Windtree on the Brink: Nasdaq Tightens Rules, Sparks Delisting Fears

Windtree Therapeutics faces a brutal Nasdaq reckoning as exchange regulators clamp down on compliance standards.

The Compliance Crackdown

Nasdaq isn't playing nice anymore—Windtree just got served with a delisting warning after failing to meet updated listing requirements. The biopharma firm now scrambles to appeal while its stock teeters on the edge.

Market Realities

Public markets remain a brutal arena for underperformers. Windtree's struggle mirrors a wider trend: companies that can't keep up with exchange mandates get shown the exit—no tissues, no sympathy. Just another day in the ruthless world of compliance-driven finance.

Nasdaq has announced its intention to delist Windtree Therapeutics (WINT) due to non-compliance, particularly related to the minimum bid price rule. The notice specifies that Windtree’s shares will cease trading on August 21, 2025. This MOVE comes as an outcome of the company’s failure to maintain a minimum price of $1 per share as required by Nasdaq Listing Rule 5550(a)(2). Despite this setback, CEO Jed Latkin has affirmed the company’s commitment to ongoing compliance with its reporting obligations.

Nasdaq’s Delisting Move

Windtree Therapeutics finds itself pushed out of the Nasdaq Capital Market as it does not meet the minimum $1 bid price criterion. The company first dipped below this threshold in May and has since struggled to recover. According to Yahoo Finance, Windtree’s shares have plummeted over 90% in the last month alone, and over 99% since the beginning of the year, closing at a distressing $0.11 before the suspension of trading.

A similar fate befell Bitcoin$113,737 miner Argo (ARGO) in July, when Nasdaq began proceedings to delist the company for maintaining a price below $1. For Windtree, the suspension of trading on Nasdaq starts on August 21, but the company will continue to fulfill its regulatory reporting obligations regardless of the delisting.

Known for BNB Investments

Windtree has gained attention for its cryptocurrency investment strategy, specifically through investments in BNB. In July, the Nasdaq-listed biotechnology company secured a $500 million equity line with an undisclosed institutional investor and entered a $20 million share purchase agreement focused on BNB coin. This strategic move made Windtree one of the first publicly traded companies in the U.S. to heavily invest in BNB Chain’s mainnet asset.

The sharp decline in Windtree’s share prices remains puzzling. Companies with cryptocurrency-focused treasuries have seen initial Optimism followed by financial setbacks, as evidenced by Sharplink’s similar downturn in its stock value post its second-quarter earnings report despite its Ethereum$4,298 reserves approach.

According to CryptoAppsy, BNB experienced a 0.12% increase, trading at $859.14 over the past 24 hours. Earlier in the day, BNB briefly surged to $882.59, marking an all-time high for the altcoin.