Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Windtree’s BNB Treasury Bet Collides With Nasdaq Delisting Order

Windtree’s BNB Treasury Bet Collides With Nasdaq Delisting Order

CryptoNewsNet2025/08/21 08:16
By: coindesk.com
BTC-1.07%BNB-6.00%

Windtree Therapeutics’ high-profile plan to raise up to $200 million for a BNB (BNB) treasury has run headlong into a market reality check: the Nasdaq is kicking it off the exchange.

The Warrington, Pennsylvania-based biotech disclosed in a Tuesday filing that the Nasdaq Capital Market will suspend trading in its shares effective Aug. 21 after the company failed to meet the $1 minimum bid price required under Nasdaq Listing Rule 5550(a)(2).

Windtree expects to transition to over-the-counter trading under its existing symbol “WINT,” though it cannot guarantee that the plan will go through, it said in a filing.

The delisting undercuts Windtree’s July announcement that it would become the first Nasdaq-listed company to build a BNB treasury.

At the time, the company unveiled a $60 million securities purchase agreement with blockchain infrastructure investor Build and Build Corp., with the potential to scale the program to $200 million. Shares surged more than 20% in pre-market trading after the news last month, but the company could not maintain the important $1 mark to maintain its listing.

Windtree's stock slumped through most of late July and August, trading at 48 cents before the delisting announcement.

The move was positioned as an echo of Michael Saylor’s Strategy (MSTR), which has turned its balance sheet into a bitcoin proxy. But unlike Strategy, which remains a Nasdaq bellwether, Windtree will now be relegated to OTC markets, limiting its visibility and institutional reach.

Shares dropped nearly 80% after the company disclosed the delisting order, and closed at 11 cents.

Read more: Biotech Company Windtree to Raise Up to $200M for BNB Treasury

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Uniswap launches L2 (Unichain), what does it mean for Ethereum?

As is well known, the emergence of L2 solutions allows smaller, independent blockchains to leverage the deep liquidity available on the Ethereum chain. Moreover, for DeFi...

Ebunker2025/10/17 20:23
Why Ethereum Needs ZK-VM: The Ultimate Path to Scalability

Among the various approaches to Ethereum scaling, ZK is the most complex and crucial direction. Looking across the entire network, Vitalik Buterin and the Ethereum Foundation are making significant bets on ZK...

Ebunker2025/10/17 20:23
EIGEN Large Unlock Incoming: 10% Market Cap Dilution Each Month, Smart Money Exits Early

The article, based on on-chain data analysis, points out that the recent sharp decline of the $EIGEN token (a 53% plunge on October 10) is not merely a result of market panic, but rather a manifestation of a deeper underlying issue. The real core risk lies in the massive and continuous token unlocks over the next two years, which will exert tremendous selling pressure. The smartest and most profitable traders had already anticipated this and systematically exited their positions weeks before the market crash.

Chaincatcher2025/10/17 20:00

Trending news

More
1
Uniswap launches L2 (Unichain), what does it mean for Ethereum?
2
Why Ethereum Needs ZK-VM: The Ultimate Path to Scalability

Crypto prices

More
Bitcoin
Bitcoin
BTC
$106,844.95
-1.20%
Ethereum
Ethereum
ETH
$3,853.25
-0.33%
Tether USDt
Tether USDt
USDT
$1
-0.01%
BNB
BNB
BNB
$1,074.53
-6.67%
XRP
XRP
XRP
$2.31
-0.21%
Solana
Solana
SOL
$183.14
-1.07%
USDC
USDC
USDC
$0.9999
+0.01%
TRON
TRON
TRX
$0.3090
-2.04%
Dogecoin
Dogecoin
DOGE
$0.1858
-1.01%
Cardano
Cardano
ADA
$0.6291
-2.22%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter