WARRINGTON, PA — Windtree Therapeutics, Inc. (NasdaqCM: WINT) has announced its first-quarter 2025 financial results and shared updates on its strategy to evolve into a revenue-generating company while advancing its cardiology and oncology pipeline.
“The first quarter of 2025 was marked with significant progress,” said Jed Latkin, Chief Executive Officer of Windtree. “We believe that our strategy to acquire revenue-generating, FDA-approved assets while developing our pipeline could transform Windtree into a commercial and development-stage company that generates revenue, helps patients, and appeals to shareholders.”
The company has ventured into real estate with a strategic transaction granting it the right to purchase a 436-unit multifamily residential property in Houston. Revenue from this effort, in collaboration with an existing partnership in China, is expected to begin in 2026, with the potential to cut pharmaceutical production costs by 65% for its partner biopharmaceutical firm.
Windtree also reported advancements in its cardiology pipeline, particularly the ongoing Phase 2 SCAI Stage C study of istaroxime for cardiogenic shock. Designed to treat a critical condition with high mortality, the trial will undergo an interim analysis of the first 20 subjects in the third quarter of 2025. Progress on the study could pave the way for Phase 3 trials of the drug, which aims to provide unique benefits over existing treatments.
Other key highlights included a new license and supply agreement with Evofem Biosciences for the sourcing of PHEXXI®, a hormone-free prescription contraceptive gel. The company also expanded its intellectual property estate, with newly granted patents in the U.S. and abroad for istaroxime and its oncology programs.
Financial results for Q1 2025 showed an operating loss of $4.1 million, down slightly from the $4.4 million recorded in the first quarter of 2024. Research and development expenses remained steady at $2.3 million, driven by work on the SEISMiC C trial. General and administrative expenses dropped to $1.8 million, reflecting decreases in legal expenses and stock-based compensation.
The company reported a net loss of $5.0 million for the quarter, compared to net income of $10.2 million in Q1 2024, which was influenced by a one-time gain. Cash and cash equivalents totaled $1.2 million as of March 31, 2025, with resources projected to sustain operations through May 2025.
Windtree’s multipronged approach focuses on combining revenue generation with the development of therapies for significant unmet needs. Its strategic focus on istaroxime and partnerships positions the company to potentially deliver meaningful innovations in cardiology and oncology.
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