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WARRINGTON, Pa., March 25, 2021 /PRNewswire/ --Windtree Therapeutics, Inc. (NasdaqCM: WINT) ("Windtree" or the "Company"), a biotechnology and medical device company focused on advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders, today announced the closing of its previously announced public offering of 9,230,500 shares of its common stock, par value $0.001 per share, together with warrants to purchase up to 9,230,500 shares of its common stock. Each share of common stock was sold at a public offering price of $3.25 per share of common stock, together with a warrant to purchase one share of common stock. Each warrant has an exercise price of $3.60 per share, is exercisable immediately and expires on the fifth anniversary of the date of issuance. The shares of common stock and the warrants were immediately separable and were issued separately but were purchased together in this offering. Windtree received gross proceeds of approximately $30.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares of common stock and warrants in the offering were sold by Windtree. Windtree intends to use the net proceeds from the offering, together with other available funds, for the continued advancement of its lead product candidate istaroxime, a first-in-class, dual-acting agent being developed to improve cardiac function in patients with acute heart failure as well as in early cardiogenic shock, including for start-up activities for a second phase 2b clinical trial in acute heart failure, and for the development of its other pipeline product candidates and for working capital and general corporate purposes. Oppenheimer & Co. Inc. and Ladenburg Thalmann & Co. Inc. acted as joint book-running managers for the offering. National Securities Corporation acted as the lead manager for the offering. The offering was conducted pursuant to Windtree's shelf registration statement on Form S-3 (File No. 333-248874) previously filed with the Securities and Exchange Commission ("SEC") on September 17, 2020, and declared effective by the SEC on September 29, 2020. A final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to this offering may be obtained from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY, 10004, by telephone at (212) 667-8055, or by email at [emailprotected]; or from Ladenburg Thalmann & Co. Inc., Prospectus Department, 640 Fifth Avenue, 4th Floor, New York, New York 10019 or by email at [emailprotected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Windtree Therapeutics Windtree Therapeutics, Inc. is advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders to treat patients in moments of crisis. Using new clinical approaches, Windtree is developing a multi-asset franchise anchored around compounds with an ability to activate SERCA2a, with lead candidate istaroxime being developed as a first-in-class treatment for acute heart failure and early cardiogenic shock in heart failure. Windtree has also focused on developing AEROSURF as a non-invasive surfactant treatment for premature infants with respiratory distress syndrome, and is facilitating transfer of clinical development of AEROSURFto its licensee inAsia, Lee's HK, while Windtree evaluates other uses for its synthetic KL4 surfactant for the treatment of acute pulmonary conditions including lung injury due to viral, chemical and radiation induced insults. Also in its portfolio is rostafuroxin, a novel precision drug product targeting hypertensive patients with certain genetic profiles. For more information, please visit the Company's website atwww.windtreetx.com. Forward-Looking Statements This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The Company may, in some cases, use terms such as "predicts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company's current expectations. Examples of such risks and uncertainties include risks and uncertainties associated with the Company's expectations regarding the use of proceeds from the offering. These and other risks are described in the prospectus supplement and in the Company's periodic reports, including the annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available atwww.sec.gov. Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release. SOURCE Windtree Therapeutics, Inc. Related Links http://www.windtreetx.com

Answer: Windtree Therapeutics Announces Closing of $30.0 Million Public Offering