Windtree Therapeutics Reports Second Quarter 2017 Financial Results
WARRINGTON, Pa., Aug. 21, 2017 /PRNewswire/ -- Windtree Therapeutics, Inc. (OTCQB: WINT), a biotechnology company focused on developing aerosolized KL4 surfactant therapies for respiratory diseases, today reported financial results for the second quarter ended June 30, 2017.
"The second quarter of 2017 was marked with continued progress in the AEROSURF® development program and for the Company. We completed enrollment in the AEROSURF phase 2b clinical trial and released top-line results in late June. While the top-line results did not meet the specified endpoint, which we believe is due in large part to unexpected treatment interruptions, we are very encouraged that, when excluding patients with treatment interruptions, the 50 minute dose exhibited a positive treatment effect with a safety profile comparable to that of control. We look forward to finalizing a regulatory and clinical plan to incorporate our next generation aerosol delivery system (ADS) into our program, as we pursue a path potentially to advance AEROSURF into phase 3 development," commented Craig Fraser, President and Chief Executive Officer. "In addition, in June we announced an exclusive license agreement with Lee's Pharmaceutical (HK) Limited ("Lee's Pharm") for the development and commercialization of our KL4 surfactant products in select Asian markets. And finally, we recently announced our efforts to undertake a financial restructuring program to provide short-term financing and improve the Company's capital structure for the long term. If we are successful, we believe our Company will be better positioned to achieve long-term financial sustainment and to realize the full potential of AEROSURF and our KL4 surfactant and aerosol delivery platforms."
"The second quarter of 2017 was marked with continued progress in the AEROSURF® development program and for the Company. We completed enrollment in the AEROSURF phase 2b clinical trial and released top-line results in late June. While the top-line results did not meet the specified endpoint, which we believe is due in large part to unexpected treatment interruptions, we are very encouraged that, when excluding patients with treatment interruptions, the 50 minute dose exhibited a positive treatment effect with a safety profile comparable to that of control. We look forward to finalizing a regulatory and clinical plan to incorporate our next generation aerosol delivery system (ADS) into our program, as we pursue a path potentially to advance AEROSURF into phase 3 development," commented Craig Fraser, President and Chief Executive Officer. "In addition, in June we announced an exclusive license agreement with Lee's Pharmaceutical (HK) Limited ("Lee's Pharm") for the development and commercialization of our KL4 surfactant products in select Asian markets. And finally, we recently announced our efforts to undertake a financial restructuring program to provide short-term financing and improve the Company's capital structure for the long term. If we are successful, we believe our Company will be better positioned to achieve long-term financial sustainment and to realize the full potential of AEROSURF and our KL4 surfactant and aerosol delivery platforms."