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Pulmatrix shareholders approve reverse stock split

Pulmatrix Inc. said its shareholders approved a proposal to implement a reverse split of the company's common shares.

The proposal sought the implementation of the split before the company's 2019 annual shareholders' meeting at a ratio in the range of 1-for-4 to 1-for-10.

The Lexington, Mass.-based biopharmaceutical company added that there was no immediate plan to implement the reverse stock split.