Windtree Therapeutics, a biotech firm aiming to raise up to $200 million for a BNB treasury, faces a significant setback as the Nasdaq ordered its delisting. The company, which was positioned to be the first Nasdaq-listed firm to establish a BNB treasury, disclosed in a filing that the Nasdaq Capital Market will suspend trading of its shares effective August 21 due to failure to meet the $1 minimum bid price requirement. Windtree’s stock plummeted nearly 80% after the announcement, closing at just 11 cents. Although the company plans to transition to over-the-counter trading under its existing symbol, it cannot guarantee this will be successful. The initial surge in share value following the announcement of the BNB treasury initiative was short-lived, as shares could not maintain the crucial $1 mark for listing. This delisting contrasts sharply with companies like MicroStrategy, which successfully leverage Bitcoin in their business strategies while maintaining their positions on Nasdaq.

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