Windtree Therapeutics, a struggling biotech firm that rebranded itself around holding BNB reserves, is set to be delisted from the Nasdaq after its stock collapsed below the exchange’s minimum price requirement.
According to a filing with the Securities and Exchange Commission, Nasdaq will remove Windtree from its listings on Aug. 21 after the company failed to meet the $1 per-share threshold.
Windtree, which trades under the ticker WINT, has seen its stock plunge nearly 98% in the past six months to just 11 cents.
BNB treasury pivot under threat
Once focused on developing treatments for acute pulmonary conditions, Windtree drew attention earlier this summer when it pivoted into digital assets, announcing plans to acquire up to $200 million worth of BNB tokens.
On July 16, the firm disclosed a $60 million purchase agreement with Build and Build Corp., with options for an additional $140 million. It became one of a handful of firms to adopt BNB as a treasury reserve asset.
Days later,
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