BNB Soars as Windtree's BNB Bet Backfires with Delisting Fallout

BNB, the native token of the Binance blockchain, reached an all-time high of $873 on August 20, 2025, despite significant market turbulence affecting other equities. The surge in BNB prices was driven by broader crypto market momentum and institutional adoption of the asset. Notably, the token’s performance was not influenced by the financial decisions of biotech firm Windtree Therapeutics (WINT), which had recently made headlines for its controversial move to hold BNB in its corporate treasury and face a Nasdaq delisting [2].

Windtree Therapeutics received a delisting notice from Nasdaq on August 19, 2025, for failing to maintain the minimum bid price of $1 per share under Listing Rule 5550(a)(2). Trading in WINT was suspended on August 21, and the stock transitioned to the over-the-counter (OTC) market under the symbol “WINT.” The delisting follows a prolonged period of declining share prices, with the stock dropping 77.21% during the session and an additional 14.36% in after-hours trading, closing at $0.0942 [2].

Windtree’s delisting was exacerbated by its recent announcement to adopt a BNB treasury strategy, a move more typical of cryptocurrency firms than traditional biotechnology companies. The decision to allocate corporate assets to BNB raised questions about the firm’s strategic focus and risk management. Following the announcement, WINT shares saw an immediate and significant decline, compounding concerns among investors [2].

Financial analysts have pointed out that Windtree Therapeutics operates with no revenue and substantial net losses, which severely affect its market viability. Despite a brief positive outlook from recent corporate developments, the stock is viewed as a high-risk investment due to its weak fundamentals and limited upside potential. Technical indicators also reflect bearish momentum, aligning with the company’s financial challenges [1].

Despite the delisting and the stock's sharp decline, Windtree has affirmed that its business operations remain unaffected and that it will continue to file necessary disclosures with the Securities and Exchange Commission (SEC). The company plans to transition its shares to the OTC Markets, with an aim to eventually move to the OTCQB tier. However, the shift to a less liquid market is expected to limit access to capital and investor visibility, potentially affecting future growth and partnership opportunities [2].

The BNB treasury move and subsequent delisting highlight the increasing confluence between traditional finance and cryptocurrency, raising broader questions about asset diversification and regulatory clarity. While BNB continues to rise, Windtree’s situation underscores the challenges companies face when attempting to navigate the evolving financial landscape [2].

Source:

[1] Windtree Therapeutics Faces Nasdaq Delisting Notice (https://www.tipranks.com/news/company-announcements/windtree-therapeutics-faces-nasdaq-delisting-notice)

[2] Windtree Therapeutics, Inc. (WINT) Stock: Plunges 85% as Delisting Shock and BNB Strategy Raise Investor Eyebrows (https://coincentral.com/windtree-therapeutics-inc-wint-stock-plunges-85-as-delisting-shock-and-bnb-strategy-raise-investor-eyebrows/)