1 day ago
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TLDR:
- Windtree secured $520M and plans to allocate 99% of it into Binance Coin (BNB).
- The $500M equity line awaits shareholder approval before BNB purchases can begin.
- A $20M stock deal with Build and Build Corp adds to Windtree’s crypto-heavy strategy.
- Market response was muted as investors weighed dilution risks and Binance uncertainty.
Windtree Therapeutics has taken a sharp turn that few expected. The Nasdaq-listed biotech firm secured $520 million in fresh funding.
Nearly all of it is earmarked for one thing: buying BNB. That move marks a rare crossover between traditional public companies and crypto asset treasuries. Now, the company’s future appears increasingly tied to Binance’s native token.
Biotech Meets Blockchain: Windtree’s Crypto-Heavy Strategy
On July 24, Windtree revealed a $500 million equity line of credit, along with a separate $20 million stock purchase agreement. According to the firm, 99% of the combined $520 million will go toward acquiring BNB.
The ELOC arrangement hinges on shareholder approval to expand the authorized share count. Until then, the capital remains locked. Windtree’s CEO, Jed Latkin, said the plan is part of a broader digital asset treasury strategy. He called BNB a “core component” of the company’s next phase.
Nasdaq-listed biotech company Windtree Therapeutics (WINT) announced it has signed a $500 million equity line of credit (ELOC) agreement and an additional $20 million stock purchase deal, with total funding up to $520 million. 99% of the funds will be used to buy BNB.…
— Wu Blockchain (@WuBlockchain) July 25, 2025
The deal splits into two parts. One involves the equity line, which offers long-term flexibility. The second, a $20 million stock deal, was made with Build and Build Corp. The company has stated clearly that nearly all proceeds will go into BNB.
Both deals come with caveats. The ELOC can’t activate until shareholders vote on share expansion. Until then, Windtree remains in a holding pattern.
Market Reaction: Mixed Signals for WINT and BNB
Shortly after the news broke, Windtree’s stock price saw a brief spike. But enthusiasm faded fast. Investors reacted to the dilution risk as shares cooled. Alva, a crypto analytics bot, flagged the move and noted BNB’s rally stalled soon after.
Technical traders didn’t bite. BNB rose slightly, then retreated as broader crypto markets remained flat. Regulatory uncertainty around Binance added further weight.
Windtree’s pivot into BNB raises eyebrows. A biotech firm moving hundreds of millions into a volatile digital token isn’t typical. But this isn’t the first time a public company leaned into crypto reserves.
Windtree’s leadership insists the move is part of a diversified growth plan. Whether it pays off may depend less on science and more on the crypto charts.
Now, with $520 million on the table and stockholder approval pending, Windtree’s treasury is bracing for a digital reset, one that links biotech with blockchain in a way Wall Street rarely sees.
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