WARRINGTON, Pa. - Windtree Therapeutics, Inc. (OTCID:WINT) announced Monday it may receive license agreement payments from its partner for renewed development work on the company's acute pulmonary treatments for premature infants with respiratory distress syndrome (RDS). The micro-cap company, with a market capitalization of just $2.19 million and currently trading at $0.07 per share, has seen its stock price decline 99.73% over the past year.
The company's global license agreement, amended and restated in August 2022, includes potential milestone payments up to $78.9 million plus low double-digit royalties. The licensed treatments include SURFAXIN, lyophilized lucinactant, and AEROSURF, a drug-device combination.
RDS occurs in preterm infants when their lungs lack fully developed natural surfactant, potentially requiring surfactant therapy to sustain life. The risk of developing RDS increases with earlier gestational age.
"Windtree has been informed by its licensing partner about its acute pulmonary treatment development plan and we are supportive for these activities," said Jed Latkin, Chief Executive Officer of Windtree.
Under the agreement, Windtree's licensing partner is responsible for all development and commercialization costs. The company indicated that potential milestone and royalty payments would be non-dilutive and could contribute to funding its current corporate strategy.
SURFAXIN, a synthetic drug previously approved by the FDA in 2012 to prevent RDS in high-risk premature infants, is no longer available in the United States after being discontinued by the manufacturer.
The information in this article is based on a company press release statement.
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