A Biopharma Firm’s Stock Plunges 77% After Adopting a BNB Treasury Strategy

According to Cointelegraph, Windtree Therapeutics, a biotechnology company that recently announced a new treasury strategy focused on BNB, has seen its stock price drop by a staggering 77% after receiving a delisting notice from NASDAQ.

The action by NASDAQ was due to the company’s failure to comply with rule 5550(a)(2), which mandates a minimum bid price of $1 per share. The company’s WINT stock fell to $0.11 and experienced a further decline of over 4% in after-hours trading.

This incident follows the firm’s recent announcement of a $60 million BNB acquisition and agreements for an additional $520 million in future purchases. While the initial news had caused a 32% surge in the stock, the momentum was short-lived, with the price eventually falling more than 90% from its peak.

Despite the delisting, the company’s CEO stated that financial disclosures would continue. It remains unclear how much BNB the company currently holds or if it will proceed with its digital asset strategy.

The case of Windtree Therapeutics highlights that while a crypto treasury strategy has proven successful for some firms, it is not without significant risk.

Meanwhile, BNB itself has demonstrated resilience, climbing 5.6% to reach a new all-time high of $876. It is one of the few major altcoins to set a new record in the current market cycle.