Windtree Therapeutics (WINT) AI Stock Analysis

• Market Cap: $337.09K
• Dividend Yield: N/A
• Average Volume (3M): 403.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.90
• Revenue Growth: N/A
• EPS Growth: 99.09%
• Country: US
• Employees: 14
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.08
• Shares Outstanding: 33,708,782
• 10 Day Avg. Volume: 496,404
• 30 Day Avg. Volume: 403,289
• PEG Ratio: <0.01
• Price to Book (P/B): 0.09
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.06
• Enterprise Value/Market Cap: 38.75
• Enterprise Value/Revenue: 145.12
• Enterprise Value/Gross Profit: 1.19K
• Enterprise Value/Ebitda: -0.31
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -549
• Revenue Forecast (FY): $12.40M

• Rating: 39 Underperform
• Price Target: $0.01 ▼(-56.67% Downside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is dragged down primarily by very weak financial performance (minimal revenue, large losses, heavy cash burn, and negative equity with higher debt), reinforced by strongly bearish technical signals (well below moving averages with negative momentum). Valuation provides limited offset because losses make P/E uninformative and there is no dividend yield support.

Positive Factors

Focused critical-care biotech pipeline

Specialization in critical‑care and cardiopulmonary therapeutics is a durable strategic position: these are high‑unmet‑need areas with structural demand and limited crowded competition. A successful clinical advance could produce outsized long‑term returns relative to company size.

Ability to access capital for strategic deals

Issuing senior convertible notes to fund an acquisition demonstrates the company can secure external financing and pursue M&A even with weak operations. Access to transactional capital supports strategic flexibility and potential inorganic growth over the medium term.

Lean operating structure

A very small workforce indicates a lean cost base and focused R&D organization, which can extend runway per dollar of funding and enable nimble program management. For an early‑stage biotech, low overhead helps preserve capital for clinical priorities.

Negative Factors

Negative equity and rising leverage

Negative equity and increased debt signal materially impaired balance‑sheet resilience. With equity deficit and higher leverage, the company faces elevated insolvency, refinancing and dilution risks, reducing financial flexibility to fund clinical programs long term.

Persistent, sizable cash burn

Sustained negative operating and free cash flow of roughly -$15M TTM indicates ongoing dependence on external financing. Continuous cash burn threatens program continuity and increases the probability of dilutive financings or project delays over the next several quarters.

Recent sudden executive departure

An abrupt exit of the President/COO creates strategic and execution risk at a sensitive time for an R&D‑centric company. Leadership turnover can delay decision making, complicate fundraising and partnerships, and reduce continuity in clinical program execution.

Windtree Therapeutics Business Overview & Revenue Model

Company Description

Windtree Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on the development of therapeutics for the treatment of acute cardiovascular and secondarily in acute pulmonary diseases. The company's lead development programs include istaroxime, which is in Phase IIb clinical trial for the treatment of acute decompensated heart failure, as well as in Phase IIa clinical trial for the treatment of early cardiogenic shock; AEROSURF, an aerosolized KL4 surfactant, which is in Phase IIb clinical trial to treat respiratory distress syndrome in premature infants; Lyophilized KL4 surfactant, which is in Phase IIa clinical trial for the treatment of lung injury resulting from COVID-19; and Rostafuroxin that is in Phase IIb clinical trial for the treatment of genetically associated hypertension. It has a collaboration with Universita degli Studi di Milano-Bicocca for the discovery and development of new SERCA2a compounds for the treatment of chronic and acute human heart failure; a strategic alliance with Laboratorios del Dr. Esteve, S.A. for the development, marketing, and sales of a portfolio of potential KL4 surfactant products; and collaboration with Battelle Memorial Institute for development of its ADS for use in its phase III program. The company was formerly known as Discovery Laboratories, Inc. and changed its name to Windtree Therapeutics, Inc. in April 2016. Windtree Therapeutics, Inc. was incorporated in 1992 and is headquartered in Warrington, Pennsylvania. Windtree Therapeutics, Inc. is a subsidiary of Lee's Pharmaceutical Holdings Limited.

How the Company Makes Money

Windtree Therapeutics generates revenue primarily through the development and commercialization of its proprietary therapeutic products, including licensing agreements and collaboration partnerships. The company may receive milestone payments, royalties, and other financial support from partnerships with larger pharmaceutical companies interested in their novel therapies. Additionally, Windtree may secure funding through government grants or research and development contracts aimed at advancing its clinical trials and product development initiatives. The company's financial success is closely tied to the progress and approval of its drug candidates in regulatory pathways and the subsequent commercialization efforts.

