WARRINGTON, PA — Windtree Therapeutics, Inc. (OTCID: WINT) announced that all ten proposals presented at its August 28 Special Stockholder Meeting were approved, clearing the way for a major strategic shift toward environmental services and revenue-generating partnerships.
The approvals provide the foundation for Windtree to launch and scale its Environmental Services division, with plans to acquire additional companies to accelerate growth. Management projects that the unit could reach profitability following a future acquisition. Two of the approved proposals were directly tied to this transaction, underscoring stockholder support for the pivot.
In addition, stockholders authorized an increase in the company’s share count from 125 million to 1 billion. Executives said the move expands financial flexibility and strengthens Windtree’s ability to pursue acquisitions and partnerships.
Chief Executive Officer Jed Latkin emphasized that the company will not pursue a cryptocurrency treasury strategy, instead focusing on building businesses with tangible revenue. “Our forward-looking plan to generate revenue and future profit with our assets is underway and we are making progress every day,” Latkin said.
Windtree continues to explore deals involving its cardiovascular and oncology biotech assets. The company spent $8.8 million on research and development for its cardiovascular program in 2024, but now intends to secure partnerships that would eliminate future R&D costs while generating near-term cash and longer-term royalties.
The strategic shift positions Windtree to diversify beyond biotech and capitalize on growth opportunities in environmental services, which the company views as a path to stronger financial performance and shareholder value.
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