2016 Q1 Form 10-K Financial Statement

#000119312516499264 Filed on March 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 2014 Q4
Revenue $396.0K $1.201M $0.00
YoY Change 277.14% 241.19%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.410M $4.530M $1.097M
YoY Change 85.38% 160.94% 317.11%
% of Gross Profit
Research & Development $3.430M $7.187M $619.0K
YoY Change 273.64% 9.06% 56.71%
% of Gross Profit
Depreciation & Amortization $58.00K $232.0K $0.00
YoY Change -6.45% -32.16%
% of Gross Profit
Operating Expenses $5.839M $24.22M $1.716M
YoY Change 104.73% 156.88% 160.79%
Operating Profit -$5.443M -$23.02M -$1.716M
YoY Change 98.14% 153.61% 160.79%
Interest Expense $223.0K $953.0K $0.00
YoY Change 21.2% -93.76%
% of Operating Profit
Other Income/Expense, Net -$3.000K -$44.00K $4.000K
YoY Change 1366.67%
Pretax Income -$5.670M -$26.17M -$1.710M
YoY Change 265.81% 291.14% 159.09%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.669M -$26.17M -$1.712M
YoY Change 214.42% 8.38% 160.18%
Net Earnings / Revenue -1431.57% -2178.77%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.831M -$32.31M -$9.000M
COMMON SHARES
Basic Shares Outstanding 14.52M shares 4.804M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2016 Q1 2015 2014 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.75M $18.90M $11.57M
YoY Change 42.37% 82.43% 115600.0%
Cash & Equivalents $14.75M $18.90M $451.0K
Short-Term Investments
Other Short-Term Assets $206.0K $1.560M $50.00K
YoY Change 80.7% 875.0% -80.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $15.76M $20.46M $831.0K
YoY Change 49.81% 94.49% 219.62%
LONG-TERM ASSETS
Property, Plant & Equipment $783.0K $690.0K $470.0K
YoY Change 398.73% 331.25%
Goodwill $15.94M
YoY Change
Intangibles $7.534M
YoY Change
Long-Term Investments
YoY Change
Other Assets $200.0K $250.0K
YoY Change
Total Long-Term Assets $24.46M $24.41M $720.0K
YoY Change 15478.98% 15156.25% -38.46%
TOTAL ASSETS
Total Short-Term Assets $15.76M $20.46M $831.0K
Total Long-Term Assets $24.46M $24.41M $720.0K
Total Assets $40.22M $44.87M $1.551M
YoY Change 276.62% 320.13% 8.46%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.272M $1.090M $216.0K
YoY Change -73.98%
Accrued Expenses $1.060M $1.490M $3.544M
YoY Change 65.63% 132.81% 4962.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.682M $1.030M
YoY Change
Total Short-Term Liabilities $4.014M $3.610M $43.46M
YoY Change 532.13% 464.06% 2288.08%
LONG-TERM LIABILITIES
Long-Term Debt $5.069M $5.690M $0.00
YoY Change
Other Long-Term Liabilities $10.00K $10.00K
YoY Change
Total Long-Term Liabilities $5.069M $5.700M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.014M $3.610M $43.46M
Total Long-Term Liabilities $5.069M $5.700M $0.00
Total Liabilities $12.05M $12.27M $44.77M
YoY Change 1783.28% 1817.19% 2360.0%
SHAREHOLDERS EQUITY
Retained Earnings -$133.8M -$101.9M
YoY Change 1191.24%
Common Stock $161.9M $23.14M
YoY Change 693.64%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $28.17M $32.61M -$78.79M
YoY Change
Total Liabilities & Shareholders Equity $40.22M $44.87M $1.551M
YoY Change 276.62% 320.13% 8.46%

Cashflow Statement

Concept 2016 Q1 2015 2014 Q4
OPERATING ACTIVITIES
Net Income -$5.669M -$26.17M -$1.712M
YoY Change 214.42% 8.38% 160.18%
Depreciation, Depletion And Amortization $58.00K $232.0K $0.00
YoY Change -6.45% -32.16%
Cash From Operating Activities -$4.080M -$12.47M -$1.310M
YoY Change 251.72% 131.35% 495.45%
INVESTING ACTIVITIES
Capital Expenditures $73.00K $266.0K $0.00
YoY Change 284.21% -6.67%
Acquisitions
YoY Change
Other Investing Activities $9.670M
YoY Change
Cash From Investing Activities -$70.00K $9.410M $0.00
YoY Change 16.67% -5981.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 21.52M 0.000
YoY Change 6421.21% -100.0%
NET CHANGE
Cash From Operating Activities -4.080M -12.47M -1.310M
Cash From Investing Activities -70.00K 9.410M 0.000
Cash From Financing Activities 0.000 21.52M 0.000
Net Change In Cash -4.150M 18.46M -1.310M
YoY Change 240.16% -453.64% 1537.5%
FREE CASH FLOW
Cash From Operating Activities -$4.080M -$12.47M -$1.310M
Capital Expenditures $73.00K $266.0K $0.00
Free Cash Flow -$4.153M -$12.74M -$1.310M
YoY Change 252.25% 124.42% 495.45%

