Pulmatrix, Inc. PULM
Pulmatrix, Inc. (Nasdaq: PULM) is a CNS/neurology/psychiatry drug developer. Its lead program, PUR3100 (inhaled dihydroergotamine, iSPERSE), is in Phase 1 for Acute migraine. Its next catalyst on record is PUR1900: Licensee Cipla expected to commence Phase 3 (ex-US; not sponsored by Pulmatrix) (2026).
Upcoming catalysts
No catalyst is dated to the next 30 days or to an FDA action date.
Next further out: PUR1900 — Licensee Cipla expected to commence Phase 3 (ex-US; not sponsored by Pulmatrix) (2026). 1 catalyst on record beyond the next 30 days; subscribers see each with its filing sentence.
Pipeline
| Program | Indication | Modality | Stage |
|---|---|---|---|
| PUR1900 (inhaled itraconazole) | ABPA in asthma / cystic fibrosis (Company's Phase 2b stopped Jan 2024; ex-US development now by licensee Cipla, Phase 3 expected to commence in 2026; Pulmatrix holds 2% ex-US royalty and US rights it seeks to monetize) | small molecule | Phase 2 |
| PUR3100 | Acute migraine (Phase 1 complete 2022; Phase 2 IND cleared Sept 2023 but not started; all development on hold pending financing/partner) | small molecule | Phase 1 |
| PUR1800 | Acute exacerbations of COPD (Phase 1b complete; development on hold) | small molecule | Phase 1 |
Recent results and decisions
- Dec 18, 2025n/a Pulmatrix and Cullgen mutually waived the no-solicitation clause of their merger agreement to explore alternatives while still awaiting China Securities Regulatory Commission approval.
Pulmatrix, Inc. and Cullgen Inc. have mutually agreed to waive the “No Solicitation” clause in the Merger Agreement signed in November 2024 in order to permit each party to explore alternate transactions while continuing to work toward merger approval from the China Securities Regulatory Commission.
Filing
For subscribers
- Cash runway against each catalyst, with the company's own runway statement
- Track record: every Phase 3 readout, FDA decision and guidance slip since 2014
- Expected move for each dated catalyst, from comparable past events
- Phase 2 evidence behind each Phase 3 readout
- Companies on the same target or class
- Full catalyst list with filing sentences, deals, registered trials, Excel export
Other phase 1 CNS/neurology/psychiatry companies
The free Monday brief
Last week's readouts and FDA decisions and the dated catalysts in the week ahead, each with its filing sentence.