UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14A INFORMATION
Proxy
Statement Pursuant to Section 14(a) of
the
Securities Exchange Act of 1934
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by the Registrant ☒
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by a Party other than the Registrant ☐
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Preliminary
Proxy Statement
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Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive
Proxy Statement
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Definitive
Additional Materials
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Soliciting
Material Pursuant to §240.14a-12
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PULMATRIX,
INC.
(Name
of Registrant as Specified In Its Charter)
(Name
of Person(s) Filing Proxy Statement, if other than the Registrant)
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of Filing Fee (Check the appropriate box):
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Fee
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Pulmatrix
Issues Letter to Stockholders
LEXINGTON,
Mass., February 1, 2022 /PRNewswire/ — Pulmatrix, Inc. (NASDAQ: PULM), a clinical stage biopharmaceutical company
developing innovative inhaled therapies to address serious pulmonary and non-pulmonary disease using its patented iSPERSE™ technology,
issued the following letter to stockholders from Chief Executive Officer Ted Raad.
Pulmatrix
Letter to Stockholders – 2021 Review and 2022 Outlook
To
the stockholders of Pulmatrix,
I
would like to take this opportunity to thank you for your support as we continue to design and execute on clinical programs that we believe
will support advancement toward pivotal stage studies. The Company aims to utilize its proprietary iSPERSE platform to deliver novel
therapeutics that address significant unmet medical need and, by doing so, create long-term stockholder value. We believe that demonstrating
proof of concept in our upcoming Ph2 trials is the key to achieving a valuation commensurate with the promise of our pipeline.
2021
Review
Before
looking ahead to 2022, I would like to highlight the many accomplishments of our team in 2021 below:
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Regulatory
clarity - Completed an FDA Type-C meeting regarding Pulmazole. Based on feedback from the FDA we expect to commence a Phase 2b study
in Q1 2023 with registration endpoints in allergic bronchopulmonary aspergillosis (ABPA) expected to generate topline data in Q2
2024. If successful, these data may enable a Phase 3 registration study.
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Partnership
resolution - Resolved outstanding contract dispute with partner Cipla, allowing us to progress together with this more meaningful
Phase 2b study that aims to provide efficacy and safety data for Pulmazole to further inform pivotal clinical plans.
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Expanded
Potential Indications – PUR1800 was safe and well tolerated in 6-month rat and 9-month dog studies, demonstrating no progression
of histopathological effects from 28-Day results. These results support potential for chronic dosing, which may allow Pulmatrix to
pursue other indications in addition to the current development plan for Acute Exacerbations in Chronic Obstructive Pulmonary Disease
(AECOPD).
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Near
term catalyst - Regained full rights to PUR1800 and the broader portfolio of kinase inhibitors. PUR1800 Phase 1b top-line data are
expected in Q1 2022 and is anticipated to enable a Ph2 efficacy study in AECOPD. Combined with the long-term tox data, we believe
that Ph1b results will also present a compelling body of data for potential partnership opportunities.
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Socializing
the Pipeline Story - Hosted a Key Opinion Leader event for the investment community on PUR3100, our orally inhaled dihydroergotamine
(DHE) therapy. Top migraine experts highlighted the potential benefits that PUR3100 (iSPERSE enabled DHE) may provide to improve
the standard of care and address the unmet needs of acute migraine sufferers.
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Robust
financial position - Successfully strengthened the balance sheet with approximately $47 million in gross proceeds, allowing Pulmatrix
to pursue clinical data milestones for PUR1800 Phase 1b, PUR3100 Phase 1 and Phase 2 and Pulmazole Phase 2b trials. Our current cash
provides sufficient capital to fund us into 2024.
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Outlook
and Commentary
Despite
the ongoing market and sector turmoil affecting the stocks of development stage biotech companies, we are very enthusiastic about the
next several years at Pulmatrix as we consider the significant unmet needs that our iSPERSE enabled products may address. Further, we
believe that our upcoming clinical programs, if successful, have the potential to impact millions of patients and create significant
stockholder value.
