Nasdaq stated it is going to droop and delist Windtree Therapeutics Inc. from the Nasdaq Capital Market at first of buying and selling on 21 Aug. after the corporate did not regain compliance with the trade’s $1-per-share minimal bid value below Rule 5550(a)(2), in keeping with a submitting with the U.S. Securities and Change Fee.
The Pennsylvania-based biotech, which rebranded this summer season as a digital-asset treasury automobile, has seen its inventory collapse to about 11 cents, wiping out roughly 98 % of its market worth prior to now six months. In July the corporate introduced plans to purchase as a lot as $700 million of Binance’s BNB token in a wager that echoed MicroStrategy’s Bitcoin technique, however the transfer didn’t elevate the share value.
Windtree stated it is going to proceed to cite its shares over-the-counter below the WINT ticker as soon as the Nasdaq suspension takes impact. The delisting curtails the corporate’s entry to mainstream capital markets at a time when a number of crypto-linked equities are below strain, at the same time as BNB itself touched a document excessive of about $881 on 21 Aug.
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