Companies · Biotechnology

Windtree Therapeutics Inc /De/

WARRINGTON · Biotechnology

Diligence memoA one-page analyst read on Windtree Therapeutics Inc /De/ — recommendation, valuation, rhythm, risks.
$104.5M
Total raised · real
10
Rounds
26.4×
Latest step-up
Top 11%
Sector rank · raised
Series B
Latest stage · inferred · Fri Dec 06 2019 00:00:00 GMT+0000 (Coordinated Universal Time)

Windtree Therapeutics Inc /De/ looks over-valued against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the biotech sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Over-valued
  • Modeled value is 1.71× the median modeled value of Series B Biotechnology companies in 2019–2021 (118 peers) — value vs value, same stage and era.
Dormant
  • Last raise 6.6 yr ago; this sector typically re-raises about every 14 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Biotechnology

Windtree Therapeutics Inc /De/ is one of 4291 Biotechnology companies tracked from WARRINGTON. By capital raised it ranks among the largest (ahead of 90% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

pharma

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
5
Investors (latest)
2019-12-06
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$500M$1.0B$1.5B$2.0BSeries B · 2008-07-01 Raised $25M (real) Modeled valuation $992M (est)Series B2008Series B · 2013-02-13 Raised $6.6M (real) Modeled valuation $261M (est)Series B2013Series B · 2013-12-03 Raised $13M (real) Modeled valuation $520M (est)Series B2013Series B · 2014-10-10 Raised $7.5M (real) Modeled valuation $298M (est)Series B2014Series B · 2017-02-13 Raised $11M (real) Modeled valuation $418M (est)Series B2017Series B · 2017-10-27 Raised $10M (real) Modeled valuation $409M (est)Series B2017Series B · 2018-03-30 Raised $2.6M (real) Modeled valuation $103M (est)Series B2018Series B · 2018-03-30 Raised $26M (real) Modeled valuation $1.0B (est)Series B2018Series B · 2018-07-02 Raised $1.5M (real) Modeled valuation $60M (est)Series B2018Series B · 2018-12-21 Raised $1.0M (real) Modeled valuation $40M (est)Series B2018Series B · 2019-12-06 Raised $26M (real) Modeled valuation $1.0B (est)Series B2019Cumulative $131M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$25.0M · 2008
Series B extension$6.6M · 2013
Series B extension$13.1M · 2013
Series B extension$7.5M · 2014
Series B extension$10.5M · 2017
Series B extension$10.3M · 2017
Series B extension$2.6M · 2018
Series B extension$26.0M · 2018
Series B extension$1.5M · 2018
Series B extension$1.0M · 2018
Series B extension$26.4M · 2019

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 25%.

Modeled valuation trajectory
$1.0B
Base estimate est.
$52.8M
Conservative case
$4.0B
Upside case
$146.8M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ba $15M–$40M round). Valuation is modeled from stage benchmarks scaled by the biotech sector profile. Directional, not a quoted figure.

Series B · modeled $992.2M · 2008-07-012008Series B · modeled $261.0M · 2013-02-13Series B · modeled $519.7M · 2013-12-03Series B · modeled $297.7M · 2014-10-10Series B · modeled $418.2M · 2017-02-13Series B · modeled $409.1M · 2017-10-27Series B · modeled $103.2M · 2018-03-30Series B · modeled $1.0B · 2018-03-30Series B · modeled $59.5M · 2018-07-02Series B · modeled $39.7M · 2018-12-21Series B · modeled $1.0B · 2019-12-062019
Model inputs · modeled:benchmark-stage-stepup-v1
18%
Dilution assumption
Implied ownership sold in the financing.
54%
Survival probability
36% low · 66% high
1.54×/yr
Annual markup
1.86×/yr upside case
6.0 yr
Elapsed time used
6.6 yr actual, capped for stale marks
biotech
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
14 mo
Avg between rounds
$9.1M/yr
Capital velocity
18.0 yr
On record since
2008
First round
11
Rounds on file
How it compares to the market

Benchmarked against 4291 companies in Biotechnology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 15× above median
This company$104.5M
Sector median$7.2M
Latest round — vs other Series B rounds in sector (real $, this stage) 1.5× above median
This company$26.4M
Sector median$17.5M
Modeled value — vs sector median (estimate, all stages) 16× above median
This company$1.0B
Sector median$64.2M

Raised more than 90% of sector peers (real $). Modeled value above 90% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series B) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #8 of 118.

