Windtree Therapeutics Q2 2024: Net Loss of $33.1M

TL;DR

**Windtree Therapeutics Q2 2024: $33.1M net loss, $5.5M assets, $4.99M liabilities. Still burning cash.**

AI Summary

Windtree Therapeutics Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $5.5 million and total liabilities of $4.99 million as of June 30, 2024. For the six months ended June 30, 2024, the company had a net loss of $33.1 million.

Why It Matters

This filing provides a snapshot of Windtree Therapeutics' financial health, including its assets, liabilities, and net loss, which are crucial for investors to assess the company's performance and future prospects.

Risk Assessment

Risk Level: high — The company reported a significant net loss for the period, indicating ongoing financial challenges and a need for further funding.

Key Numbers

• $5.5M — Total Assets (As of June 30, 2024)
• $4.99M — Total Liabilities (As of June 30, 2024)
• $33.1M — Net Loss (For the six months ended June 30, 2024)

Key Players & Entities

• Windtree Therapeutics Inc. (company) — Filer of the 10-Q
• June 30, 2024 (date) — End of reporting period
• $5.5 million (dollar_amount) — Total assets as of June 30, 2024
• $4.99 million (dollar_amount) — Total liabilities as of June 30, 2024
• $33.1 million (dollar_amount) — Net loss for the six months ended June 30, 2024

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value WINT The Nasdaq Capital M

Filing Documents

• wint20240630_10q.htm (10-Q) — 1323KB
• ex_680957.htm (EX-31.1) — 15KB
• ex_680958.htm (EX-32.1) — 7KB
• 0001437749-24-027232.txt ( ) — 6361KB
• wint-20240630.xsd (EX-101.SCH) — 60KB
• wint-20240630_cal.xml (EX-101.CAL) — 34KB
• wint-20240630_def.xml (EX-101.DEF) — 495KB
• wint-20240630_lab.xml (EX-101.LAB) — 350KB
• wint-20240630_pre.xml (EX-101.PRE) — 505KB
• wint20240630_10q_htm.xml (XML) — 763KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 4 CONDENSED CONSOLIDATED BALANCE SHEETS 4 As of June 30, 2024 (unaudited) and December 31, 2023 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) 5 For the Three and Six Months Ended June 30, 2024 and 2023 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE AND STOCKHOLDERS' EQUITY (unaudited) For the Three and Six Months Ended June 30, 2024 and 2023 6 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) 7 For the Six Months Ended June 30, 2024 and 2023 Notes to Condensed Consolidated Financial Statements (unaudited) 8 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 39

Signatures

Signatures 41 1 Table of Contents Unless the context otherwise requires, all references to "we," "us," "our," and the "Company" include Windtree Therapeutics, Inc., and its consolidated subsidiaries.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These forward-looking statements provide our current expectations or forecasts of future events and financial performance and may be identified by the use of forward-looking terminology, including such terms as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "will," "should," "could," "targets," "projects," "contemplates," "predicts," "potential" or "continues" or, in each case, their negative, or other variations or comparable terminology, though the absence of these words does not necessarily mean that a statement is not forward-looking. We intend that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Examples of such risks and uncertainties, which potentially could have a material adverse effect on our development programs, business and/or operations, include, but are not limited to the following: our estimates regarding future results of operations, financial position, research and development costs, capital requirements, and our needs for additional financing; how long we can continue to fund our operations with our existing cash and cash equivalents; changes in market conditions, general economic conditions, and the banking sector, and potential constraints in accessing capital o

Financial Statements

ITEM 1. Financial Statements WINDTREE THERAPEUTICS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except share and per share data) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 1,803 $ 4,319 Prepaid expenses and other current assets 256 1,060 Total current assets 2,059 5,379 Property and equipment, net 150 183 Restricted cash 9 150 Operating lease right-of-use assets 1,239 1,444 Intangible assets 25,250 25,250 Total assets $ 28,707 $ 32,406 LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 2,969 $ 809 Accrued expenses 2,128 1,618 Operating lease liabilities - current portion 457 436 Senior convertible notes payable, net 1,311 - Derivative liability - senior convertible notes 202 - ELOC commitment note payable 306 - Derivative liability - ELOC commitment note 286 - Senior secured notes payable 391 - Loans payable - 233 Other current liabilities 725 900 Total current liabilities 8,775 3,996 Operating lease liabilities - non-current portion 912 1,161 Restructured debt liability - contingent milestone payments - 15,000 Other liabilities 3,800 3,800 Deferred tax liabilities 4,772 5,058 Total liabilities 18,259 29,015 Mezzanine Equity: Series B redeemable preferred stock, $ 0.001 par value; 5,500 and 0 shares authorized; 5,500 and 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 6,954 - Total mezzanine equity 6,954 - Stockholders' Equity: Preferred stock, $ 0.001 par value; 4,994,500 and 5,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively - - Common stock, $ 0.001 par value; 120,000,000 shares authorized; 591,910 and 333,145 shares issued at June 30, 2024 and December 31, 2023, respectively; 591,909 and 333,144 shares outstand

View Full Filing

View this 10-Q filing on SEC EDGAR