Windtree Therapeutics Inc. 2025年季度报告

For the quarterly period endedMarch 31, 2025or WINDTREE THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) 94-3171943(I.R.S. EmployerIdentification No.)18976-3622(Zip Code) (State or other jurisdiction of incorporation or organization) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As ofMay 15, 2025, there were3,661,289shares of the registrant’s common stock outstanding, par value$0.001per share. Table of Contents PART I - FINANCIAL INFORMATION Item 1.Financial Statements CONDENSED CONSOLIDATED BALANCE SHEETSAs of March 31, 2025(unaudited) and December 31, 2024 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)For the Three Months Ended March 31, 2025and 2024 CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY ANDSTOCKHOLDERS’ EQUITY (unaudited)For the Three Months Ended March 31, 2025and 2024 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)For the ThreeMonths Ended March 31, 2025and 2024 Notes to Condensed Consolidated Financial Statements (unaudited) Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations PART II - OTHER INFORMATION Item 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem 5.Other InformationItem 6.ExhibitsSignatures Table of Contents Unless the context otherwise requires, all references to “we,” “us,” “our,” and the “Company” include Windtree Therapeutics, Inc., andits consolidated subsidiaries. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the ExchangeAct.These forward-looking statements provide our current expectations or forecasts of future events and financial performance andmay be identified by the use of forward-looking terminology, including such terms as “anticipates,” “believes,” “contemplates,” We intend that all forward-looking statements be subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of1995. Forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially fromany future results expressed or implied by the forward-looking statements. We caution you therefore against relying on any of theseforward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Examples ●our estimates regarding future results of operations, financial position, research and development costs, capitalrequirements, and our needs for additional financing;●how long we can continue to fund our operations with our existing cash and cash equivalents;●changes in market conditions, general economic conditions, and the banking sector, and potential constraints inaccessing capital or credit if and when needed with favorable terms, if at all;●the potential impairment of our intangible assets on our condensed consolidated balance sheet, which could lead tomaterial impairment charges in the future;●our ability to repay indebtedness;●potential delays and uncertainties in our anticipated timelines and milestones and additional costs associated with theimpact of the evolving events in the Israel-Gaza region,the ongoing military conflict between Russian and Ukraine,and trade and political tensions between the United States, or the U.S., andthe People’s Republic of China on ourclinical trial operations;●the costs, timing, and