PULM — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-15

• ● the outcome of any legal proceedings that may be instituted against us, Eos, or any of each company’s respective directors or officers related to the Merger Agreement or the transactions contemplated thereby;

• ● should we resume development of our product candidates, difficulties in obtaining financing on commercially reasonable terms, or at all;

• ● should we resume development of our product candidates, intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution, personnel and resources than we …

• ● should we resume development of our product candidates, entry of new competitors and products and potential technological obsolescence of our products;

• ● our ability to maintain compliance with the listing standards of the Nasdaq Capital Market (“Nasdaq”);

Text removed vs the prior filing · source: 10-Q · 2025-10-16

• ● the risk that the Merger Agreement may be terminated in circumstances that require us to pay a termination fee;

• ● the outcome of any legal proceedings that may be instituted against us, Cullgen, or any of each company’s respective directors or officers related to the Merger Agreement or the transactions contemplated thereby;

• ● our ability to maintain compliance with the listing standards of the Nasdaq Capital Market;

• ● should we resume development of our product candidates, difficulties in obtaining financing on commercially reasonable terms, or at all.

• After a comprehensive review of strategic alternatives, including identifying and reviewing potential candidates for a strategic transaction, on November 13, 2024, we entered into the Agreement and Plan of Merger and Reorganization, as amended by Amendment No. 1 (“Amendment No. 1”) thereto on April …

Text added vs the prior filing · source: 10-Q · 2026-05-15

• We have a history of recurring losses and our unaudited condensed consolidated financial statements have been prepared on a going concern basis, and do not include adjustments that might be necessary if we are unable to continue as a going concern. If we are unable to raise capital when needed, we c…

• Our unaudited condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of March 31, 2026, our cash and cash equivalents balance was approximately $3.3…

• The Company’s future operations are highly dependent on the success of the Merger and there can be no assurances that the Merger will be successfully consummated. If the Merger is not consummated, the Company may seek other strategic alternatives or pursue a dissolution and liquidation.

• We anticipate that our cash position is sufficient to fund our operations at least through the anticipated closing of the proposed Merger with Eos. However, management believes that without the closing of the Merger, given our current cash position and forecasted negative cash flows from operating a…

• We will need to raise additional capital to finance our losses and negative cash flows from operations and may continue to be dependent on additional capital raising as long as our products do not reach commercial profitability. There are no assurances that we would be able to raise additional capit…