Mon, Aug 19, 9:13 PM (148 days ago)
For the quarter ended June 30, 2024, Windtree Therapeutics reported a significant increase in operating expenses, primarily driven by a $7.5 million non-cash research and development expense linked to the Varian asset acquisition. Total operating expenses rose to $11.5 million from $6.8 million in the prior year. The net loss for the quarter was $12.0 million, compared to $6.6 million in the same period last year, reflecting challenges in funding and operational execution. The company has an accumulated deficit of $846.6 million as of June 30, 2024, and liquidity concerns persist, with cash and cash equivalents at $1.8 million against current liabilities of $8.8 million. Future operations hinge on securing additional capital through equity offerings and potential licensing agreements. Recent financing activities include a $12.9 million private placement and a $1 million second tranche, which are crucial for sustaining operations into October 2024. The ongoing clinical trials for istaroxime, aimed at treating cardiogenic shock, are contingent on available funding, highlighting the uncertainty in future operational capabilities.