H.C. Wainwright Starts Windtree Therapeutics (WINT) at Neutral, 'Istaroxime Poised to Navigate Late-Stage Development'

H.C. Wainwright analyst Vernon Bernardino initiates coverage on Windtree Therapeutics (NASDAQ: WINT) with a Neutral rating and a price target of $1.00.

The analyst comments "Positive on istaroxime’s future prospects but neutral on the shares in the near-term. We initiate coverage of Windtree Therapeutics, a clinical-stage biopharmaceutical company developing novel treatments for acute cardiovascular conditions, with a Neutral rating and $1 PT. We believe risk/reward on Windtree shares are currently balanced based on uncertainty in lead drug istaroxime’s potential to advance into a registrational Phase 3 clinical trial vs. our projection that istaroxime has near $1B peak annual sales potential. We are positive on the drug’s prospects based on two points: 1) in Phase 2 study, istaroxime has demonstrated ability to improve cardiac function and blood flow in patients experiencing cardiogenic shock (CS); and 2) in Phase 2 study, istaroxime has also shown ability to improve cardiac function and reduce risk of hospitalization in patients with acute heart failure (AHF). These are diseases that continue to have major unmet medical needs. However, as the SEISMIC Extension study builds upon data from the company’s three Phase 2 studies in AHF and early CS (SCAI Stage B), and thus, determine the best dosing regimen for Phase 3 study, we intend to wait for results from the company’s ongoing SEISMIC B Extension study, which is expected in mid-2024, and a planned parallel study in patients with more severe, SCAI Stage C CS, prior to getting more positive on Windtree shares. We believe positive results could position Windtree for a favorable End-of-Phase 2 (EOP2) meeting in 2024, and thus, prospectively project the company advancing to initiation of a registrational study in 2025."

For an analyst ratings summary and ratings history on Windtree Therapeutics click here. For more ratings news on Windtree Therapeutics click here.

Shares of Windtree Therapeutics closed at $0.70 yesterday.

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