Pulmatrix Inc
PULM
Pulmatrix Inc AI Insights
Informational only. Not investment advice.Snapshot
- Revenue TTM of just 3K with -6.2M operating loss - burning 2,000x revenue annually. Cash runway ~9 months at current burn rate.[Free Cash Flow TTM]
- Revenue collapsed 91% over 3Y and 81% over 5Y - near-complete business deterioration with minimal commercial activity.[Total Revenue 3Y Growth TTM]
- Zero debt with 4.7M working capital provides survival buffer, but P/S of 4,528x vs industry median 4.1x signals speculative pricing.[P/S Ratio]
Watch Triggers
- Cash and Equivalents: Falls below 2M or financing announced — Sub-2M cash triggers going concern risk; financing terms reveal dilution magnitude
- Research and Development TTM: Increases above 500K — R&D ramp signals renewed pipeline investment and potential catalyst development
- Total Revenue TTM: Any meaningful increase above 100K — Revenue from near-zero would indicate partnership, licensing, or commercial traction
Bull Case
Clean balance sheet (zero debt, 4.7M equity) and micro-cap status (13.6M market cap) creates binary upside if pipeline advances or acquisition occurs.
Trading at 2.9x book value with 4.8M cash - EV of 8.8M implies market assigns minimal value to IP/pipeline, creating optionality.
Bear Case
Near-zero revenue (3K TTM) with 91% 3Y decline indicates failed commercialization. R&D of 47K suggests pipeline is effectively abandoned.
At -6M annual burn, 4.8M cash lasts ~9 months. Dilution or liquidation appears inevitable without external catalyst.
Bull vs Bear Balance
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Forward Thesis
Cash exhaustion likely within 12 months without dilutive financing or partnership
- 4.8M cash vs -6M annual burn rate
- R&D spend collapsed to 47K TTM
- No debt capacity to lever
Public Strategies Rankings
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PULM Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$8.36M | — | ||
$3.57M | — | ||
0.00 | — | ||
$3,000 | -100.0% | — | |
$-1.71 | — | ||
-207,100% | -207025.9% | — | |
-207,333% | -207236.8% | — | |
$-5.99M | — | ||
-0.79 | -16.8% | — | |
Beta 5Y (Monthly) | unknown | — |
PULM Dividend History
PULM Stock Splits
PULM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/16/25 | 09/30/25 | 10-Q | |
08/06/25 | 06/30/25 | 10-Q | |
05/15/25 | 03/31/25 | 10-Q | |
03/21/25 | 12/31/24 | 10-K | |
11/08/24 | 09/30/24 | 10-Q | |
08/13/24 | 06/30/24 | 10-Q | |
05/10/24 | 03/31/24 | 10-Q | |
03/28/24 | 12/31/23 | 10-K | |
11/09/23 | 09/30/23 | 10-Q | |
08/10/23 | 06/30/23 | 10-Q | |
05/12/23 | 03/31/23 | 10-Q | |
03/30/23 | 12/31/22 | 10-K | |
11/10/22 | 09/30/22 | 10-Q | |
08/10/22 | 06/30/22 | 10-Q | |
05/12/22 | 03/31/22 | 10-Q | |
03/29/22 | 12/31/21 | 10-K | |
11/10/21 | 09/30/21 | 10-Q | |
08/10/21 | 06/30/21 | 10-Q | |
05/11/21 | 03/31/21 | 10-Q | |
03/23/21 | 12/31/20 | 10-K | |
11/12/20 | 09/30/20 | 10-Q | |
08/07/20 | 06/30/20 | 10-Q | |
05/14/20 | 03/31/20 | 10-Q | |
03/26/20 | 12/31/19 | 10-K | |
11/01/19 | 09/30/19 | 10-Q | |
08/05/19 | 06/30/19 | 10-Q | |
05/15/19 | 03/31/19 | 10-Q | |
02/19/19 | 12/31/18 | 10-K | |
11/14/18 | 09/30/18 | 10-Q | |
08/03/18 | 06/30/18 | 10-Q | |
05/11/18 | 03/31/18 | 10-Q | |
03/13/18 | 12/31/17 | 10-K | |
11/09/17 | 09/30/17 | 10-Q | |
08/04/17 | 06/30/17 | 10-Q | |
05/05/17 | 03/31/17 | 10-Q | |
03/10/17 | 12/31/16 | 10-K | |
11/04/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
03/10/16 | 12/31/15 | 10-K | |
11/12/15 | 09/30/15 | 10-Q | |
08/14/15 | 06/30/15 | 10-Q | |
06/10/15 | 03/31/15 | 10-K | |
02/13/15 | 12/31/14 | 10-Q | |
11/13/14 | 09/30/14 | 10-Q | |
08/14/14 | 06/30/14 | 10-Q | |
06/30/14 | 03/31/14 | 10-K | |
03/21/14 | 12/31/13 | 424B4 | |
10/31/13 | 09/30/13 | S-1/A | |
10/16/13 | 06/30/13 | S-1/A | |
03/21/14 | 03/31/13 | 424B4 | |
12/31/12 | 12/31/12 | Unknown | -- |
09/30/12 | 09/30/12 | Unknown | -- |
10/16/13 | 06/30/12 | S-1/A |