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Windtree Therapeutics has been delisted from the Nasdaq due to its failure to meet one of the listing requirements. The reason was that the company's stock price did not maintain a minimum bid price of $1.00 per share for 30 consecutive trading days, which violates Nasdaq listing rule 5550(a)(2).
The company had previously announced plans to adopt a digital currency treasury strategy focused on BNB, with up to $700 million allocated for purchasing BNB. Although its initial announcement led to a slight increase in its stock price,
the stock subsequently fell sharply. Interestingly, the price of BNB reached its all-time high at the same time the company announced its delisting from Nasdaq,
suggesting that the company's delisting did not significantly negatively impact the price of BNB.
Windtree plans to continue trading its shares on the OTC market under its current symbol WINT and has applied for listing on this market.
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