REDWOOD CITY, Calif., Nov. 05, 2024 (GLOBE NEWSWIRE) -- Pulmonx Corporation (Nasdaq: LUNG) (“Pulmonx”) a global leader in minimally invasive treatments for severe lung disease, today announced the company will be participating in a fireside chat at the Stifel 2024 Healthcare Conference in New York on Tuesday, November 19, 2024, at 6:10 AM PT / 9:10 AM ET. A live and archived webcast of the presentation will be available on “Investors” section of the Pulmonx website at https://investors.pulmonx.com/. About P ...

Shares of Pulmonx Corporation (LUNG) have gained 1.6% over the past four weeks to close the last trading session at $7.12, but there could still be a solid upside left in the stock if short-term price targets of Wall Street analysts are any indication. Going by the price targets, the mean estimate of $13.50 indicates a potential upside of 89.6%.The average comprises six short-term price targets ranging from a low of $10 to a high of $17, with a standard deviation of $3.21. While the lowest estimate indicate ...

Revenue and Financial Performance - Revenue for the three months ended September 30, 2024, was $20.4 million, a 15.3% increase from $17.7 million for the same period in 2023, with a gross margin of 73.7%[130] - For the nine months ended September 30, 2024, revenue was $60.0 million, up 21.4% from $49.4 million in the same period in 2023, with a gross margin of 74.0%[130] - Revenue increased by $2.7 million, or 15.4%, to $20.4 million for the three months ended September 30, 2024, compared to $17.7 million for the same period in 2023[158] - For the nine months ended September 30, 2024, revenue increased by $10.6 million, or 21.5%, to $60.0 million compared to $49.4 million for the same period in 2023[167] - Revenue from sales outside the United States represented 32.4% of total revenue for the nine months ended September 30, 2024, compared to 34.8% for the same period in 2023[205] Net Loss and Financial Position - The company reported a net loss of $14.1 million for Q3 2024, compared to a net loss of $14.9 million in Q3 2023, and a net loss of $43.2 million for the nine months ended September 30, 2024, compared to $47.0 million for the same period in 2023[130] - The company anticipates continued net losses for the next several years and expects to require substantial additional funding, which may include future equity and debt financings[131] - The company recorded a net loss of $43.2 million for the nine months ended September 30, 2024, compared to a net loss of $47.0 million for the same period in 2023[186][187] Cash and Liquidity - As of September 30, 2024, the company had an accumulated deficit of $454.4 million and cash, cash equivalents, and marketable securities totaling $107.8 million[130] - The company had cash, cash equivalents, and marketable securities totaling $107.8 million as of September 30, 2024, which is expected to fund operating expenses for at least the next 12 months[195] - The company reported a net cash used in operating activities of $24.8 million for the nine months ended September 30, 2024, compared to $29.2 million for the same period in 2023, reflecting a decrease of approximately 15%[186][187] - Cash provided by investing activities was $3.4 million for the nine months ended September 30, 2024, compared to $0.7 million for the same period in 2023, indicating a significant increase in cash flow from investments[188][189] Expenses - Research and development expenses decreased by $0.5 million, or 11.3%, to $3.7 million for the three months ended September 30, 2024[161] - Selling, general and administrative expenses increased by $1.4 million, or 5.9%, to $25.4 million for the three months ended September 30, 2024[162] - Research and development expenses for the nine months ended September 30, 2024, decreased by $0.6 million, or 4.3%, to $13.6 million[169] - Selling, general and administrative expenses increased by $4.9 million, or 7.0%, to $75.1 million for the nine months ended September 30, 2024[170] Debt and Financing - Outstanding debt under the CIBC Agreement was $36.9 million with an annual effective interest rate of 9.5% as of September 30, 2024[204] - Interest expense on the CIBC Loan was $0.9 million for both the three months ended September 30, 2024, and September 30, 2023, while it totaled $2.7 million and $2.3 million for the nine months ended September 30, 2024, and September 30, 2023, respectively[182] - The company extended the interest-only period of the CIBC Loan from 24 months to 36 months in May 2024, with principal repayment now scheduled to begin in November 2025[179] - The company drew $20.0 million from the Amended Tranche B of the CIBC Loan in February 2023, which has the same interest rate and repayment terms as Tranche A[178] Research and Development - The company has invested heavily in research and development, focusing on continuous improvements to its solutions and clinical studies to support regulatory submissions[131] - The AeriSeal System is currently in a global clinical trial called CONVERT II to support a PMA application, aiming to treat severe emphysema patients not eligible for Zephyr Valve treatment[125] Market and Operational Insights - Approximately 96% of revenue for the nine months ended September 30, 2024, was generated in markets where the company sells directly[126] - The company is expanding its commercial operations in the U.S. and internationally, with a focus on increasing awareness and adoption of its solutions among pulmonologists[126] - The Zephyr Valve treatment has received positive coverage policies from major commercial payors, including Aetna and Humana, and Medicare covers the solution when medically necessary[137] Currency and Inflation Impact - A 10% change in foreign currency exchange rates would have impacted revenues by approximately $1.9 million and operating expenses by $1.4 million for the nine months ended September 30, 2024, resulting in a net impact of $0.5 million on net loss[205] - Inflation has increased costs related to transportation, wages, and other expenses, although it has not materially impacted the financial position to date[206] - A 10% change in foreign currency exchange rates would have impacted revenues by approximately $1.7 million and operating expenses by $1.4 million for the nine months ended September 30, 2023, resulting in a net impact of $0.3 million on net loss[205]

