WARRINGTON, PA — Windtree Therapeutics, Inc. (NasdaqCM: WINT) released its financial results for the fiscal year ending December 31, 2024, while highlighting progress in clinical development, partnerships, and new strategic initiatives.
CEO Jed Latkin noted significant advancements, including positive results from the Phase 2 SEISMiC Extension Study of istaroxime for early cardiogenic shock and the initiation of a global Phase 2 trial targeting patients with more severe SCAI Stage C cardiogenic shock. Interim data for this study is expected in Q3 2025. Additionally, the company announced a partnership with Lee’s Pharmaceutical for development efforts in Greater China and a strategy shift to become a revenue-generating biotech through acquisitions of FDA-approved products.
Financially, research and development expenses nearly doubled year-over-year, reaching $16.3 million, driven by expansion of clinical activities and development costs. General and administrative expenses decreased to $8.7 million, reflecting headcount reductions and lower insurance costs. The company’s net loss narrowed to $1.8 million, a significant improvement from the $20.3 million loss in 2023. This includes gains from debt extinguishment and changes in the fair value of warrant liabilities.
Windtree continues to bolster its intellectual property portfolio, securing domestic and international patents for istaroxime and related formulations, and expanding protection for its oncology pipeline. The company also regained compliance with Nasdaq’s minimum bid price requirement, ensuring continued listing.
“Our new corporate strategy aims to transform Windtree into a revenue-generating biotech while delivering near-term value to shareholders,” added Latkin, emphasizing the focus on acquiring small biotech firms to maximize the potential of FDA-approved products.
With cash and cash equivalents of $1.8 million as of December 31, 2024, the company believes it has sufficient resources to fund operations through April 2025. Full details of Windtree’s finances and strategy will be available in its upcoming Annual Report on Form 10-K.
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