Windtree Therapeutics, Inc, a US-based biotechnology and medical device company focused on developing drug product candidates and medical device technologies to address acute cardiovascular and pulmonary diseases, announced the closing of its previously announced public offering of 2,758,620 units at a price to the public of $7.25 per unit and the exercise in full of the underwriters’ option to purchase 413,793 additional shares of common stock and 413,793 additional warrants.
Windtree received net proceeds of approximately $20.2 million after deducting the underwriting discounts and commissions and estimated offering expenses. In connection with the offering, the Company’s common stock began trading on The Nasdaq Capital Market on May 20, 2020, under the symbol “WINT”.
“Completing this public offering and concurrently up-listing to The Nasdaq Capital Market have been key near-term objectives of ours and demonstrate the progress we have made as a company. The proceeds from this public offering will provide us with capital needed to support advancement of our lead clinical programs,” said Craig Fraser, President and Chief Executive Officer. “We believe the company will also benefit from increased market visibility as a result of the listing on Nasdaq as we move forward with our multiple clinical development and business development activities.”
Windtree says that it is developing important acute care innovations in science and engineering and delivering them responsibly with unrelenting attention to quality and access to care. The company has four clinical and multiple pre-clinical programs in respiratory, cardiovascular and oncology disease states.
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