Financial Data and Key Metrics Changes - Total worldwide revenue for Q3 2024 was $20.4 million, a 15% increase year-over-year, with U.S. revenue at $13.8 million (17% growth) and international revenue at $6.6 million (12% growth) [8][31][32] - Gross margin for Q3 2024 remained at 74%, consistent with the prior year, reflecting improved capacity utilization [32] - Net loss for Q3 2024 was $14.1 million, or a loss of $0.36 per share, compared to a net loss of $14.9 million, or a loss of $0.39 per share in the same period last year [35] - Adjusted EBITDA loss improved to $8.1 million from $9 million in Q3 2023, marking a 10% year-over-year improvement [36] Business Line Data and Key Metrics Changes - The company added 15 new accounts in the U.S. in Q3, ending with 280 active accounts, which are defined as centers that placed a revenue-generating order in the quarter [14] - The LungTraX Platform is in pilot release, aimed at streamlining workflows and identifying patients eligible for Zephyr Valves, although it is not yet generating direct revenue [16][19] Market Data and Key Metrics Changes - International revenue growth was driven by recurring orders from a new distributor in China, contributing to a 12% year-over-year increase despite seasonal dynamics [21] - The company is optimistic about the Japanese market, expecting material revenue contributions by 2026, with ongoing post-market surveillance studies showing positive reception [23] Company Strategy and Development Direction - The commercial strategy is built on three pillars: training physicians, automating patient workflows, and building awareness of Zephyr Valves among COPD physicians and patients [11][20] - The company is focused on expanding its global footprint and increasing the number of patients treated with Zephyr Valves through the AeriSeal clinical development program [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the previously communicated revenue guidance of $81 million to $84 million for the full year 2024, representing approximately 20% growth at the midpoint [10][38] - The company is optimistic about the demand for its solutions and the potential for significant and sustained growth, particularly in underserved patient populations [12][13] Other Important Information - The company ended Q3 2024 with $107.8 million in cash, cash equivalents, and marketable securities, a decrease of $6.8 million from the previous quarter [37] - The company is executing a cost optimization program, with total operating expenses for Q3 2024 at $29.2 million, a 3% increase year-over-year [33] Q&A Session Summary Question: Guidance clarification - Management reiterated revenue guidance for the year, citing overperformance in Q1 and significant seasonality in Q3 as reasons for not adjusting guidance [44][45] Question: OpEx adjustments - Management explained that the reduction in OpEx guidance is primarily due to lower non-revenue generating spend and stock-based compensation expenses [49][50] Question: OUS market outlook - Management expressed optimism about the OUS market, particularly in China and Europe, and noted that growth is expected to continue [52][53] Question: 2025 expectations - Management refrained from providing specific guidance for 2025 but indicated that early signs of momentum from strategic initiatives are promising [58][59] Question: Economic benefits for C-suite - Management highlighted the importance of addressing the underserved patient population and the economic value proposition of the Zephyr treatment in discussions with C-suite executives [65][66]

Pulmonx Corporation (LUNG) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.43. This compares to loss of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 16.28%. A quarter ago, it was expected that this company would post a loss of $0.41 per share when it actually produced a loss of $0.39, delivering a surprise of 4.88%. Over the last four quarters, the company has sur ...

