Windtree Therapeutics, Inc. - WINT STOCK NEWS

Windtree Therapeutics (NASDAQ: WINT) has announced significant changes to its board of directors, effective August 13, 2024. The company has appointed Saundra Pelletier and Jed Latkin as new independent directors, bringing extensive experience in public company leadership and the biotech industry. Pelletier, currently serving as Interim Chair and CEO of Evofem Biosciences, offers over 25 years of executive leadership experience. Latkin brings nearly three decades of financial and biotech expertise, including roles at ProPhase Labs and Navidea Biopharmaceuticals.

These appointments coincide with the resignations of Daniel Geffken and Leslie Williams from the board. Additionally, Mark Strobeck has been named Lead Independent Director. The company views these changes as strategic, particularly with upcoming Phase 2b clinical trial results and potential Phase 3 entry for its cardiovascular asset, istaroxime.

Windtree Therapeutics (NASDAQ: WINT) has provided an update on the clinical development of istaroxime, a novel first-in-class therapy for acute heart failure and early cardiogenic shock. The company is nearing completion of enrollment for its SEISMiC Extension Phase 2b study in early cardiogenic shock patients, with topline data expected by the end of the quarter. The study focuses on dose optimization and SERCA2a effects for Phase 3 planning.

Windtree is also progressing a parallel study in more severe SCAI Stage C cardiogenic shock patients. Additionally, the company has entered a license agreement with Lee's Pharmaceutical for the development and commercialization of istaroxime in Greater China, potentially worth up to $138 million in milestones plus royalties.

Windtree Therapeutics (NASDAQ: WINT) has closed a $12.9 million private placement of Series C Convertible Preferred Stock and warrants. The transaction includes $3.4 million in new funding and $9.5 million in debt cancellation. Additionally, the company established a $35 million equity line of credit.

The private placement involved issuing 16,099 shares of Series C Preferred Stock and warrants to acquire up to 3,440,631 additional common shares. The warrants have an exercise price of $4.11 per share and will become exercisable after six months.

Windtree plans to use the proceeds for working capital and general corporate purposes. The company is also nearing completion of its Phase 2b clinical trial for istaroxime in cardiogenic shock, with topline data expected by the end of the current quarter.

Windtree Therapeutics, a biotechnology company, regained compliance with Nasdaq's minimum bid price requirement after facing non-compliance due to its common stock price falling below $1 for 30 consecutive trading days. The company took necessary steps to meet the bid price threshold, resulting in compliance with the regulations.

Windtree Therapeutics, a biotechnology company, announced a 1-for-18 reverse stock split to increase market price per share and comply with Nasdaq listing requirements. The split will reduce outstanding shares from 9.2 million to 0.5 million, with proportional adjustments to convertible notes, preferred stock, restricted stock units, and stock options.

Windtree Therapeutics, Inc. reported its financial results for Q4 and year-end 2023, highlighting key business updates. The company acquired a novel oncology preclinical aPKCi inhibitor platform, entered into partnerships for istaroxime development, and renewed collaborations. Financially, R&D expenses decreased, while operating losses and net losses improved compared to the previous year. Cash and cash equivalents stood at $4.3 million with current liabilities at $4.0 million as of December 31, 2023.

Windtree Therapeutics, Inc. announced the acquisition of assets from Varian Biopharmaceuticals, Inc., including a novel protein kinase inhibitor with potential in oncology and rare malignant diseases. The Company completed a $1.5 million convertible note bridge financing to support this acquisition. The acquired asset platform includes two formulations: VAR-101 (topical) and VAR-102 (oral). Windtree issued 5,500 shares of Series B Convertible Preferred Stock to Varian's creditor investors. The Company plans to pay up to $2.3 million in milestone payments for regulatory and clinical development achievements. The acquired protein kinase inhibitor targets the PKC family, specifically aPKCi, showing promising pre-clinical data in various tumor types. Windtree aims to leverage this acquisition to enhance its product candidate portfolio and advance its development programs.

Windtree Therapeutics, Inc. renews partnership with Chang Gung University in Taiwan to further research on SERCA2a, an important target for the Company’s cardiovascular portfolio. The collaboration includes istaroxime and next-generation compounds called SERCA2a activators. Windtree believes SERCA2a activation could represent an important advancement in heart failure treatment. Istaroxime is being studied in the Phase 2 SEISMiC Extension Study in early cardiogenic shock. Market research revealed a high demand for new drug innovation to treat cardiogenic shock patients, with an estimated worldwide total market value of $1.25 billion.

Windtree Therapeutics, Inc. has engaged Ladenburg Thalmann & Co. Inc. to evaluate strategic alternatives with the goal of maximizing stockholder value. The company has made significant progress in advancing its cardiovascular portfolio, including clinical trials in cardiogenic shock and a licensing deal with Lee’s Pharmaceuticals for the Greater China-Asia Pacific region. Windtree is actively exploring strategic alternatives such as acquisition, merger, further licensing, or company sale to maximize shareholder value.