Windtree Therapeutics announces board member resignation

WARRINGTON, PA - Windtree Therapeutics Inc. (NASDAQ:WINT), a biotechnology company specializing in biological products, has announced the immediate resignation of Mr. Craig Fraser from its Board of Directors on April 17, 2025. According to the company’s recent SEC filing, Mr. Fraser’s departure from the board was not related to any disagreements with the company’s management, operations, policies, or practices. The announcement comes as the company faces significant challenges, with InvestingPro data showing the stock has declined over 97% in the past six months, trading at $1.14.

The resignation has led to the reduction of the board’s size from five to four members. The company has not disclosed any further details regarding the reasons for Mr. Fraser’s resignation or any plans to replace him on the board. Mr. Fraser was not serving on any of the board’s committees at the time of his resignation. InvestingPro analysis reveals the company is currently dealing with financial challenges, including a concerning current ratio of 0.45, indicating short-term obligations exceed liquid assets. Discover more insights with an InvestingPro subscription, which offers 16 additional ProTips for WINT.

Windtree Therapeutics, formerly known as Discovery (NASDAQ:WBD) Laboratories Inc., is headquartered in Warrington, Pennsylvania, and operates under the organization name 03 Life Sciences. The company’s focus is on the development of biological products, although no specific products or developments were mentioned in relation to Mr. Fraser’s resignation.

The information regarding the resignation and the current state of the board was made public through a Form 8-K filing with the Securities and Exchange Commission on April 18, 2025, and reflects the company’s status as of the date of the report. The filing provides a formal record of the change in the company’s executive structure.

As of now, Windtree Therapeutics has not provided any additional comments on the matter beyond the factual statements included in the SEC filing. The company’s business address remains at 2600 Kelly Road, Suite 100, Warrington, Pennsylvania, with a business phone number of (215) 488-9300. This news is based solely on the press release statement filed with the SEC and does not include any speculative information.

In other recent news, Windtree Therapeutics has issued Senior Secured Promissory Notes worth $312,500, with gross proceeds of $250,000, to secure additional funding. The notes, which carry a 10% annual interest rate, are convertible into common shares and include protective measures for investors. Windtree Therapeutics has also regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price above $1.00 for at least ten consecutive trading days. This compliance ensures the company’s continued listing on the stock market, with a mandatory panel monitor in place until March 2026. Additionally, Windtree has received a Notice of Allowance for a patent on its heart failure treatment, istaroxime, marking a significant step in its U.S. intellectual property strategy. The company has reported positive results from its Phase 2b SEISMiC study of istaroxime, showing improvements in cardiac function and blood pressure without adverse effects on renal function. Furthermore, Windtree has announced a 1-for-50 reverse stock split to elevate its per-share trading price and comply with Nasdaq’s requirements. These developments reflect Windtree’s ongoing efforts to advance its clinical programs and secure its financial position.

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