According to a recent analysis, Windtree Therapeutics Inc (NASDAQ: WINT) expects to reach a high of $8 soon.
The stock improved by 36.36% and closed at $2.70 on June 4, 2021. Windtree targets treatments for respiratory diseases using innovative KL4 surfactant therapies, which are in the development stage. Its technology platform comprises peptide containing, synthetic, and innovative drug delivery technologies to administer aerosolized KL4 surfactant non-invasively.
Windtree uses AEROSURF, its proprietary technology platform, to develop innovative therapies to treat RDS (respiratory distress syndrome) in premature infants. It also markets approved products to treat respiratory diseases and disorders.
Raises $30 million through the public offering
Windtree raised a capital of $30 million by issuing 9.230 million common shares in March 2021. The company would advance its lead candidate – istaroxime using the proceeds.
The drug – istaroxime would improve cardiac functioning in ECS (early cardiogenic shock) and acute heart failure. Windtree would also part of the proceeds for general corporate purposes and working capital needs.
Windtree appointed Ladenburg Thalmann & Co. Inc. and Oppenheimer & Co. Inc as book-running managers for the deal.
Additional sites in phase 2 clinical study of istaroxime
Windtree added other locations and countries in its phase 2 worldwide clinical study of istaroxime. The company will evaluate the innovative formulation to cure Early Cardiogenic Shock in severe acute heart failure patients.
Critical low blood pressure leads to cardiogenic shock in people.
It is an advanced form of heart failure. The company expects to complete the clinical trial in H2 2021.
The company administered the first dose in a patient in a phase 2 clinical trial to study lucinactant in ALI (acute lung injury) in adults experiencing ARDS (acute respiratory distress syndrome) related to COVID-19. During the trial, it will evaluate physiological and safety profiles.
Windtree expects to receive a patent for its lead drug candidate – istaroxime, by submitting a priority patent application with the USPTO (U.S. Patent and Trademark Office).
Windtree reported a loss of $9 million in Q1 2021.