This companyCohort peer
$100.0M$1.0B$10.0B$10.0M$100.0M$1.0BCapital raised (log)Pandion Therapeutics Holdco LLC · Series B Raised $40.0M · modeled $1.6B (est)Ocular Therapeutix, Inc · Series B Raised $81.0M · modeled $1.5B (est)Insilico Medicine Cayman TopCo · Series B Raised $36.8M · modeled $1.5B (est)Purigen Biosystems, Inc. · Series B Raised $61.9M · modeled $1.4B (est)Lucira Health, Inc. · Series B Raised $32.5M · modeled $1.3B (est)Peptilogics, Inc. · Series B Raised $40.9M · modeled $1.2B (est)Nanotech Energy, Inc. · Series B Raised $31.6M · modeled $1.1B (est)Liminal BioSciences Inc. · Series B Raised $67.1M · modeled $1.0B (est)Palladio Biosciences, Inc. · Series B Raised $28.0M · modeled $1.0B (est)Faze Medicines, Inc. · Series B Raised $30.4M · modeled $998.4M (est)Inivata Ltd · Series B Raised $25.0M · modeled $992.2M (est)Windtree Therapeutics Inc /De/ (this company) Raised $104.5M · modeled $1.0B (est)Windtree Therapeutics Inc /De/
CompanyStageRaised · realValue · estvs peer med.
Pandion Therapeutics Holdco LLCSeries B$40.0M$1.6B2.58×
Ocular Therapeutix, IncSeries B$81.0M$1.5B2.42×
Insilico Medicine Cayman TopCoSeries B$36.8M$1.5B2.37×
Purigen Biosystems, Inc.Series B$61.9M$1.4B2.22×
Lucira Health, Inc.Series B$32.5M$1.3B2.10×
Peptilogics, Inc.Series B$40.9M$1.2B1.90×
Nanotech Energy, Inc.Series B$31.6M$1.1B1.82×
Windtree Therapeutics Inc /De/ this companySeries B$104.5M$1.0B1.71×
Liminal BioSciences Inc.Series B$67.1M$1.0B1.67×
Palladio Biosciences, Inc.Series B$28.0M$1.0B1.63×
Faze Medicines, Inc.Series B$30.4M$998.4M1.62×
Inivata LtdSeries B$25.0M$992.2M1.61×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$25.0M2008-07-01$138.9M$992.2M85%
Series B$6.6M2013-02-13$36.5M$261.0M85%
Series B$13.1M2013-12-03$72.7M$519.7M85%
Series B$7.5M2014-10-10$41.7M$297.7M85%
Series B$10.5M2017-02-13$58.5M$418.2M90%
Series B$10.3M2017-10-27$57.3M$409.1M90%
Series B$2.6M2018-03-30$14.4M$103.2M90%
Series B$26.0M2018-03-30$144.4M$1.0B90%
Series B$1.5M2018-07-02$8.3M$59.5M90%
Series B$1.0M2018-12-21$5.6M$39.7M90%
Series B$26.4M2019-12-06$146.8M$1.0B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$25.0M2008-07-01
    • First recorded raise — entered as Series B.
  2. Series B$6.6M2013-02-13
    • Raised again after 55 mo — slower than the ~14 mo sector norm.
    • Round 3.8× smaller than the prior — bridge or down round.
    • 4 investors on this round.
  3. Series B$13.1M2013-12-03
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 2.0× larger than the prior — scaling up.
    • Revenue band moved No revenue → $0–$1M.
    • Switched to Rule 506(b) (was Rule 06).
    • 4 investors on this round.
  4. Series B$7.5M2014-10-10
    • Raised 10 mo later, in step with the ~14 mo sector norm.
    • Round 1.7× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  5. Series B$10.5M2017-02-13
    • Raised again after 28 mo — slower than the ~14 mo sector norm.
    • Round 1.4× larger than the prior — scaling up.
    • Revenue band moved $0–$1M → $1M–$5M.
    • 17 investors on this round.
  6. Series B$10.3M2017-10-27
    • Raised 8 mo later, in step with the ~14 mo sector norm.
    • Round roughly the size of the prior one.
    • 17 investors on this round.
  7. Series B$2.6M2018-03-30
    • Came back fast: 5 mo vs the ~14 mo sector norm.
    • Round 4.0× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  8. Series B$26.0M2018-03-30
    • Filed alongside the prior round (same month) — likely a tranche or amendment.
    • Round 10.0× larger than the prior — scaling up.
    • 1 investor on this round.
  9. Series B$1.5M2018-07-02
    • Came back fast: 3 mo vs the ~14 mo sector norm.
    • Round 17.3× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  10. Series B$1.0M2018-12-21
    • Came back fast: 6 mo vs the ~14 mo sector norm.
    • Round 1.5× smaller than the prior — bridge or down round.
    • 1 investor on this round.
  11. Series B$26.4M2019-12-06
    • Raised 11 mo later, in step with the ~14 mo sector norm.
    • Round 26.4× larger than the prior — scaling up.
    • 5 investors on this round.
Intelligence
2021 ~Q1
Modeled next raise · ~14mo cadence
$79.3M
Modeled next size est.range $51.5M$126.8M
26.4×
Last step-up
$9.1M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Daniel Geffken5 other2019-12
Bruce Peacock4 other2019-12
James Huang4 other2019-12
Joseph M. Mahady2 other2013-02
W. Thomas Amick2 other2008-07
Bruce A. Peacock1 other2013-02
James A. Huang1 other2018-12
John C Cooper1 other2013-02
John G. Cooper1 other2008-07
Max E. Link, Ph.D.1 other2008-07
Antonio Esteve, Ph.D.2008-07
Brian A. Schreiber2018-12
Brian Schreiber2019-12
Charles F. Katzer2008-07
Craig E. Fraser2017-02
Craig Fraser2019-12
David L. Lopez Esq., CPA2008-07
George A. Cox2018-12
George E. Cox2017-02
Herbert H. McDade, Jr.2008-07
John A. Tattory2017-02
John F. Tattory2013-02
John Leone2019-12
John R. Leone2013-02
Registry & provenance