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ProceedsFromStockOptionsExercised
3000
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2014 us-gaap Increase In Carrying Amount Of Redeemable Preferred Stock
IncreaseInCarryingAmountOfRedeemablePreferredStock
40000
CY2014 us-gaap Extinguishment Of Debt Amount
ExtinguishmentOfDebtAmount
7087000
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IncreaseDecreaseInAccountsPayable
-329000
CY2014 us-gaap Depreciation And Amortization
DepreciationAndAmortization
342000
CY2014 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
8475000
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
342000
CY2014 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0
CY2014 us-gaap Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Preferred Stock
AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemablePreferredStock
40000
CY2014 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Interest
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseInterest
0.180 pure
CY2014 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Merger Transaction Costs
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseMergerTransactionCosts
0.000 pure
CY2014 pulm Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-6453000
CY2014 pulm Cash Restricted For Letter Of Credit
CashRestrictedForLetterOfCredit
200000
CY2014 pulm Conversion Of Notes Payable And Accrued Interest To Convertible Preferred Stock
ConversionOfNotesPayableAndAccruedInterestToConvertiblePreferredStock
7943000
CY2014 pulm Noncash Interest Expenses
NoncashInterestExpenses
15276000
CY2014 pulm Promissory Note Issuance Proceeds Allocated To Beneficial Conversion Feature
PromissoryNoteIssuanceProceedsAllocatedToBeneficialConversionFeature
2256000
CY2014 pulm Promissory Note Issuance Proceeds Allocated To Preferred Stock Warrants
PromissoryNoteIssuanceProceedsAllocatedToPreferredStockWarrants
386000
CY2014 pulm Adjustments To Additional Paid Capital Temporary Equity Repurchase And Financial Liabilities Extinguishment
AdjustmentsToAdditionalPaidCapitalTemporaryEquityRepurchaseAndFinancialLiabilitiesExtinguishment
17731000
CY2014 pulm Beneficial Conversion Features Related To Convertible Promissory Notes To Stockholders Equity
BeneficialConversionFeaturesRelatedToConvertiblePromissoryNotesToStockholdersEquity
2256000
CY2014 pulm Proceeds From Extinguishment Of Debt And Repurchase Of Series Preferred Stock
ProceedsFromExtinguishmentOfDebtAndRepurchaseOfSeriesPreferredStock
-1000
CY2014 pulm Warrant Extinguishment
WarrantExtinguishment
389000
CY2014 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Permanent Differences
EffectiveIncomeTaxRateReconciliationNondeductibleExpensePermanentDifferences
0.000 pure
CY2014 pulm Repurchase Of Notes Payable Preferred Stock And Warrants From Related Party
RepurchaseOfNotesPayablePreferredStockAndWarrantsFromRelatedParty
17731000
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
0.009 pure
CY2015 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-12472000
CY2015 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2015
CY2015 pulm Operating Loss Carryforwards Expiration Date Description
OperatingLossCarryforwardsExpirationDateDescription
Various dates from 2023 through 2035
CY2015 pulm Cash Restricted For Letter Of Credit
CashRestrictedForLetterOfCredit
200000
CY2015 dei Amendment Flag
AmendmentFlag
false
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-3.23
CY2015 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6929691 shares
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001574235
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M16D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y11M1D
CY2015 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Accelerated Filer
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.340 pure
CY2015 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 0pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Concentrations of Credit Risk</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> Cash is a financial instrument that potentially subjects the Company to concentrations of credit risk. For all periods presented, substantially all of the Company&#x2019;s cash was deposited in an account at a single financial institution that management believes is creditworthy. The Company is exposed to credit risk in the event of default by these financial institutions for amounts in excess of the Federal Deposit Insurance Corporation insured limits. The Company maintains its cash at a high quality financial institution and has not incurred any losses to date.</p> </div>
CY2015 pulm Share Based Compensation Arrangements By Share Based Payment Award Options Assumed In Merger Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsAssumedInMergerWeightedAverageExercisePrice
14.07
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.278 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.006 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.038 pure
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2018 shares
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.12
CY2015 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2015 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
198000
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Registrant Name
EntityRegistrantName
Pulmatrix, Inc.
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.13
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1632687 shares
CY2015 dei Document Period End Date
DocumentPeriodEndDate
2015-12-31
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 18pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <b>Use of Estimates</b></p> <p style="MARGIN-BOTTOM: 0pt; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: 10pt 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 6pt; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> In preparing financial statements in conformity with U.S. GAAP, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of expenses during the reporting period. Due to inherent uncertainty involved in making estimates, actual results may differ from these estimates. On an ongoing basis, the Company evaluates its estimates and assumptions. These estimates and assumptions include valuing equity securities in share-based payments, estimating fair value of equity instruments recorded as derivative liabilities, estimating the fair value of net assets acquired in business combinations, estimating the useful lives of depreciable and amortizable assets, valuation allowance against deferred tax assets, goodwill impairment, and estimating the fair value of long-lived assets to assess whether impairment charges may apply.</p> </div>
