Why Windtree Therapeutics Stock Is Tumbling Today

Windtree Therapeutics Inc WINT shares are plunging in early trading Thursday after the company announced the pricing of an upsized public offering.

What Happened: Windtree announced the pricing of a $10.8 million public offering of 3,686,006 shares and warrants to purchase up to 3,686,006 shares of the company's common stock.

Each share is being sold together with one warrant at a combined public offering price of $2.93 per share. The warrants have an exercise price of $2.93 per share and will expire in five years.

Windtree expects to use $3.5 million of the net proceeds to extend enrollment and complete a Phase 2 clinical trial for istaroxime in cardiogenic shock. The rest will be used for working capital and general corporate purposes.

Windtree is estimated to report first-quarter earnings at the beginning of May, although a date has not yet been confirmed by the company.

Windtree Therapeutics is a biotechnology company focused on advancing late-stage interventions for cardiovascular disorders.

See Also: Why Las Vegas Sands Shares Are Rising Today

WINT Price Action: Windtree shares were down 59.3% at $2.28 at the time of publication, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.