Windtree Therapeutics Inc. (NASDAQ: WINT) stock gained by 42.17% in the current market trading session. Windtree Therapeutics is developing a number of late-stage therapies to treat patients with acute cardiovascular and pulmonary diseases.
Financial Highlights
On May 13, 2021, WINT released its financial results for the first quarter 2021. Given below is the summary:
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- WINT recorded an operating loss of $9.1 million in the first quarter of 2021, relative to an operating loss of $6.7 million in the first quarter of 2020.
- In the first quarter of 2021, research & development costs were $4.4 million, up from $3.5 million in the first quarter of 2020. The rise in research and development expenditures is mostly due to expenditure associated with istaroxime’s clinical development.
- The first quarter of 2021 saw $4.7 million in general and administrative expenditure, up from $3.2 million in the first quarter of 2020.
- For the first quarter ended March 31, 2021, WINT had a net loss of $9.0 million on 17.7 million weighted-average common shares outstanding, relative to a total loss of $6.5 million on 13.7 million weighted-average common shares outstanding for the same period in 2020.
- WINT has $38.5 million in cash and cash equivalents as of March 31, 2021.
Craig Fraser, President, and CEO of Windtree commented:
With data readouts expected in both Phase 2 studies, WINT sees many possible value-creating catalysts as they look to the balance of the year. Furthermore, they are actively involved in WINT’s growth, and the degree of interest is encouraging. Importantly, their financial sheet now has the runway to assist fund these ongoing and future development operations, due to the successful execution of fundraising this quarter. They’re concentrating on execution and a year filled with significant accomplishments.