Pulmonx

About Pulmonx

Pulmonx Corporation operates as a commercial-stage medical technology firm, providing a solution for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD). The company was founded in California in 1995 by Mike Connolly and Dr. Rodney Perkins. It reincorporated in Delaware in December 2013.

The company's core offering is a minimally invasive treatment system. This system includes the Zephyr Endobronchial Valve, the Chartis Pulmonary Assessment System, and the StratX Lung Analysis Platform. The Zephyr Valve is a pencil-eraser-sized implant placed in the airways via a nonsurgical bronchoscopic procedure to block diseased parts of the lung. This allows trapped air to escape, reducing hyperinflation and enabling healthier lung tissue to function more effectively, which helps patients breathe easier. The Chartis and StratX platforms are diagnostic tools used to assess patients and identify those most likely to benefit from the treatment.

Glen French, a serial entrepreneur in the interventional pulmonology space with co-founding credits at Asthmatx and Broncus Technologies, served as President and CEO from December 2014 to March 2024. His leadership was pivotal in navigating the company through significant growth and its initial public offering. In March 2024, Steven S. Williamson, a veteran of the medical device industry with previous leadership roles at Outset Medical, C.R. Bard, and Hologic, took over as President and CEO.

A significant milestone for Pulmonx was receiving Pre-Market Approval (PMA) from the U.S. Food and Drug Administration (FDA) for the Zephyr Valve in June 2018, which was granted under the FDA's Breakthrough Devices Program. This followed the CE Mark for the valve in 2003 and for the Chartis System in 2009. The company went public on October 1, 2020, trading on the Nasdaq under the ticker symbol "LUNG." The upsized IPO raised approximately $218.5 million.

Pulmonx generates revenue primarily through the direct sale of its products to hospitals and distributors. The company targets specialized respiratory disease treatment centers and has a direct sales force focused on pulmonology and interventional pulmonology departments. For the fiscal year 2023, the company reported total revenue of $75.4 million, and in 2024, it achieved a worldwide revenue of $83.8 million. Despite revenue growth, the company has reported net losses as it invests in commercial expansion and research and development.