Windtree Therapeutics, Inc. (NASDAQ:WINT) shares fell in Monday trading. Windtree Therapeutics shares jumped 36% on Friday after Oppenheimer initiated coverage on the stock with an Outperform rating and an $8 price target.
Windtree, which focuses on acute cardiovascular and pulmonary disorders, said on May 13 that “as we look to the rest of the year, we see several potential value-creating milestones with data readouts anticipated” in two Phase 2 trials. It said it was “actively engaged on the business development front, and are encouraged by the level of interest.”
The release further said that, during the quarter, it “expanded the participating countries and sites in the Company’s Phase 2 global clinical study of istaroxime for the treatment of Early Cardiogenic Shock in severe acute heart failure patients.
“Cardiogenic shock is a severe form of heart failure marked by critically low blood pressure.”
Windtree also completed an equity financing raising approximately $30.0 million in gross proceeds during the first quarter of 2021, before deducting underwriting discounts and commissions and other estimated offering expenses. Net proceeds from the offering were approximately $27.4 million.
Lastly, the company extended the scientific collaboration with the University of Milan-Bicocca for further characterization and development of the Company’s oral SERCA2a compounds for the potential treatment of chronic and acute human heart failure.
Shares in WINT collapsed 27 cents, or 10%, to $2.43.