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Windtree Therapeutics, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, reporting a net loss of $2.7 million and $4.6 million for the three and nine months ended September 30, 2024, respectively. The net loss for the nine months includes a $14.6 million gain on debt extinguishment.
Research and development expenses were $1.968 million for the quarter, a slight decrease from $2.110 million in the same quarter of the previous year. The decrease is attributed to lower clinical, medical, and regulatory operations expenses.
General and administrative expenses increased to $2.773 million from $2.580 million in the same quarter of the previous year, primarily due to increased professional fees.
The company reported a gain of $2.166 million from the change in fair value of common stock warrant liability.
Windtree had cash and cash equivalents of $2.3 million as of September 30, 2024, with current liabilities of $14.4 million, including an $8.6 million warrant liability.
The filing outlines the company's dependence on securing additional capital through public or private securities offerings, convertible debt financings, and/or strategic transactions to continue operations beyond January 2025.
The company continues to focus on the development of its lead product candidate, istaroxime, for cardiogenic shock and acute heart failure, with ongoing studies including the SEISMiC Extension and SEISMiC C studies.
The report details the company's strategic partnerships, including a licensing agreement with Lee’s Pharmaceutical (HK) Ltd. for the development and commercialization of istaroxime in Greater China.
The filing also mentions the company's recent asset acquisition from Varian Biopharmaceuticals, which includes a novel aPKCi inhibitor for potential oncology applications.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Windtree Therapeutics Inc. quarterly 10-Q report dated November 26, 2024. To report an error, please email earnings@qz.com.