Windtree Therapeutics Complies with Nasdaq Again - May 07, 2024

Windtree Therapeutics, Inc., a biotechnology company specializing in the development of innovative therapies for severe medical conditions, has announced a significant regulatory update. As of May 7, 2024, the company has received a Bid Price Compliance Letter from The Nasdaq Stock Market LLC, confirming that it has regained compliance with Nasdaq's minimum bid price requirement.

Earlier this year, on January 22, 2024, Windtree was informed by Nasdaq that it was not meeting the necessary criteria for listing due to its common stock not reaching the minimum closing bid price of $1.00 for 30 consecutive trading days. This shortfall put the company's continued listing on The Nasdaq Capital Market at risk. To rectify this, Windtree needed to sustain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days.

Windtree successfully met this requirement on May 3, 2024, marking the tenth consecutive trading day that its common stock closed above the $1.00 threshold. This achievement allowed the company to regain compliance with Nasdaq's Listing Rule 5550(a)(2), ensuring its continued presence on the exchange.

Windtree Therapeutics, Inc. is dedicated to advancing both early and late-stage therapies aimed at treating critical conditions and diseases. Among its portfolio of product candidates is istaroxime, a Phase II candidate known for its SERCA2a activating properties, which is being developed for the treatment of acute heart failure and associated cardiogenic shock. Additionally, the company is working on preclinical SERCA2a activators for heart failure and preclinical precision aPKCi inhibitors with potential applications in both rare and broad oncology. Windtree also engages in a licensing business model, with several partnership out-licenses currently in effect.

This recent compliance with Nasdaq requirements is a positive milestone for Windtree, reflecting its commitment to maintaining regulatory standards and progressing its clinical development programs.