Windtree Therapeutics (NASDAQ:WINT) is one of the biggest stock movers on Tuesday after announcing a new global licensing agreement for AEROSURF.
AEROSURF is the company’s treatment for preterm infants with respiratory distress syndrome and may have other applications. The company signed the new licensing agreement with Lee’s Pharmaceutical and its affiliate, Zhaoke Pharmaceutical.
The licensing agreement allows for the development and commercialization of AEROSURF for any potential indications and applications. The deal will have the two companies handling all the funding for the development and sale of the treatment.
Windtree Therapeutics benefits from this deal thanks to milestone payments and potential royalty payments included in the agreement. The company can receive up to $78.9 million in milestone payments as well as “potential double-digit royalties.”
President and CEO Craig Fraser said the following in a news release:
‘The out-licensing of the KL4 platform supports our portfolio prioritization and increases non-dilutive resources to progressing istaroxime on the significant opportunity in the major markets of cardiogenic shock and heart failure where recent positive data has created what we believe could be a relatively fast and less expensive developmental pathway in cardiogenic shock.”
Today’s news brings heavy trading to WINT stock. As of this writing, more than 52 million shares have changed hands. That’s a jump from the daily average trading volume of about 229,000 shares.
WINT stock is up more than 47% as of Tuesday afternoon.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
