Windtree Therapeutics, a Nasdaq-listed biotech firm, announced plans to purchase up to $700 million in BNB, the fifth-largest cryptocurrency, following its recent all-time high. The company intends to raise $520 million through a $500 million equity line of credit from an institutional investor and a $20 million stock purchase agreement. This significant investment is aimed at securing BNB to enhance the company’s balance sheet. CEO Jed Latkin emphasized that the ability to acquire more BNB is crucial for their strategy, pending stockholder approval. Currently trading at approximately $769, BNB has a market cap of $106.9 billion. This move is part of a wider trend of publicly traded companies, such as Nano Labs and Classover, investing in various cryptocurrencies to boost their stock performance. Windtree's stock has experienced a 162% increase over the past month despite a recent 5% dip. The firm collaborates with Kraken for asset custody as it navigates this new venture into the cryptocurrency space.

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