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Pulmatrix, Inc. (PULM)

Stonegate Capital Partners just initiated coverage on this biotech company.

Pulmatrix, Inc. (PULM)
From The Konlin Letter

Pulmatrix, Inc. (PULM) is a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary disease. PULM’s proprietary product pipeline is focused on advancing treatments for rare diseases, including PUR1900, an inhaled anti-fungal for patients with Cystic Fibrosis (CF), as well as PUR1500, an inhaled product for the treatment of idiopathic pulmonary fibrosis (IPF). CF and IPF are rare diseases with a substantial unmet need and are marked by steady decline in lung function and quality of life.

In addition, PULM intends to pursue opportunities in major pulmonary diseases through collaborations that include PUR0200, a branded generic of a global approved drug for chronic obstructive pulmonary disease (COPD). PUR0200 is in clinical development in Europe and in partnership with Mylan N.V., one of the world’s leading global pharmaceutical companies.

In fact, utilizing PULM’s iSPERSE™ technology, the company seeks to create better products for patients. iSPERSE™ technology enables easier and more effective delivery of drugs to the lung and can be applied to multiple types of therapeutic agents (small molecules and antibodies) and diseases.

PULM has $22 million in cash, cash equivalents and short-term investments ending September 2015. Of the 14, 516,010 shares outstanding, 26% are closely held and 36% owned by institutions.

The stock jumped off its October 3.30 low and hit 5.00, up 44%, reclaimed its 50-Day MA and closed above the 5.00 level of resistance, and then traded at 5.50, signaling our 1st target of 8.50-9.50.

PULM expects to be in the clinic with CF patients with PUR1900 in the second half of 2016. PUR1900 also has potential prophylactic applications in other immunocompromised patients who are at risk of fungal infections associated with their diseases. Considering parallel clinical development of PUR1900 for these other rare and orphan immunocompromised indications, the anticipated annual worldwide market opportunity exceeds $1 billion. Ultimate target 14.00.

Konrad Kuhn, The Konlin Letter,, 631-744-8536, December 30, 2015