Windtree Therapeutics, Inc. (NasdaqCM:WINT) has engaged Ladenburg Thalmann & Co. to evaluate strategic alternatives for the Company with the goal of maximizing stockholder value. "We are pleased with the progress we have made in advancing our cardiovascular portfolio, most importantly progressing istaroxime in clinical trials in cardiogenic shock, as well as the recently announced licensing deal with Lee's Pharmaceuticals for the Greater China-Asia Pacific region.

We believe this non-dilutive licensing deal along with significantly cutting cash burn and the agreement for the elimination of the $15 million contingent liability with Deerfield has resulted in both a potentially expanded clinical development program and a stronger balance sheet," said Craig Fraser, Windtree's President and CEO. "While there has been positive data and progress, we believe the opportunity is under-recognized and under-valued in the current financial markets, however, it has resulted in in-bound business development interest. Given this, the Company has engaged a strategic advisor to help coordinate and assess these opportunities with the intent to maximize shareholder value." Windtree is making this announcement to inform shareholders and the public that in addition to the active execution of the next steps in our cardiogenic shock program outlined in our corporate deck and filings, the Company is also engaging in discussions for strategic alternatives with the goal of maximizing value for stockholders.

Beyond traditional licensing, the Company will explore the potential for an acquisition, merger, further licensing, company sale or other strategic transactions. There can be no assurances that the process or discussions will result in an attractive transaction, nor as to its outcome or timing and the Company has not made any decisions at this point in time. The engagement of Ladenburg as strategic advisor is intended to support the board's process and assessment of opportunities.