US Stock BNB Treasury Company WINT Delisted from Nasdaq for Violations, Stock Price Plunges Another 77%, Market Cap Now Only $3 Million

On August 21st, based on market data, the US stock BNB Treasury company Windtree Therapeutics (WINT) received a notification from Nasdaq on August 19, 2025. Due to the fact that its stock price remained below $1 for an extended period (Rule 5550(a)(2)), after multiple reverse stock splits and failing to meet the usual extension criteria, its common stock will be delisted from the Nasdaq Capital Market on August 21st and will be traded on the OTC market. This piece of news led to its stock price starting to plummet early today, ultimately closing down by 77.21% with a market capitalization of only $3.152 million. It is worthy of note that the stock price of WINT has maintained a textbook-like "reset" trend over the past year. The stock price was $517.50 on August 22nd of last year and has since fallen by 99.98%. The opening price on February 21st of this year was $4.68 and has since dropped by 97.8%. 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), eventually reaching a recent high of $1.28 on July 18th, followed by another one-way downward trend with a cumulative drop of 91.4%. Windtree Therapeutics is a clinical-stage biopharmaceutical and medical device company, and several medical projects in the clinical stage are still far from commercialization. According to the latest data, the company's net revenue in 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 the BNB Treasury strategy on July 16th and raised $60 million through a securities subscription. On July 25th, it announced again that it had signed a new $520 million financing agreement to purchase BNB.