US-based biotechnology company Windtree Therapeutics (WINT) is losing its listing on the Nasdaq exchange. The company's long-standing failure to meet the $1 minimum share price requirement has led to the company's delisting process. This development has severely shaken investor confidence and sent a seismic surge in the company's stock.
NASDAQ announced that Windtree has been officially put on notice as of August 19, 2025, and that trading will be halted at the market's opening on August 21. The company expects its shares to continue trading on over-the-counter (OTC) markets under the ticker symbol WINT. However, this process is not guaranteed; even with approval, OTC markets are known to have significantly limited liquidity and visibility compared to Nasdaq. This raises serious questions about Windtree's ability to raise capital in the future.
Historic Share Price Crash
Following the delisting decision, Windtree shares entered a free fall. According to market data, the stock price lost 76% of its value in a single day, falling to $0.11. This means the company's shares have lost more than 90% in just one month and over 99% since the beginning of the year.
In a filing with the U.S. Securities and Exchange Commission (SEC), the company's CEO, Jed Latkin, emphasized that operations are continuing as normal and that all reporting obligations will be fully met. However, the market's confidence issues are already reflected in the share price, as the figures indicate.
BNB Treasury Spotlight
Windtree has attracted attention not only for its biotechnology efforts but also for its crypto investments. Last month, the company added Binance Coin (BNB) to its corporate treasury, becoming a rare example in the U.S.
However, the decision to delist from Nasdaq revealed that this strategy, rather than building investor confidence, has raised questions. Interestingly, while Windtree shares collapsed, the BNB price followed the opposite trend. BNB, which has increased by over 3% in the last 24 hours, is trading around $860, surpassing the $850 level. The token, which has performed strongly throughout 2025, has gained 12% in the last month, 30% in six months, and 50% annually.
Windtree's transition to OTC markets will be a crucial step in determining how the company will proceed. This decision echoes Nasdaq's previous delisting of Bitcoin miner Argo.
Last month, Windtree announced a $500 million credit line and a $20 million stock purchase agreement with Build and Build Corp. As part of these agreements, the company is known to have purchased a significant amount of BNB tokens. This makes Windtree one of the few publicly traded companies in the US to hold a BNB treasury.
