Here's Why Windtree Therapeutics Shares Are Popping Off Today

Windtree Therapeutics Inc WINT shares are trading higher by 63.98% to $0.74 after the company announced it has entered into a global licensing agreement for the development and commercialization of KL4 surfactant and AEROSURF. The company may receive up to $78.9 million in milestones.

What Happened?

Under terms of the global license agreement, Windtree Therapeutics says Lee's and Zhaoke will receive a global license to develop and commercialize Surfaxin^®, lyophilized lucinactant and AEROSURF for any potential indications and applications.

Lee's and Zhaoke will be responsible for funding all development, intellectual property, manufacturing, and commercialization activities and provide developmental, regulatory and eventual commercial sales milestones for Windtree of up to $78.9 million plus potential double-digit royalties.

Windtree says the company had previously granted a regional license to Lee's and Zhaoke for KL4 and AEROSURF for the territory of Greater China for which Windtree received an upfront payment, and this new agreement expands that territory globally. With the execution of this agreement, Windtree will no longer have ongoing maintenance and operating costs for the KL4 platform.

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According to data from Benzinga Pro, Windtree Therapeutics has a 52-week high of $2.37 and a 52-week low of $0.35.