Windtree Therapeutics reports Q2 results, progress with istaroxime for cardiogenic shock treatment

From GlobeNewswire: 2024-08-20 16:05:00

Windtree Therapeutics, Inc. reported financial results for the second quarter of 2024, marked by progress with their lead asset, istaroxime, in development for cardiogenic shock treatment. They expect topline data from the Phase 2 SEISMiC Extension study by end of third quarter. New directors appointed, including Saundra Pelletier and Jed Latkin.

The company closed financial transactions in July 2024, yielding gross proceeds of $13.9 million. They also secured an equity line of credit of up to $35 million for future needs. Windtree Therapeutics started enrollment in Phase 2 SCAI Stage C cardiogenic shock study. The company announced changes to its board of directors, appointing two new independent directors.

Despite an operating loss of $11.5 million in the second quarter of 2024, Windtree Therapeutics reported that research and development expenses were $9.9 million. They also reported net loss of $12.0 million for the same period. The company had cash and cash equivalents of $1.8 million and current liabilities of $8.8 million as of June 30, 2024.

Windtree Therapeutics, Inc. focuses on developing innovative therapies for critical conditions. Their portfolio includes istaroxime for acute heart failure, preclinical precision aPKCi inhibitors for oncology, and preclinical SERCA2a activators for heart failure. The company utilizes a licensing business model with partnership out-licenses in place.



Read more at GlobeNewswire:: Windtree Therapeutics Reports Second Quarter 2024 Financial