Windtree Therapeutics Financial Statement Overview

Summary

Financial condition is extremely weak: minimal revenue, deeply negative profitability, heavy ongoing cash burn (TTM operating/free cash flow about -$15.1M), and a materially deteriorated balance sheet with negative equity (TTM -$11.6M) alongside rising debt ($12.9M), increasing dilution/financing risk.

Income Statement

Operating performance remains very weak. Revenue is minimal in TTM (Trailing-Twelve-Months) ($0.09M) and was $0 in each of the annual periods shown, while profitability is deeply negative (TTM net margin around -454% with large operating losses). While losses have fluctuated year-to-year (including some improvement vs the very large 2021–2022 loss levels), the business is still far from break-even and the current revenue base does not meaningfully offset the cost structure.

Balance Sheet

Balance sheet risk has increased materially. Stockholders’ equity turned negative in TTM (Trailing-Twelve-Months) (-$11.6M), and debt rose to $12.9M, implying extreme leverage versus equity (debt-to-equity is not economically meaningful with negative equity). While earlier annual periods showed positive equity and in some years modest leverage, the latest position suggests reduced financial flexibility and higher recapitalization/dilution risk.

Cash Flow

Cash burn remains heavy and persistent. TTM (Trailing-Twelve-Months) operating cash flow and free cash flow were both about -$15.1M, and free cash flow declined versus the prior year (negative growth). Cash flow is broadly consistent with reported losses (free cash flow roughly in line with net income), but the key weakness is the ongoing, sizable cash outflow that likely requires continued external funding.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Dec 2020
Income Statement
Total Revenue	90.00K	0.00	0.00	0.00	0.00	0.00
Gross Profit	11.00K	-84.00K	-82.00K	-1.06M	-869.00K	-638.00K
EBITDA	-42.60M	-1.47M	-20.16M	-39.46M	-76.64M	-31.80M
Net Income	-40.00M	-5.49M	-20.29M	-39.21M	-67.64M	-30.28M
Balance Sheet
Total Assets	15.98M	27.88M	32.41M	37.95M	74.79M	112.89M
Cash, Cash Equivalents and Short-Term Investments	204.00K	1.78M	4.32M	6.17M	22.35M	16.93M
Total Debt	12.93M	1.82M	16.83M	2.28M	2.89M	3.78M
Total Liabilities	27.58M	17.88M	29.02M	27.94M	32.91M	43.33M
Stockholders Equity	-11.61M	10.00M	3.39M	10.01M	41.88M	69.55M
Cash Flow
Free Cash Flow	-15.12M	-15.41M	-13.45M	-19.46M	-23.94M	-25.61M
Operating Cash Flow	-15.12M	-15.40M	-13.44M	-19.45M	-23.66M	-25.32M
Investing Cash Flow	-5.97M	-12.00K	-15.00K	197.00K	-279.00K	-291.00K
Financing Cash Flow	19.00M	12.73M	11.60M	3.08M	29.36M	19.96M

Windtree Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.03
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WINT, the sentiment is Negative. The current price of 0.03 is above the 20-day moving average (MA) of 0.01, above the 50-day MA of 0.03, and below the 200-day MA of 0.31, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 9.40 is Positive, neither overbought nor oversold. The STOCH value of 24.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for WINT.

Windtree Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TOVX	45 Neutral	$6.99M	-0.04	-166.96%	―	―	83.25%
AZTR	45 Neutral	$1.89M	-0.03	-215.04%	―	-100.00%	93.82%
ENVB	42 Neutral	$3.06M	-0.03	-262.78%	―	―	79.45%
INDP	41 Neutral	$4.51M	-0.06	-317.98%	―	―	34.57%
ARTL	41 Neutral	$2.62M	-0.08	-436.14%	―	―	-22.52%
WINT	39 Underperform	$337.09K	>-0.01	―	―	―	99.09%

Windtree Therapeutics Corporate Events

Windtree Therapeutics Announces Sudden Departure of President and COO

On January 5, 2026, Windtree Therapeutics, Inc. announced that Eric L. Curtis resigned from his roles as President and Chief Operating Officer, effective immediately. The abrupt leadership change may signal a period of transition for the company’s executive team and could prompt investors and other stakeholders to reassess management stability and future strategic direction.

The most recent analyst rating on (WINT) stock is a Hold with a $0.03 price target. To see the full list of analyst forecasts on Windtree Therapeutics stock, see the WINT Stock Forecast page.

Windtree Therapeutics Issues Convertible Notes for Acquisition

On November 25, 2025, Windtree Therapeutics issued $857,142.86 in senior convertible promissory notes due 2026 to fund the acquisition of CommLoan Inc. and for corporate purposes. The notes, which mature in 2026, include provisions for conversion into common stock, prepayment conditions, and adjustments in case of equity financing, impacting the company’s financial strategy and stakeholder interests.