PULM — what changed in the latest 10-Q
A section-by-section comparison of PULM's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-13 vs the prior 10-Q · 2026-05-15
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +6 | −3 | ~13 | 83 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 2 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Text added/removed | +3 | 0 | ~3 | 5 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-13
In July 2026, Pulmatrix was awarded a patent in India with claims encompassing PUR1900 resulting from a patent hearing in India.
The following table sets forth our results of operations for each of the periods set forth below (in thousands):
Research and development expenses — Research and development expenses were less than $0.1 million for both the six months ended June 30, 2026, and 2025. All clinical development is currently on hold while we work to license or monetize our clinical assets.
General and administrative expenses — General and administrative expenses were $2.3 million for the six months ended June 30, 2026, as compared to $3.4 million for the six months ended June 30, 2025, a decrease of approximately $1.0 million. The decrease was primarily due to lower costs incurred as …
Through June 30, 2026, we incurred an accumulated deficit of $304.5 million, primarily as a result of expenses incurred through a combination of research and development activities related to our various product candidates and general and administrative expenses supporting those activities. We have …
Text removed vs the prior filing · source: 10-Q · 2026-05-15
Comparison of the Three Months Ended March 31, 2026 and 2025
Through March 31, 2026, we incurred an accumulated deficit of $303.5 million, primarily as a result of expenses incurred through a combination of research and development activities related to our various product candidates and general and administrative expenses supporting those activities. We have…
Net cash used in operating activities for the three months ended March 31, 2026, was $1.1 million, which was primarily the result of $1.2 million of net loss, partially offset by $0.1 million of cash flows associated with changes in operating assets and liabilities.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-13
You should carefully consider the risk factors related to our business described under the heading “Risks Related to the Merger” beginning on page 24 of our registration statement on Form S-4 filed with the SEC on August 3, 2026, which such section and risk factors incorporated herein by reference.
You should carefully consider the risk factors related to our business described under the heading “Risks Related to Proposed Reverse Stock Split” beginning on page 30 of our registration statement on Form S-4 filed with the SEC on August 3, 2026, which such section and risk factors are incorporated…
You should carefully consider the risk factors related to our business described under the heading “Risks Related to the Combined Company” beginning on page 60 of our registration statement on Form S-4 filed with the SEC on August 3, 2026, which such section and risk factors are incorporated herein …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice