Windtree Therapeutics Shares More Than Double on Withdrawn Equity Offering
Dow Jones07-26
Windtree Therapeutics surged 107.88% to $6.86 in morning trading as the biotechnology company withdrew its May 9 filing for a stock and warrant offering.
The stock had declined 11% in the regular session after the company provided an update on istaroxime, which is intended to improve cardiac function. Windtree expects its Phase 2 SEISMiC study to complete enrollment in the next several weeks.
On Monday, Windtree announced a private placement and equity line of credit that "accomplish several important objectives for the company." The private placement transaction of about $12.9 million included about $3.4 million of new funding and $9.5 million full cancellation of outstanding senior notes.
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