What's Going On With Windtree Therapeutics Shares Thursday?

Windtree Therapeutics, Inc. WINT shares are trading higher on Thursday after the company entered a license and supply agreement with Evofem Biosciences, Inc.

What To Know: Under the agreement, Windtree will become Evofen’s sourcing partner for PHEXXI, a hormone-free contraceptive for women. The agreement aims to help Evofem reduce the cost of producing PHEXXI by having Windtree contract with the manufacturer to provide it at a significantly lower cost than current levels.

Evofem will maintain ownership of the asset and continue to commercialize PHEXXI in the United States and internationally through strategic partnerships.

“Global expansion of PHEXXI has always been a critical mandate for Evofem, but a significant hurdle has been high manufacturing costs which make commercialization cost-prohibitive in many markets outside of the U.S.,” said Saundra Pelletier, CEO of Evofem.

“The meaningful decrease in the per-box cost of PHEXXI that we expect to achieve with Windtree’s assistance should allow Evofem to take PHEXXI into new, price-sensitive global markets where there is great need for non-hormonal contraceptives that women control. Our goal is to empower women; and to have PHEXXI available in all markets around the world is a big step in that direction.”

Windtree shares are trading on higher-than-normal session volume at 55.94 million shares, according to data from Benzinga Pro. The company’s average session volume over the past 100 days is 344,500 shares.

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WINT Price Action: At the time of writing, Windtree stock is trading 61.5% higher at $2.74, per data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.