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ARTICLE | Financial News

Pulmatrix finds public path via Ruthigen merger

June 17, 2015 1:01 AM UTC

Pulmatrix Inc. (NASDAQ:PULM) lost $0.85 to $11.80 in its first day of trading after it completed a reverse merger with Ruthigen Inc. and raised $10 million in a private placement with new investor Altitude Life Science Ventures and existing investors 5AM Ventures; Arch Venture Partners; and Polaris Partners.

Former Pulmatrix shareholders hold 81% of the combined company, which effected a 1-for-2.5 reverse stock split after market close Monday. ...