Warrington-based Windtree Therapeutics faces an uncertain future after being delisted from the NASDAQ stock exchange last week, writes John George for the Philadelphia Business Journal.
The company has issued a “going concern” notice, indicating it may have to cease operations.
Windtree has attempted to diversify its revenue stream in recent months, venturing into residential real estate, waste removal and cryptocurrency. However, it failed to maintain the required minimum stock price of $1 per share. The NASDAQ Capital Market removed the company on August 21.
Windtree, which is working on an experimental treatment for cardiogenic shock, lost almost all of its share value over six months, falling from $3.47.
The company has shifted its stock to the OTC Market, trading under its existing WINT symbol at 11 cents per share on Tuesday.
In its quarterly report on August 19, Windtree warned about its insufficient cash and cash equivalents.
“We believe that we have sufficient resources available to fund our business operations through December 2025,” said the company in the SEC filing. “We do not have sufficient cash and cash equivalents to support our operations for at least the 12 months. These conditions raise substantial doubt about our ability to continue as a going concern.”
Read more about Windtree Therapeutics’ financial challenges and what the future may hold for the Warrington-based biotech firm in the Philadelphia Business Journal.
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