Nasdaq to Delist Windtree Over Non-Compliance With $1 Share Price Rule

Windtree, a biotech-turned BNB treasury firm, faces imminent delisting from Nasdaq on August 21 due to non-compliance with the $1 share price rule. Its stock price has fallen 97.74% to $0.11 in the past six months. Delisting would make it harder for Windtree to access public markets, potentially jeopardizing its pivot to BNB treasuries.

Windtree Therapeutics, Inc. (WINT), a biotech-turned BNB treasury firm, is set to face delisting from the Nasdaq on August 21, 2025, due to non-compliance with the $1 share price rule [1]. The company's stock price has plummeted by 97.74% over the past six months, dropping to $0.11 [1]. This delisting would significantly impact Windtree's ability to access public markets, potentially jeopardizing its pivot to BNB treasuries.

The Nasdaq Capital Market has determined that Windtree's shares do not meet the minimum price requirement of $1 per share, as outlined in Listing Rule 5550(a)(2) [1]. As a result, the exchange has decided to suspend trading effective at the open on August 21, 2025. Windtree expects its shares to begin trading on the over-the-counter (OTC) market the same day under the existing symbol WINT, subject to approval for the OTCID tier [1].

The company has stated that the transition to the OTC market will not affect its operations. Windtree will continue to file required SEC reports, which will remain available on SEC.gov [1]. This commitment to regulatory disclosure is crucial for maintaining transparency and ensuring that investors have access to the company's financial information.

However, the delisting and subsequent move to the OTC market pose several risks. The OTC market is generally considered less liquid than the Nasdaq, which could lead to wider bid-ask spreads and potentially reduced institutional interest [1]. Additionally, the loss of a national exchange listing could affect shareholder relations, proxy participation, and perceived corporate governance quality [1].

Windtree has applied for OTCID quotation, but the filing appropriately disclaims that there is no assurance of approval, creating short-term procedural uncertainty for trading and holders [1]. The company's continued SEC filings preserve regulatory disclosure obligations and transparency, but the loss of a national exchange listing could have significant market implications.

In conclusion, Windtree Therapeutics faces a challenging situation as it prepares for delisting from the Nasdaq. The company's stock price decline and subsequent move to the OTC market present significant risks and uncertainties. Investors should closely monitor Windtree's SEC filings and the company's progress in the OTC market to stay informed about its financial health and future prospects.

References:
[1] https://www.stocktitan.net/sec-filings/WINT/8-k-windtree-therapeutics-inc-reports-material-event-42e546a4f86c.html