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Stock-based Compensation
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation

7. Stock-based Compensation

 

The Company sponsors the Pulmatrix, Inc. Amended and Restated 2013 Employee, Director and Consultant Equity Incentive Plan (the “Incentive Plan”). As of March 31, 2025, the Incentive Plan provided for the grant of up to 1,001,550 shares of the Company’s common stock, of which 963,666 shares remained available for future grant.

 

There were no options granted, exercised, forfeited or expired during the three months ended March 31, 2025. The following table summarizes stock options outstanding as of March 31, 2025:

 

  

Number of

Options

  

Weighted-

Average

Exercise

Price

  

Weighted-

Average

Remaining

Contractual Term

(Years)

  

Aggregate

Intrinsic

Value

 
Outstanding — January 1, 2025   34,046   $30.55        $35 
Outstanding — March 31, 2025   34,046   $30.55    6.44   $31 
Exercisable — March 31, 2025   27,483   $36.66    6.17   $18 

 

The Company records stock-based compensation expense related to stock options based on their grant-date fair value. As of March 31, 2025, there was an immaterial amount of unrecognized stock-based compensation expense related to unvested stock options granted under the Company’s stock award plans.

  

The following table presents total stock-based compensation expense for the three months ended March 31, 2025, and 2024:

 

   2025   2024 
  

Three Months Ended

March 31,

 
   2025   2024 
Research and development  $-   $116 
General and administrative   8    82 
Total stock-based compensation expense  $8   $198