Biotech Company Windtree to Raise Up to $200M for BNB Treasury

Windtree Therapeutics (WINT), a Nasdaq listed biotechnology company, plans to raise up to $200 million to build a treasury of BNB, the native token of BNB Chain.

Windtree has entered into a $60 million securities purchase agreement with blockchain infrastructure investor Build and Build Corp, with the potential for an additional $140 million, according to an announcement on Wednesday.

The Warrington, Pennsylvania-based firm said it would become the first Nasdaq-listed company to build a BNB treasury.

BNB, which was developed by cryptocurrency exchange Binance as the native token of its blockchain ecosystem and which is now considered a separate decentralized entity, is the fifth largest crypto by market cap.

A growing number of publicly-traded companies have been building crypto treasuries in recent months, attempting to replicate the model of Michael Saylor's Strategy (MSTR), which now owns nearly 3% of all the bitcoin that will ever exist.

Health care-adjacent firms have been noticeably present among such companies adopting crypto treasuries.

Windtree shares closed 8.62% higher on Wednesday at 90 cents and have climbed some 22.22% in pre-market to $1.1 at the time of writing.

View Comments

BNB0.48%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)