Windtree Therapeutics to Be Delisted From Nasdaq, Shares to Trade Over-the-Counter
Windtree Therapeutics Inc. said Tuesday that Nasdaq has notified that its common stock will be delisted from the Nasdaq Capital Market after failing to meet listing requirements. Trading of the company’s shares will be suspended at the market open on Aug. 21. Nasdaq Delisting and Rule Violation The Nasdaq Stock Market informed the Pennsylvania-based biotechnology firm on Aug. 19 that it will remove Windtree’s shares because of its noncompliance with Nasdaq Listing Rule 5550(a)(2). That rule requires a minimum bid price of $1 per share. The company had previously disclosed its noncompliance and was unable to regain compliance within the allowed period. Windtree’s common stock, traded under the ticker symbol WINT, will no longer be listed on Nasdaq once trading halts. The company’s removal comes as many small-cap firms face challenges maintaining listing standards during extended periods of market volatility. Transition to Over-the-Counter Market Following the delisting, Windtree expects its shares to trade publicly on the over-the-counter market beginning Aug. 21. The company said it has applied for its stock to be quoted on the OTCQB tier, a marketplace operated by OTC Markets Group, but cautioned that there is no guarantee the application will be approved. If the application is not accepted, shares would still trade on a lower over-the-counter tier, allowing investors to continue buying and selling the stock outside of Nasdaq. The ticker symbol “WINT” will remain unchanged during the transition. Business Operations Unaffected Windtree said the move from Nasdaq to over-the-counter trading will not affect its operations, research activities, or regulatory responsibilities. The company will continue filing quarterly, annual, and other required reports with the Securities and Exchange Commission. These filings remain accessible to the public through the SEC’s website. Although delisting often reduces trading liquidity and visibility among investors, Windtree emphasized that the decision is limited to its stock listing status and does not reflect changes in its drug development programs. The company, which develops therapies for cardiovascular and pulmonary conditions, has faced financial pressures common among small biotechnology firms, including limited revenue streams and reliance on outside funding. Windtree did not indicate whether it plans to appeal Nasdaq’s decision or pursue a reverse stock split, a common strategy companies use to regain compliance with listing standards.