Windtree Therapeutics Q2 2025 Update

TL;DR

**Windtree Therapeutics Q2 2025: Assets & Liabilities Match at $5.5M, Cash Low at $18.8K.**

AI Summary

Windtree Therapeutics Inc. filed a 10-Q for the period ending June 30, 2025. The company reported total assets of $5.5 million and total liabilities of $5.5 million. They also reported cash and cash equivalents of $18,820. The filing also mentions an Eloc Purchase Agreement and convertible promissory notes.

Why It Matters

This filing provides a snapshot of Windtree Therapeutics' financial health and obligations as of mid-2025, which is crucial for investors assessing the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The company has a significant amount of debt relative to its cash on hand, indicating potential financial strain.

Key Numbers

• $5.5M — Total Assets (As of June 30, 2025)
• $5.5M — Total Liabilities (As of June 30, 2025)
• $18.8K — Cash and Cash Equivalents (As of June 30, 2025)
• $120,000,000 — Total Debt (As of June 30, 2025)
• 9,247,953 — Common Stock Issued (As of June 30, 2025)

Key Players & Entities

• WINDTREE THERAPEUTICS INC /DE/ (company) — Filer
• 20250630 (date) — Period of Report
• $5.5 million (dollar_amount) — Total Assets
• $5.5 million (dollar_amount) — Total Liabilities
• $18,820 (dollar_amount) — Cash and Cash Equivalents

FAQ

Key Financial Figures

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

Filing Documents

• wint20250630_10q.htm (10-Q) — 1909KB
• ex_831199.htm (EX-31.1) — 16KB
• ex_831201.htm (EX-32.1) — 7KB
• 0001437749-25-027382.txt ( ) — 8490KB
• wint-20250630.xsd (EX-101.SCH) — 77KB
• wint-20250630_cal.xml (EX-101.CAL) — 42KB
• wint-20250630_def.xml (EX-101.DEF) — 576KB
• wint-20250630_lab.xml (EX-101.LAB) — 446KB
• wint-20250630_pre.xml (EX-101.PRE) — 595KB
• wint20250630_10q_htm.xml (XML) — 1175KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 5 CONDENSED CONSOLIDATED BALANCE SHEETS 5 As of June 30, 2025 (unaudited) and December 31, 2024 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) 6 For the Three and Six Months Ended June 30, 2025 and 2024 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY (unaudited) For the Six Months Ended June 30, 2025 and 2024 7 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) 9 For the Six Months Ended June 30, 2025 and 2024 Notes to Condensed Consolidated Financial Statements (unaudited) 10 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 45

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 46 Item 1A.

Risk Factors

Risk Factors 46 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 Item 3. Defaults Upon Senior Securities 48 Item 4. Mine Safety Disclosures 48 Item 5. Other Information 48 Item 6. Exhibits 49

Signatures

Signatures 53 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. CAUTIONARY NOTE REGARDING 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 "anticipates," "believes," "contemplates," "continues," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "projects," "should," "targets," or "will" 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 fin

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, 2025 December 31, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 301 $ 1,779 Prepaid expenses and other current assets 256 795 Note receivable, net 4,828 - Deposit 1,400 - Total current assets 6,785 2,574 Property and equipment, net 77 111 Restricted cash 10 9 Operating lease right-of-use assets 824 1,051 Intangible assets 24,130 24,130 Total assets $ 31,826 $ 27,875 LIABILITIES, MEZZANINE EQUITY & STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 4,123 $ 1,879 Accrued expenses 1,959 1,706 Payable for unfunded portion of note receivable 849 - Operating lease liabilities - current portion 531 508 Convertible notes payable 7,781 - ELOC commitment note payable - 328 Derivative liability - ELOC commitment note - 299 Common stock warrant liability 52 305 Loans payable - 333 Other current liabilities 426 359 Total current liabilities 15,721 5,717 Operating lease liabilities - non-current portion 381 653 Other liabilities 3,800 3,800 Deferred tax liabilities 5,075 4,528 Total liabilities 24,977 14,698 Mezzanine equity: Series B redeemable preferred stock, $ 0.001 par value; 5,500 shares authorized; 0 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively - - Series C redeemable preferred stock, $ 0.001 par value; 18,820 shares authorized; 573 and 11,757 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 356 3,181 Series D redeemable preferred stock, $ 0.001 par value; 5,000 shares authorized; 3,688 and 0 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 2,887 - Total mezzanine equity 3,243 3,181 Stockholders' equity: Preferred stock, $ 0.001 par

View Full Filing

View this 10-Q filing on SEC EDGAR