Windtree Therapeutics, Inc. (Nasdaq: WINT), a biotechnology company focused on developing aerosolized KL4 surfactant therapies for respiratory diseases, today announced that it has received written notification from the NASDAQ Stock Market ("NASDAQ") that it has determined to delist the Company's shares from the NASDAQ Capital Market ("Capital Market"), and will suspend trading in the Company's shares at the open of business on Friday, May 5, 2017, since the Company no longer satisfies the Capital Market's listing requirements, specifically the requirement to maintain a minimum of $2.5 million in stockholders' equity. The letter also stated that NASDAQ will complete the delisting by filing a Form 25 Notification of Delisting with the Securities and Exchange Commission (SEC). The Company has filed an application to have its shares quoted on the OTCQB® Market ("OTCQB"), which is operated by OTC Market Groups Inc., under the symbol "WINT" and anticipates that its shares will begin to trade on the OTCQB effective Friday, May 5, 2017.

The transition to the OTCQB does not affect the Company's business operations, including the Company's plans to complete and release top-line results from the AEROSURF® phase 2b clinical trial by mid?2017. The Company will also continue to be registered with the SEC under the Exchange Act and will continue to file periodic financial reports that will be available on the SEC's website, www.SEC.gov.

About Windtree Therapeutics

Windtree Therapeutics, Inc. is a clinical-stage biotechnology company focused on developing novel surfactant therapies for respiratory diseases and other potential applications. Windtree's proprietary technology platform includes a synthetic, peptide-containing surfactant (KL4 surfactant) that is structurally similar to endogenous pulmonary surfactant and novel drug-delivery technologies being developed to enable noninvasive administration of aerosolized KL4 surfactant. Windtree is focused initially on improving the management of respiratory distress syndrome (RDS) in premature infants and believes that its proprietary technology may make it possible, over time, to develop a pipeline of KL4 surfactant product candidates to address a variety of respiratory diseases for which there are few or no approved therapies.

For more information, please visit the Company's website at www.windtreetx.com.