It has been a pretty tough time for Pulmatrix in recent times and that has been reflected in its stock price as well. Over the course of the past couple of months, the Pulmatrix Inc (NASDAQ: PULM) stock has been in the middle of a steady decline and lost 65%.
On Tuesday, there was more bad news for the company as it emerged that the Johnson & Johnson subsidiary Johnson & Johnson Enterprise Innovation canceled the company’s license. The commercialization and development agreement was also terminated.
Following this development, Pulmatrix is going to get back the full rights pertaining to its narrow spectrum kinase inhibitor and that will include PUR 1800 as well. Despite the setback, the company is going to continue to work on the development of PUR 1800. More importantly, the Chief Executive Officer of Pulmatrix Ted Raad stated that after regaining full rights, the company will be able to further advance its interests in the biggest markets.
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Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life