Core Insights - Pulmonx Corporation presented clinical data demonstrating the safety and effectiveness of the AeriSeal® System, with 77.6% of patients converting from collateral ventilation positive (CV+) to collateral ventilation negative (CV-) [1][3] - The 5-year follow-up data from the LIBERATE study showed that patients treated with Zephyr® Valves experienced durable improvements in lung function and quality of life [1][5] AeriSeal CONVERT Trial - The CONVERT trial included 101 patients with severe emphysema and collateral ventilation, showing that 77.6% successfully converted to CV- after treatment with the AeriSeal System [3][8] - Post-conversion, patients treated with Zephyr Valves exhibited an improvement in lung function of 80 mL or 10.2% as measured by Forced Expiratory Volume in 1 second (FEV1) [3] - Quality of life improved by 6.3 points on the St. George's Respiratory Questionnaire, and a mean treated lobe volume reduction (TLVR) of over one liter was observed at 45 days [3] LIBERATE Study 5-Year Follow-Up - The 5-year follow-up data indicated annual improvements in FEV1 ranging from 109 mL in Year 1 to 79 mL in Year 5, demonstrating the long-term benefits of Zephyr Valves [5][6] - The study reported a 38% mortality rate over the 5-year period, which is lower than the 49% mortality in historical medically managed control patients [6] Future Developments - Pulmonx is advancing the CONVERT II trial, expected to enroll approximately 200 patients, to further evaluate the AeriSeal System's effectiveness in limiting collateral ventilation [4][10] - The AeriSeal System has received a "Breakthrough Device" designation from the FDA, although it is not yet approved for commercial sale in the U.S. [9] Zephyr Valves Overview - Zephyr Valves are a minimally invasive treatment option for severe COPD/emphysema, designed to improve lung function and quality of life by blocking off diseased lung portions [11][12] - The valves are included in global treatment guidelines and have been used in over 40,000 patients worldwide [11][13]

Core Insights - Amgen presented new data on IMDELLTRA (tarlatamab-dlle), a bispecific T-cell engager targeting DLL3, at the 2024 World Conference on Lung Cancer, highlighting its potential in treating extensive-stage small cell lung cancer (ES-SCLC) [1][2][3] DeLLphi-303 Study Results - The Phase 1b DeLLphi-303 study showed that IMDELLTRA combined with PD-L1 inhibitors as first-line maintenance therapy in ES-SCLC had a manageable safety profile and positive survival outcomes [3][4] - IMDELLTRA plus durvalumab achieved a disease control rate (DCR) of 62.5% and a 9-month overall survival (OS) of 91.8% [3][4] - IMDELLTRA plus atezolizumab also demonstrated a DCR of 62.5% with a median duration of disease control of 7.2 months and a 9-month OS of 86.7% [3][4] DeLLphi-301 Study Results - Long-term follow-up data from the Phase 2 DeLLphi-301 study indicated an objective response rate (ORR) of 40% among 100 patients treated with IMDELLTRA [5][6] - The median OS for this group was reported at 15.2 months, with stable disease observed in 30% of patients [5][6] IMDELLTRA Overview - IMDELLTRA received accelerated approval from the FDA for patients with ES-SCLC who progressed after platinum-based chemotherapy [3][11] - The drug targets DLL3, which is expressed in approximately 85-96% of SCLC patients, making it a promising therapeutic target [10][11] Future Studies - Ongoing trials, including the Phase 3 DeLLphi-305 trial, will further evaluate the efficacy of IMDELLTRA in combination with PD-L1 inhibitors [3][4][6] - The DeLLphi-303 study is designed to assess the safety and efficacy of IMDELLTRA in combination with standard-of-care therapies in first-line ES-SCLC [6][8]

REDWOOD CITY, Calif., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Pulmonx Corporation (Nasdaq: LUNG) ("Pulmonx") a global leader in minimally invasive treatments for severe lung disease, today announced the company will be participating in investor meetings at the Lake Street 8th Annual Best Ideas Growth Conference in New York on Thursday, September 14, 2024. About Pulmonx Corporation Pulmonx Corporation (Nasdaq: LUNG) is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD ...

Company Overview - Pulmonx Corporation is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD) [2] - The company's key products include the Zephyr® Endobronchial Valve, Chartis® Pulmonary Assessment System, and StratX® Lung Analysis Platform, which are designed to assess and treat severe emphysema/COPD patients [2] - The Zephyr Valve has received FDA pre-market approval and is commercially available in over 25 countries, widely recognized as a standard of care treatment option for severe emphysema [2] Upcoming Event - Pulmonx will participate in a fireside chat at the 2024 Wells Fargo Healthcare Conference in Boston on September 5, 2024, at 1:30 PM PT / 4:30 PM ET [1] - A live and archived webcast of the presentation will be available on the "Investors" section of the Pulmonx website [1]

Pulmonx Corporation (LUNG) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.41. This compares to loss of $0.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 4.88%. A quarter ago, it was expected that this company would post a loss of $0.43 per share when it actually produced a loss of $0.36, delivering a surprise of 16.28%. Over the last four quarters, the company has sur ...