While
we are proud of our strong balance sheet and the clinical development plans that it facilitates, we believe that our current stock price
per share limits our ability to attract certain institutional stockholders that have policies which prevent investment in companies below
certain price per share thresholds. Moreover, if the current turbulence continues to affect our stock, we could face delisting from NASDAQ
if our stock continues to trade below $1 per share. Therefore, at the upcoming special meeting (the “Special Meeting”), management
and the Board urge you to support Proposal 1 - a reverse split, in the case that it becomes necessary despite our planned request for
a 180-day extension to allow the Company to regain compliance organically and Proposal 2 - adjournment.
How
to Vote
To
vote, or if you have any questions or need assistance voting your shares, please contact the firm assisting us with the solicitation
of proxies:
Kingsdale
Advisors
1-877-659-1820
(toll free)
contactus@kingsdaleadvisors.com
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Sincerely,
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Ted
Raad
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CEO
of Pulmatrix, Inc.
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About
Pulmatrix, Inc.
Pulmatrix
is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary and non-pulmonary
disease using its patented iSPERSE™ technology. The Company’s proprietary product pipeline includes treatments for serious
lung diseases, such as allergic bronchopulmonary aspergillosis (“ABPA”), COPD, and neurologic disorders such as acute migraine.
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 letter 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 of historical fact and statements regarding the intended use of proceeds from the registered direct offering
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, the effect that the reverse stock split, if approved and effected, may have on the price of our common stock; the impact of the novel
coronavirus (COVID-19) on the Company’s ongoing and planned clinical trials; the geographic, social and economic impact of COVID-19
on the Company’s ability to conduct its business and raise capital in the future when needed; 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;
the ability to secure and enforce legal rights related to the Company’s products, including patent protection; and the outcome
of the Company’s dispute with Cipla regarding the continued development of Pulmazole. 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
most recent annual report on Form 10-K, as amended, 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.
Additional
Information and Where to Find It
In
connection with the upcoming Special Meeting, the Company filed a definitive proxy statement (the “Proxy Statement”) with
the Securities Exchange Commission (“SEC”) on December 30, 2021 and may also file other relevant documents with the SEC regarding
the proposals to be considered at the Special Meeting. The reverse stock split proposal referenced in the letter above has been submitted
to Pulmatrix’s stockholders for their consideration. The Proxy Statement, as well as the form of proxy, has been made available
to all holders of record of Pulmatrix’s Common Stock and Preferred Stock in connection with the reverse stock split. This letter
does not contain all the information that should be considered concerning the reverse stock split and is not intended to form the basis
of any investment decision or any other decision in respect of the reverse stock split. Pulmatrix’s stockholders and other interested
persons are advised to read the Proxy Statement and any amendments thereto and other documents filed in connection with the reverse stock
split, as these materials will contain important information about Pulmatrix and the reverse stock split. Pulmatrix stockholders may
obtain copies of the Proxy Statement and other documents filed with the SEC, without charge, at the SEC’s website at www.sec.gov,
or by directing a request to Pulmatrix’s corporate secretary at Pulmatrix, Inc., 99 Hayden Avenue, Suite 390, Lexington, Massachusetts
02421; telephone number (781) 357-2333.
Participants
in Solicitation
Pulmatrix
and its directors and executive officers may be deemed participants in the solicitation of proxies from Pulmatrix’s stockholders
with respect to the proposed reverse stock split. A list of the names of those directors and executive officers and a description of
their interests in Pulmatrix is contained in Pulmatrix’s definitive proxy statement for its 2021 Annual Meeting of Stockholders,
which was filed with the SEC and is available free of charge at the SEC’s web site at www.sec.gov. To the extent such holdings
of Pulmatrix’s securities may have changed since that time, such changes have been or will be reflected on Statements of Change
in Ownership on Form 4 filed with the SEC. Additional information regarding the interests of such participants, if any, are contained
in the Proxy Statement for the proposed reverse stock split.
Grafico Azioni Pulmatrix (NASDAQ:PULM)
Storico
Da Mar 2025 a Apr 2025
Grafico Azioni Pulmatrix (NASDAQ:PULM)
Storico
Da Apr 2024 a Apr 2025