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
71323 shares
CY2015 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-44000
CY2015 us-gaap Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
3028 shares
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
8089925 shares
CY2015 dei Trading Symbol
TradingSymbol
PULM
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.3928 pure
CY2015 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P3Y1M6D
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-23018000
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17032000
CY2015 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
12000
CY2015 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
4248000
CY2015 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
9671000
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
806000
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
232000
CY2015 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
4457000
CY2015 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
66000
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
232000
CY2015 pulm Operating Lease Agreement Amended Date
OperatingLeaseAgreementAmendedDate
2015-10-27
CY2015 pulm Increase In Deferred Tax Assets Valuation Allowance
IncreaseInDeferredTaxAssetsValuationAllowance
11278000
CY2015 pulm Share Based Compensation Arrangement By Share Based Payment Award Options Assumed In Acquisition
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedInAcquisition
24400 shares
CY2015 pulm Noncash Rent Expense
NoncashRentExpense
-21000
CY2015 pulm Proceeds From Issuance Of Common Stock And Warrants
ProceedsFromIssuanceOfCommonStockAndWarrants
10000000
CY2015 pulm Noncash Interest Expenses
NoncashInterestExpenses
613000
CY2015 pulm Conversion Of Convertible Notes And Accrued Interest Into Common Stock
ConversionOfConvertibleNotesAndAccruedInterestIntoCommonStock
43060000
CY2015 pulm Fair Value Adjustment On Derivative Liability
FairValueAdjustmentOnDerivativeLiability
2291000
CY2015 pulm Gain Loss On Conversion Of Convertible Notes
GainLossOnConversionOfConvertibleNotes
-1170000
CY2015 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2480000
CY2015 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1107000
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
2.12
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y4M28D
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
266000
CY2015 us-gaap Noncash Or Part Noncash Acquisition Value Of Liabilities Assumed1
NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1
3022000
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-26167000
CY2015 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-19093000
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
151000
CY2015 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-26167000
CY2015 us-gaap Revenues
Revenues
1201000
CY2015 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-2291000
CY2015 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
35573000
CY2015 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-13000
CY2015 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
4248000
CY2015 us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
30422000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2015 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1201000
CY2015 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
4500000
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
66000
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
5508000
CY2015 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-1309000
CY2015 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
37000
CY2015 us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
20750000
CY2015 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
18451000
CY2015 us-gaap Operating Expenses
OperatingExpenses
24219000
CY2015 us-gaap Interest Expense
InterestExpense
953000
CY2015 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
9405000
CY2015 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
21518000
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
7187000
CY2015 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1185000
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
151000
CY2015 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
6910000
CY2015 us-gaap Debt Issuance Costs
DebtIssuanceCosts
43000
CY2015 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
23772000
CY2015 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Permanent Differences
EffectiveIncomeTaxRateReconciliationNondeductibleExpensePermanentDifferences
0.028 pure
CY2015 pulm Deferred Tax Assets Tax Credit Carryforwards Expiration Date Description
DeferredTaxAssetsTaxCreditCarryforwardsExpirationDateDescription
Various dates from 2022 through 2035
CY2015 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Interest
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseInterest
0.035 pure
CY2015 pulm Effective Income Tax Rate Reconciliation Nondeductible Expense Merger Transaction Costs
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseMergerTransactionCosts
0.034 pure
CY2015 pulm Net Income Loss Attributable To Common Stockholders Basic And Diluted
NetIncomeLossAttributableToCommonStockholdersBasicAndDiluted
-26167000
CY2015 pulm Intrinsic Value Of Common Stock Warrants Outstanding
IntrinsicValueOfCommonStockWarrantsOutstanding
0
CY2015 pulm Conversion Of Bridge Notes Into Common Stock
ConversionOfBridgeNotesIntoCommonStock
8407000

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