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PULMATRIX, INC.

(PULM)
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Pulmatrix : J&J Terminates License, Development, Commercialization Pact

04/12/2021 | 07:39am EDT

By Colin Kellaher

Pulmatrix Inc. on Monday said Johnson & Johnson has terminated its lung-cancer license, development and commercialization agreement with the company.

The Lexington, Mass., clinical-stage biopharmaceutical company said that as a result of the termination, it will regain full rights to its narrow spectrum kinase inhibitor portfolio, including PUR1800.

Pulmatrix early last year announced the agreement with J&J's Lung Cancer Initiative under which the company received a $7.2 million upfront payment and was eligible for more than $90 million in milestone payments.

Pulmatrix said it plans to continue the development of PUR1800, with ongoing clinical and toxicology studies to support programs in acute exacerbations in chronic obstructive pulmonary disease and other chronic airway diseases.

Pulmatrix shares, which closed Friday at $1.29, fell more than 10% in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

04-12-21 0939ET

Stocks mentioned in the article
ChangeLast1st jan.
JOHNSON & JOHNSON 0.40% 167.74 Delayed Quote.6.16%
PULMATRIX, INC. -6.39% 0.878 Delayed Quote.-21.18%
All news about PULMATRIX, INC.
04/13PULMATRIX  : Other Events, Financial Statements and Exhibits (form 8-K/A)
AQ
04/13UPDATE : Pulmatrix Shares Down Again After Johnson & Johnson Ends Development De..
MT
04/13PULMATRIX  : HC Wainwright Adjusts Pulmatrix' Price Target to $5 From $10, Keeps..
MT
04/12CORRECTED : Pulmatrix to Regain Full Rights to PUR1800 and Narrow Spectrum Kinas..
PR
04/12PULMATRIX  : to Regain Full Rights to Narrow Spectrum Kinase Inhibitor Portfolio..
MT
04/12PULMATRIX, INC.  : Termination of a Material Definitive Agreement, Regulation FD..
AQ
04/12PULMATRIX  : to Regain Full Rights to PUR1800 and Narrow Spectrum Kinase Inhibit..
PR
04/12PULMATRIX  : J&J Terminates License, Development, Commercialization Pact
DJ
04/05PULMATRIX, INC.  : Change in Directors or Principal Officers (form 8-K)
AQ
03/23PULMATRIX  : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RES..
AQ
More news
Financials (USD)
Sales 2021 2,00 M - -
Net income 2021 -20,9 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,53x
Yield 2021 -
Capitalization 52,8 M 52,8 M -
Capi. / Sales 2021 26,4x
Capi. / Sales 2022 -
Nbr of Employees 21
Free-Float 60,5%
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Technical analysis trends PULMATRIX, INC.
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 5,00 $
Last Close Price 0,94 $
Spread / Highest target 433%
Spread / Average Target 433%
Spread / Lowest Target 433%
EPS Revisions
Managers and Directors
NameTitle
Teofilo Raad President, Chief Executive Officer & Director
Michelle Siegert Secretary, Treasurer & Vice President-Finance
Michael John Higgins Chairman
Aidan Curran Head-Research
Mark T. Iwicki Independent Director
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