Windtree Therapeutics, Inc. (WINT) stock prices were down by 6.56% as of the market closing on July 16th2021, bringing the price per share down to USD$1.71 at the end of the trading day. Premarket fluctuations saw the stock rise by 6.43%, bringing it up to USD$1.82.
Istaroxime Study
May 2021 saw the company reiterate the expansion of the counties and sites participating in its Phase 2 global clinical study. The study is for istaroxime, which is being evaluated as a viable treatment option for Early Cardiogenic Shock in patients having suffered from severe acute heart failure. A severe form of heart failure, cardiogenic shock is marked by critically low blood pressure. The development of the treatment is founded in observations from the acute heart failure program and will serve to assess istaroxime’s ability to improve blood pressure. The study is expected to be completed by the second half of 2021.
Istaroxime Patent Protection
The company has also been seeking additional expedited patent protection for istaroxime, their lead asset. To facilitate this, WINT filed a Track One prioritized patent application with the U.S Patent and Trademark Office, with the associated patent being derived from an application previously filed under the Patent Cooperation Treaty. As per the Track One program, the new patent for istaroxime is forecasted to receive a review and final disposition according to an accelerated timeline. The priority status being granted, the company expects finalizations within a year, as compared to the typical three-year examination for non-prioritized examinations.
Solid Liquidity Position
The first quarter of 2021 saw WINT complete an equity financing program, which saw the company generate almost USD$30 million in gross proceeds, before the deduction of expenses related to the offering. Net proceeds from the offering came out to roughly USD$27.4 million, contributing to the company’s solid liquidity position as of March 31st, 2021, when WINT announced having cash and cash equivalents in the amount of USD$38.5 million.
Net Loss Reports
WINT reported a net loss of USD$9 million on 17.7 million weighted-average common shares outstanding as of the end of the first quarter of 2021, representing a net loss of USD$0.57 per basic share. The is comparable to the UD$6.5 million net loss reported for the prior-year period, which had 13.7 million weighted average common shares outstanding, representing a net loss of USD$0.48 per basic share.
Future Outlook for WINT
Armed with a comfortable liquidity position and strategic partnerships that aim to develop treatments through to commercialization and proliferation, WINT is poised to capitalize on the opportunities afforded to it. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