Windtree Therapeutics Inc /De/ is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
946486
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Elicio Therapeutics, Inc.BiotechnologySeries B$105.3M$392.4Mnetwork1 shared operator · same sector · same stage
Ocular Therapeutix, IncBiotechnologySeries B$81.0M$1.5Bnetwork1 shared operator · same sector · same stage
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ProMIS Neurosciences Inc.BiotechnologySeries B$38.6M$111.5Mnetwork1 shared operator · same sector · same stage
Lysosomal Therapeutics, Inc.BiotechnologySeries B$38.0M$39.7Mnetwork1 shared operator · same sector · same stage
CARISMA Therapeutics Inc.BiotechnologySeries C$95.0M$1.3Bnetwork1 shared operator · same sector
Interius BioTherapeutics, Inc.BiotechnologySeries C$118.1M$478.4Mnetwork1 shared operator · same sector
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
WindMIL Therapeutics, Inc.BiotechnologySeries B$72.4M86%
Finch Therapeutics Group, Inc.BiotechnologySeries C$3.4B85%
Finch Therapeutics, Inc.BiotechnologySeed$165.8M85%
Window Therapeutics, Inc.BiotechnologySeries A$57.2M84%
Pandion Therapeutics, Inc.BiotechnologySeries B$857.3M83%
Strand Therapeutics IncBiotechnologySeries D+$883.1M83%
Arbor Biotechnologies, Inc.BiotechnologySeries D+$5.7B82%
Stingray Therapeutics, Inc.BiotechnologySeries A$3.0M82%
Frequently asked
How much funding has Windtree Therapeutics Inc /De/ raised?
Windtree Therapeutics Inc /De/ has raised approximately $104.5M in disclosed capital across 10 recorded financing rounds, aggregated from public filings.
What is Windtree Therapeutics Inc /De/'s estimated valuation?
Provath's modeled valuation for Windtree Therapeutics Inc /De/ is approximately $1.0B (modeled range $52.8M–$4.0B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Windtree Therapeutics Inc /De/ at?
Windtree Therapeutics Inc /De/'s latest modeled financing stage is Series B. Its most recent recorded round closed around Fri Dec 06.
What does Windtree Therapeutics Inc /De/ do and where is it based?
Windtree Therapeutics Inc /De/ operates in the Biotechnology sector, based in WARRINGTON.
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