatrix, Inc.?
As a publicly traded company, Pulmatrix, Inc. is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.
Industry Context
Pulmatrix, Inc. operates in the pharmaceutical preparations industry, focusing on developing inhaled therapies.
Regulatory Implications
As a publicly traded company, Pulmatrix, Inc. is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.
What Investors Should Do
- Analyze the balance sheet and income statement for the quarter ended March 31, 2024.
- Review any disclosures related to significant contracts or agreements.
- Compare the current quarter's financial performance to previous periods.
Key Dates
- 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
- 2024-05-10: Filing Date — Date the 10-Q was officially filed with the SEC.
Year-Over-Year Comparison
This is the initial 10-Q filing for the fiscal year 2024, providing the first look at the company's performance in the current year.
Filing Stats: 4,560 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-05-10 09:20:31
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share PULM The NASDAQ Stock Mar
Filing Documents
- form10-q.htm (10-Q) — 603KB
- ex31-1.htm (EX-31.1) — 20KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 8KB
- 0001493152-24-018579.txt ( ) — 3440KB
- pulm-20240331.xsd (EX-101.SCH) — 33KB
- pulm-20240331_cal.xml (EX-101.CAL) — 49KB
- pulm-20240331_def.xml (EX-101.DEF) — 103KB
- pulm-20240331_lab.xml (EX-101.LAB) — 254KB
- pulm-20240331_pre.xml (EX-101.PRE) — 190KB
- form10-q_htm.xml (XML) — 413KB
—FINANCIAL INFORMATION
PART I—FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (unaudited) 1 Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 4 Notes to Condensed Consolidated Financial Statements 5 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 22 Item 4.
Controls and Procedures
Controls and Procedures 22
—OTHER INFORMATION
PART II—OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 23 Item 1A.
Risk Factors
Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults Upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 23
SIGNATURES
SIGNATURES 24 i PART I—FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements. PULMATRIX, INC. Consolidated Balance Sheets (in thousands, except share and per share data) March 31, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 16,300 $ 19,173 Accounts receivable 570 928 Prepaid expenses and other current assets 712 742 Total current assets 17,582 20,843 Property and equipment, net 1,108 1,158 Operating lease right-of-use asset 10,094 10,309 Long-term restricted cash 1,472 1,472 Other long-term assets 135 176 Total assets $ 30,391 $ 33,958 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 721 $ 1,915 Accrued expenses and other current liabilities 1,677 947 Operating lease liability 383 429 Deferred revenue 363 618 Total current liabilities 3,144 3,909 Deferred revenue, net of current portion - 3,727 Operating lease liability, net of current portion 8,229 8,327 Total liabilities 11,373 15,963 Commitments and contingencies (Note 10) - - Stockholders' equity: Preferred Stock, $ 0.0001 par value — 500,000 shares authorized; 6,746 shares designated Series A convertible preferred stock; no shares issued and outstanding at March 31, 2024 and December 31, 2023 - - Common stock, $ 0.0001 par value — 200,000,000 shares authorized; 3,652,285 shares issued and outstanding at March 31, 2024 and December 31, 2023 - - Additional paid-in capital 305,790 305,592 Accumulated deficit ( 286,772 ) ( 287,597 ) Total stockholders' equity 19,018 17,995 Total liabilities and stockholders' equity $ 30,391 $ 33,958 The accompanying footnotes are an integral part of these condensed consolidated financial statements. 1 PULMATRIX, INC. Consolidated (in thousands, except share and per share data) (unaudited) 2024 2023 Three Months Ended March 31