Earnings News

Earnings Update: Pulmatrix, Inc. (NASDAQ: PULM)

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Pulmatrix, Inc. (NASDAQ: PULM) dwindled -7.88% to trade at $ 0.94 in the recent trading session and its total traded volume was 441694 shares versus to an average volume of 388.35K. The company has market cap of $6.70M. The stock has negative monthly performance of -59.36% while its yearly performance remained -92.77%.

Pulmatrix, Inc. (NASDAQ: PULM) today announces 2018 financial results, reviews the Company’s recent progress.

Financials

Pulmatrix ended 2018 with $2.6 million in cash and cash equivalents compared to $3.8 million as of September 30, 2018.

Revenue for 2018 was $0.2 million, compared to $0.3 million for 2017. The decrease was the result of the conclusion of the CFFT award that began in 2017.

Research and development expense was $13.0 million in 2018 compared to $10.2 million in 2017. The increase was primarily due to increased spend of $1.9 million on the Pulmazole project, $0.5 million on the PUR1800 project and $0.3 million in employment costs.

General and administrative expense was consistent for the two years – $7.5 million for 2018 and $7.6 million for 2017.

There was a $69 goodwill impairment charge in 2018.  There was no impairment charge in 2017.

Net loss for 2018 was $20.6 million compared to a net loss of $18.1 million in 2017. The increase in net loss was primarily attributable to increased spend on the Pulmazole project as we advance toward Phase 2b clinical study commencement. Included in the increased spend were pre-clinical safety PUR1800 project costs and stock-based compensation costs.

Pulmatrix, Inc. (NASDAQ: PULM) has an insider ownership of 0.57% and institutional ownership remained 15.00%. Its return on investment (ROI) for the last 12 month was -131.40% and its return on equity (ROE) of -176.20% for the last 12 months while return on assets (ROA) is at -124.70%.”

The stock demonstrated a positive move of 13.33% in previous 5 days graph. Its quarterly performance remained in the red with the percentage of -76.03%, while its year to date performance showed that the stock plunged overall -57.52% The 52 week range of the stock was $0.72 – 15.31.

 

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