(RTTNews) - Shares of Plus Therapeutics Inc. (PSTV) are down over 40% today after the company priced its upsized $15 million public offering.
The offering consists of 39.5 million units, with each unit consisting of one share of common stock and one warrant. The offering is expected to close on or about January 16, 2026, subject to customary conditions.
The company has granted the underwriter a 30-day option to purchase up to an additional 5.9 million shares or warrants to cover over-allotments.
Net proceeds are intended to support clinical development, working capital, and general corporate purposes. H.C. Wainwright & Co. is acting as exclusive placement agent.
Pipeline overview
Plus Therapeutics is a clinical-stage company developing targeted radiotherapeutics for rare and difficult-to-treat cancers.
• Rhenium (186Re) Obisbemeda, (REYOBIQ): Lead nanoliposome-delivery radiotherapy in trials for ReSPECT-LM Phase 1 trial for leptomeningeal metastases (LM), ReSPECT-GBM Phase 2 trial for recurrent glioblastoma, ReSPECT- Pediatric CNS Phase 1 trial for recurrent pediatric brain tumors.
• Rhenium-188 BMEDA: Preclinical radiotherapy candidate using rehenium-188 isotope with BMEDA chelator, aimed at systemic or locoregional solid tumor treatment.
• Nanoliposome Technology Platform: Proprietary encapsulation system enabling targeted delivery of rhenium isotopes with sustained local radiation and reduced systemic toxicity.
• Radioembolization via Alginate Microspheres: Preclinical program exploring alginate microspheres for intro-arterial radioembolization, particularly in liver and other solid tumors.
The company ended September 30, 2025, with cash and cash equivalents of $16.6 million.
PSTV has traded between $0.16 and $2.31 over the past year. The stock is currently trading at $0.27, down 40.69%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
