Windtree Therapeutics fell 77% after Nasdaq informed it that the firm would be removed from the exchange because they failed to comply with the requirements.
Windtree was in non-compliance with Nasdaq Listing Rule 5550(a)(2), which requires that a stock’s minimum bid be $1 per share. stated In a Tuesday filing with the US Securities regulator. Nasdaq plans to stop trading WINTs on Thursday.
Google Finance reports that Windtree shares (WINT), which dropped by a stunning 77.2% on news of the announcement, are now down 4.7% after hours. data shows. WINT’s shares rose slightly on July 16 when the company announced their BNB Treasury strategy. However, they have dropped over 90% from its peak of July 18.
Although some companies have gained by adopting a crypto treasury strategyOthers, however, have not been so lucky. Windtree has joined a growing list of public companies that have adopted the BNB strategy. This gives investors more options. exposure to BNB Without holding cryptocurrency directly.
Windtree continues to disclose financial information
Jed Latkin said that Windtree will continue to report despite delisting.
Argo Blockchain and other crypto companies are among the most popular. have been suspended Nasdaq, but were relisted After satisfying the compliance requirements.
Windtree has made some big announcements and then gone quiet
Windtree announced its BNB treasure on 16th July. The agreement was for $60,000,000 with Build and Build, Inc. with an option to add another $140,000,000.
The WINT price rose by 32.2% in the following two days, before starting to fall.
It signed the agreement a few days later. $500 million equity line of credit with an unnamed investor, with a separate $20 million stock‑purchase pact with Build and Build Corp to purchase more BNB tokens.
Windtree did not disclose how much BNB the company holds, or if they intend to continue their BNB treasury. Windtree responded to Cointelegraph’s request for comment.
BNB reaches new highs
BNB has been one of BNB’s best performers. blue-chip altcoins CoinGecko reported that bitcoin rose by 5.6%, to $876.26 on Wednesday. This is a new record, coinGecko said. The broader cryptocurrency market has recovered after a 2-week low. data shows.
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BNB is the only B&B in town. large altcoins This bull cycle will see XRP and XRP set new records.XRPSolana (SOL) — while the likes of Ether (ETHDogecoinDOGEChainlinkLINKCardanoADAThey are still striving to achieve the same highs as in 2021.
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Source: cointelegraph.com
