Windtree Therapeutics Reports Key Financial Results

Windtree Therapeutics Reports Financial Results and Key Updates

Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a biotechnology company focused on advancing early and late-stage innovative therapies for critical conditions, announced financial results for the second quarter and provided key business updates.

Progress on Istaroxime Development

“The second quarter was marked with significant progress with our lead asset, istaroxime in development for the treatment of cardiogenic shock. We expect the istaroxime Phase 2 SEISMiC Extension study to complete enrollment soon, and we plan to report topline data by the end of the third quarter. We are also supporting our regional partner in their planned istaroxime Phase 3 program in acute heart failure,” said Craig Fraser, Chairman and CEO.

Mr. Fraser added, “Looking ahead, besides the important data readout on the istaroxime SEISMiC Extension Study, we plan to accelerate enrollments in the istaroxime SCAI Stage C cardiogenic shock study and provide guidance on our strategy regarding our oncology preclinical aPKCi inhibitor assets.”

Key Business Updates

The following updates highlight the Company's recent achievements:

• Completion of enrollment and topline data reporting expected by the end of the third quarter for the Phase 2 SEISMiC Extension Study.
• Enrollment has begun for the Phase 2 SCAI Stage C cardiogenic shock study, with global study site expansions underway.
• Completion of two financial transactions generating approximately $13.9 million in gross proceeds.
• Establishing a Common Stock Purchase Agreement allowing for the potential sale of newly issued shares.
• The company strengthened its board with the addition of independent directors with significant experience.

Financial Results Overview

For the quarter, the Company reported an operating loss of $11.5 million, up from a loss of $6.8 million in the same quarter last year. This loss includes $7.5 million from non-cash R&D expenses related to the Varian asset acquisition. Research and development expenses increased significantly, attributed to costs associated with the ongoing istaroxime trials.

General and administrative expenses decreased to $1.6 million from $2.4 million last year, influenced by lower professional fees and stock-based compensation expenses.

Net Loss and Cash Position

The net loss for the quarter was $12.0 million, with a cash position of $1.8 million as of the reporting date. The Company has raised relevant capital to support operations, but raises considerable doubt about continuing as a going concern without further funding.

About Windtree Therapeutics, Inc.

Windtree Therapeutics, Inc. is dedicated to developing innovative therapies for critical conditions. Its pipeline includes istaroxime, a Phase 2 candidate for acute heart failure and associated cardiogenic shock, among other preclinical assets aimed at oncology applications.

Frequently Asked Questions

1. What are the key highlights of Windtree Therapeutics' recent performance?

The company's recent performance includes significant progress in its clinical studies, securing funding, and strengthening its board with experienced directors.

2. What is istaroxime?

Istaroxime is Windtree's lead therapeutic candidate under development for treating cardiogenic shock and acute heart failure.

3. What financial challenges does Windtree face?

Windtree has reported operating losses and has raised concerns about its ability to cover operational expenses without additional funding.

4. How is Windtree managing its clinical trials?

Windtree is actively managing its clinical trials, including the acceleration of patient enrollments for its cardiac studies.

5. Who are the new independent directors appointed to Windtree's board?

Windtree has appointed Saundra Pelletier and Jed Latkin as independent directors to enhance board expertise and governance.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.