Pulmatrix To Stop PUR1900 Phase 2B Study Patient Enrollment And Closing The Study

(RTTNews) - Clinical-stage biopharmaceutical company Pulmatrix, Inc. (PULM), Monday announced that it has agreed with Cipla to stop patient enrollment of the Ph2b study of PUR1900 at 8 subjects and close the study.

PUR1900 is in development for the treatment of Allergic Bronchopulmonary Aspergillosis (ABPA).

Ted Raad, Chief Executive Officer of Pulmatrix, commented, "Stopping the Ph2b study, along with other cost-savings measures, is expected to extend Pulmatrix's cash runway into Q1 2026. As of December 31, 2023, Pulmatrix cash on hand was approximately nineteen million dollars."

Raad said Pulmatrix will now focus on maximizing shareholder value by pursuing strategic alternatives for the company while it winds down the Ph2b study for PUR1900.

Pursuant to the amended agreement with Cipla, Pulmatrix has granted Cipla exclusive rights to the development and commercialization of PUR1900 in the "Cipla Territory", which has been expanded to include all markets other than the United States.

In the United States, both parties will seek to monetize PUR1900 which has potential for development in areas other than ABPA in Asthma. After the study winddown, Pulmatrix will bear no further financial responsibility for the development of PUR1900 and will receive 2% royalties on net sales of Pulmazole in the Cipla Territory.