Windtree Therapeutics (NSDQ:WINT) said today that it implemented a 1-for-20 reverse stock split of its issued and outstanding common stock.
The reverse split was approved in November by the holder of the majority of the company’s shares without a meeting of shareholders, according to the Warrington, Penn.-based company.
Windtree’s stock began trading today on a split-adjusted basis under the symbol “WINTD” on the Nasdaq market. After 20 trading days, the symbol is slated to revert back to “WINT”.
In July, Windtree reported data from the 221-patient Phase IIb trial of its aerosolized KL4 surfactant for the treatment of respiratory distress syndrome in premature infants.
The Aerosurf trial evaluated aerosolized KL4 surfactant administered to premature infants 28 to 32 weeks gestational age in 2 dose groups with up to 2 repeat doses, compared to infants receiving nasal continuous positive airway pressure.
The trial evaluated incidence of nCPAP failure, time to nCPAP failure and physiological parameters indicating the effectiveness of lung function.
The inhaled therapy did not meet the primary endpoint of the study, which was reducing nCPAP failure at 72 hours.
The company said that the study failed to meet its primary endpoint because of the unexpected rate of treatment interruptions, after the disposable cartridge filters clogged in 23% of active enrollments.
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