The US stock BNB treasury company WINT has been delisted by Nasdaq for violations, with its stock price falling another 77% and its market capitalization now only 3 million dollars.

On August 21, according to market data, the US stock BNB Treasury Company Windtree Therapeutics (WINT) received a notification from Nasdaq on August 19, 2025, indicating that its stock price had stayed below $1 for too long (Rule 5550(a)(2)). After multiple reverse splits and failing to meet the usual grace period, its common stock will be delisted from the Nasdaq Capital Market and transferred to the OTC market for trading on August 21. This news caused its stock price to start falling early today, ultimately closing down 77.21%, with a market capitalization of only $3.152 million. It is worth noting that WINT's stock price has maintained a textbook-like 'drop to zero' trend for nearly a year. On August 22 last year, the stock price was $517.5, and it has since accumulated a decline of 99.98%. The opening price on February 21 this year was $4.68, and it has since accumulated a decline of 97.8%. After announcing the BNB Treasury strategy a month ago, the stock experienced a significant increase in volume over several trading days (including several trading days before the announcement), ultimately reaching a recent high of $1.28 on July 18, after which it began a one-sided downward trend, accumulating a decline of 91.4% to date. It is reported that Windtree Therapeutics is a clinical-stage biopharmaceutical and medical device company, with multiple medical projects still in the clinical stage and far from commercialization. According to the latest data, the company's net income for the most recent quarter was -$10.64 million, compared to -$4.04 million in the previous quarter, with losses widening by 163.04%. The company initially announced the launch of the BNB Treasury strategy on July 16, raising $60 million through securities subscription. On July 25, it announced that it had signed a new financing agreement for $520 million to purchase BNB.