Biotech firm Windtree Therapeutics plans to buy up to $700 million in BNB, following a recent all-time high for the cryptocurrency. Nasdaq-listed Windtree aims to bolster its balance sheet with this investment, after previously announcing a plan for a $200 million purchase. To facilitate these purchases, the firm is raising $520 million through a $500 million equity line of credit and a $20 million stock-purchase agreement. Windtree's CEO emphasized that acquiring additional funds for BNB purchases is vital to the company’s strategy. BNB, launched in 2017 by Binance, has a market cap of $106.9 billion and recently traded at around $769. The surge in interest for crypto assets among publicly traded companies highlights a growing trend, with Windtree joining other firms in building crypto treasuries. Despite a minor dip in stock price, Windtree's stock has increased significantly in the past month, reflecting investor enthusiasm for the company's crypto strategy.

Source 🔗