WARRINGTON, PA — Windtree Therapeutics, Inc. (NasdaqCM: WINT), a Pennsylvania-based biotech firm specializing in cardiovascular therapeutics, has announced that it is partnering with Ladenburg Thalmann & Co. Inc. The aim of this partnership is to evaluate strategic alternatives for the company to boost stockholder value.
Craig Fraser, Windtree’s President and CEO, expressed satisfaction with the advancements made in the company’s cardiovascular portfolio. The progress includes the clinical trials of istaroxime, a potential treatment for cardiogenic shock, and the recent licensing deal with Lee’s Pharmaceuticals for the Greater China-Asia Pacific region.
Fraser noted that these moves, along with significant reductions in cash burn and the agreement to eliminate the $15 million contingent liability with Deerfield, have resulted in a stronger balance sheet and a potentially expanded clinical development program. Despite these positive developments, Fraser acknowledged that the opportunity is currently under-recognized and undervalued in financial markets. However, this situation has sparked business development interest.
With the objective of maximizing shareholder value, Windtree has engaged Ladenburg Thalmann to help coordinate and assess these opportunities. The company is keen to explore various strategic alternatives, which could include an acquisition, merger, further licensing, company sale, or other strategic transactions.
While the company is actively executing the next steps in its cardiogenic shock program, it is also engaging in discussions about these strategic alternatives. It’s important to note that there can be no assurances that these discussions will result in an attractive transaction, and the outcome or timing remains uncertain. At this stage, no decisions have been made.
The engagement of Ladenburg as a strategic advisor is intended to support the board’s process and assessment of opportunities. This move demonstrates Windtree’s commitment to transparent communication with its shareholders and the public while working towards enhancing shareholder value.
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