U.S. Stock BNB Treasury Company WINT Delisted by Nasdaq for Violations, Stock Price Drops Another 77%, Market Value Down to $3 Million

BlockBeats News, August 21: According to market data, U.S. stock BNB Treasury Company Windtree Therapeutics (WINT) received a notification from Nasdaq on August 19, 2025, stating that its stock price had remained below $1 for too long (Rule 5550(a)(2)). After multiple reverse stock splits and failing to meet the usual grace period, its common stock will be delisted from the Nasdaq Capital Market on August 21 and transferred to OTC market trading. This news caused its stock price to start falling early this morning, ultimately closing down 77.21%, with a market value of only $3.152 million. Notably, WINT's stock price has maintained a textbook-standard "zeroing out" trend over the past year. On August 22 last year, the stock price was $517.5, marking a cumulative decline of 99.98% to date. On February 21 this year, the opening price was $4.68, with a cumulative decline of 97.8% to date. After announcing the BNB Treasury strategy one month ago, the stock experienced significantly increased trading volume on multiple trading days (including several days before the announcement), ultimately reaching a recent high of $1.28 on July 18, before resuming a unilateral downward trend, with a cumulative decline of 91.4% to date. Reportedly, Windtree Therapeutics is a clinical-stage biopharmaceutical and medical device company, with several medical projects still in clinical stages and far from commercialization. According to the latest data, the company's net income for the most recent quarter was -$10.64 million, compared to -$4.04 million in the previous quarter, representing a 163.04% increase in losses. The company initially announced the launch of its BNB Treasury strategy on July 16, raising $60 million through securities subscription financing. On July 25, it further announced signing a new $520 million financing agreement to purchase BNB.