$BNB second report on COINTELEGRAPH that informs:
Company with treasury in BNB plummets 77% after delisting warning from Nasdaq
Windtree Therapeutics, a biotechnology company with a treasury in BNB, fell 77% on Wednesday after informing the SEC that it would be delisted from the Nasdaq exchange.
Windtree Therapeutics, a biotechnology company that implemented a treasury strategy with BNB last month, fell 77% on Wednesday after Nasdaq announced it would be delisted from the stock exchange for failing to meet compliance requirements.
The non-compliance is related to Nasdaq Listing Rule 5550(a)(2), which requires that a company's stock maintain a minimum price of $1.00 per share, as Windtree reported in a document submitted to the SEC on Tuesday. Trading of the shares will be suspended on Thursday.
Windtree shares (WINT) plummeted 77.2% to $0.11 with the news and fell another 4.7% in after-hours trading, according to Google Finance data. WINT shares had risen modestly on July 16 when the company announced its treasury strategy with BNB, but have since fallen more than 90% from the peak recorded on July 18.
While some companies have gained by adopting a treasury strategy in crypto, others have not been as fortunate. Windtree is part of a growing group of publicly traded companies that have adopted a strategy with BNB, giving investors exposure to BNB without directly holding the cryptocurrency.
