LEXINGTON, Mass., March 12, 2019 /PRNewswire/ -- Pulmatrix,
Inc. (NASDAQ: PULM) announced today that it received a letter from
the listing qualifications department staff of The NASDAQ Stock
Market LLC, stating that the Company has regained compliance with
NASDAQ's minimum $1.00 per share bid
price requirement.
The letter received noted that for 10 consecutive business days,
from February 26, 2019 to
March 11, 2019, the closing bid price
of the Company's common stock was $1.00 per share or greater. Accordingly, the
Company has regained compliance with Listing Rule 5550(a)(2) and
the matter is closed.
About
Pulmatrix
Pulmatrix
is a clinical stage biopharmaceutical company developing innovative
inhaled therapies to address serious pulmonary disease using its
patented iSPERSE™ technology. The Company's proprietary product
pipeline is focused on advancing treatments for serious lung
diseases, including Pulmazole, an inhaled anti-fungal for patients
with allergic bronchopulmonary aspergillosis ("ABPA"), and PUR1800,
a narrow spectrum kinase inhibitor in development to treat Acute
Exacerbations in Chronic Obstructive Pulmonary Disease (AECOPD).
Pulmatrix's product candidates are based on iSPERSE™, its
proprietary engineered dry powder delivery platform, which seeks to
improve therapeutic delivery to the lungs by maximizing local
concentrations and reducing systemic side effects to improve
patient outcomes.
FORWARD-LOOKING STATEMENTS
Certain statements in this
press release that are forward-looking and not statements of
historical fact are forward-looking statements within the meaning
of the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements include, but
are not limited to, statements that are not statements of
historical fact, and may be identified by words such as
"anticipates," "assumes," "believes," "can," "could," "estimates,"
"expects," "forecasts," "guides," "intends," "is confident that",
"may," "plans," "seeks," "projects," "targets," and "would," and
their opposites and similar expressions are intended to identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management as well as assumptions made by
and information currently available to management. Actual results
could differ materially from those contemplated by the
forward-looking statements as a result of certain factors,
including, but not limited to, delays in planned clinical
trials; the ability to establish that potential products are
efficacious or safe in preclinical or clinical trials; the ability
to establish or maintain collaborations on the development of
therapeutic candidates; the ability to obtain appropriate or
necessary governmental approvals to market potential products; the
ability to obtain future funding for developmental products and
working capital and to obtain such funding on commercially
reasonable terms; the Company's ability to manufacture product
candidates on a commercial scale or in collaborations with third
parties; changes in the size and nature of competitors; the ability
to retain key executives and scientists; and the ability to secure
and enforce legal rights related to the Company's products,
including patent protection. A discussion of these and other
factors, including risks and uncertainties with respect to the
Company, is set forth in the Company's filings with the SEC,
including its annual report on Form 10-K filed with the Securities
and Exchange Commission on February 19,
2019, as may be supplemented or amended by the Company's
Quarterly Reports on Form 10-Q. The Company disclaims any intention
or obligation to revise any forward-looking statements, whether as
a result of new information, future events or otherwise, except as
required by law.
Investor
Contact
|
|
Robert Clarke,
CEO
|
William Duke,
CFO
|
(781)
357-2333
|
(781)
357-2333
|
rclarke@pulmatrix.com
|
wduke@pulmatrix.com
|
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SOURCE Pulmatrix, Inc.