Windtree Therapeutics, Inc. (NASDAQ: WINT), a biotechnology and medical device company focused on advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders, today reported financial results for the second quarter ended June 30, 2021 and provided key business updates.
For the second quarter ended June 30, 2021, the Company reported an operating loss of $45.4 million, which includes a non-cash expense of $37.8 million on impairment of our rostafuroxin intangible asset, compared to an operating loss of $7.9 million in the second quarter of 2020.
Research and development expenses were $4.2 million for the second quarter of 2021, compared to $4.5 million for the second quarter of 2020. The decrease in research and development expenses is primarily due to active pharmaceutical ingredient costs incurred in the second quarter of 2020.
General and administrative expenses for the second quarter of 2021 were $3.4 million, compared to $3.5 million for the second quarter of 2020.
The Company reported a net loss of $37.4 million ($1.42 per basic share) on 26.4 million weighted-average common shares outstanding for the quarter ended June 30, 2021, compared to a net loss of $9.6 million ($0.63 per basic share) on 15.1 million weighted average common shares outstanding for the comparable period in 2020.
“I am pleased with the progress we have made this quarter across multiple fronts. We are on track with istaroxime, our lead clinical product candidate, as we continue to enroll patients in our phase 2 global study for the treatment of early cardiogenic shock,” said CEO Craig Fraser.
WINT shares advanced 32 cents, or to $2.13.