Pulmatrix, Inc. (Nasdaq: PULM) is a Framingham, Massachusetts clinical-stage biopharmaceutical company developing novel inhaled therapeutic products for migraine and respiratory diseases with unmet medical need. Its candidates are built on iSPERSE, a patented engineered dry powder delivery platform that produces small, dense, highly dispersible particles intended to maximize local concentration in the lung while reducing systemic side effects. The clinical pipeline comprises PUR3100 (orally inhaled dihydroergotamine for acute migraine, Phase 2-ready with an FDA-accepted IND), PUR1900 (inhaled itraconazole, approved to advance to Phase 3 in India through partner Cipla) and PUR1800 (a narrow spectrum kinase inhibitor for acute exacerbations of COPD, with completed Phase 1b studies). In March 2026 Pulmatrix entered a merger agreement with Eos SENOLYTIX, a privately held developer of gerotherapeutic peptides targeting mitochondrial dysfunction, and closed a $1 million Series B convertible preferred placement with an Eos affiliate in April 2026.
What sets it apart
The iSPERSE dry powder platform engineers small, dense, dispersible particles that combine the dispersibility advantages of porous engineered particles, targeting better lung delivery than conventional dry powders and lower systemic exposure than oral or injectable routes; the platform was protected by roughly 146 granted patents and 48 pending applications as of March 31, 2026.
