Nasdaq Delists Windtree Therapeutics for Noncompliance

Nasdaq is set to delist Windtree Therapeutics (ticker WINT) due to the company’s failure to meet compliance requirements. According to a recent filing with the U.S. Securities and Exchange Commission, Windtree confirmed its noncompliance with Nasdaq Listing Rule 5550(a)(2), which mandates a minimum bid price of $1.00 per share. On August 19, 2025, Windtree's CEO Jed Latkin informed the SEC that Nasdaq intends to suspend trading in the company's common stock effective August 21, 2025. Windtree's stock has depreciated over 90% in one month and more than 99% this year, dropping to $0.11, with shares consistently trading below the $1 threshold since May. Earlier this year, Nasdaq also moved to delist Argo, a bitcoin mining company, for similar reasons. The suspension will take effect during the next market session; however, Latkin assured that Windtree will uphold its reporting obligations despite the downgrade. The company is among those known as digital asset treasury (DATs) that aim to raise capital for cryptocurrency investments. Recently, Windtree signed a notable $500 million equity line of credit with an undisclosed institutional investor and a separate $20 million stock purchase agreement to acquire BNB tokens, positioning itself as one of the first public U.S. companies to invest significantly in BNBChain’s native token. The reasons behind Windtree's substantial decline in stock value remain unclear, especially given the initial excitement regarding crypto treasury ventures. For example, Sharplink, a major Ethereum treasury firm, also experienced a significant drop following its second-quarter earnings report. As of the latest data, BNB is trading at $877, reflecting an almost 5% increase for the day and a gain from $708 since the beginning of the year.