Plus Therapeutics Announces Reverse Stock Split
Rhea-AI Summary
Plus Therapeutics (NASDAQ: PSTV) announced a 1-for-25 reverse stock split effective 12:01 a.m. ET on April 2, 2026, to increase its per-share trading price and comply with Nasdaq's $1.00 minimum bid requirement.
Outstanding shares will be reduced from ~171,550,698 to ~6,862,027, a new CUSIP 72941H806 will be assigned, fractional shares will be paid in cash, and equity awards and warrants will be adjusted.
Positive
- Reverse split aims to meet Nasdaq's $1.00 minimum bid requirement
- Outstanding shares reduced from ~171.6M to ~6.86M
- Post-split trading continues under ticker PSTV
Negative
- Reverse split may signal prior sustained sub-$1.00 trading price
- Cash payments for fractional shares may dilute timing/value for small holders
News Market Reaction – PSTV
On the day this news was published, PSTV declined 24.23%, reflecting a significant negative market reaction. Argus tracked a trough of -35.0% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $12M from the company's valuation, bringing the market cap to $36.81M at that time. Trading volume was above average at 1.5x the daily average, suggesting increased trading activity.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PSTV showed weakness pre-announcement (-6.7%), while peers were mixed: RADX +3.33%, BRNS +5.57%, VRCA +7.45%, BCAB -1.93%, RNXT -5.31%. Momentum scanner flags TPST and ACRV up, BCAB up, and RNXT down, indicating stock-specific dynamics rather than a unified sector move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 26 | Board appointment | Positive | -1.2% | New independent director with extensive diagnostics leadership experience joined board. |
| Mar 19 | Health economics data | Positive | +2.2% | ISPOR analysis suggesting CNSide may reduce LM healthcare costs by about 40%. |
| Mar 12 | Results and milestones | Negative | -15.2% | 2025 results with wider net loss despite stronger cash and funding progress. |
| Feb 25 | New CPT code | Positive | +7.6% | AMA approval of new Category III CPT code for REYOBIQ delivery procedures. |
| Jan 22 | Business update & financing | Negative | -2.3% | Clinical and commercial update paired with an upsized $15M equity offering. |
Recent fundamentally positive or strategic announcements have produced mixed reactions, with several instances of negative price moves on news that highlighted progress but also capital needs or higher losses.
Over the last few months, Plus Therapeutics announced multiple CNS cancer program and CNSide commercialization updates. On Jan 22, a business update and upsized $15 million offering saw shares fall 2.33%. Full-year 2025 results and 2026 milestones on Mar 12 coincided with a 15.17% drop despite balance sheet strengthening. A new CPT code on Feb 25 led to a 7.57% gain, and an ISPOR cost-savings analysis on Mar 19 produced a 2.16% rise. The board appointment on Mar 26 saw a modest 1.22% decline. The reverse split follows this backdrop of strategic progress but volatile reception.
Market Pulse Summary
The stock dropped -24.2% in the session following this news. A negative reaction despite the technical nature of a 1-for-25 reverse split would fit a pattern where balance sheet or structural steps, including past equity offerings, coincided with weaker prices. Shares already traded well below the 0.46 200-day MA at about 0.2146 pre-announcement and sat roughly 84.22% under the 52-week high. Such a backdrop, combined with prior downside moves after results and financing news, could have amplified pressure around this capital-structure change.
Key Terms
reverse stock split financial
cusip financial
par value financial
equity awards financial
warrants financial
transfer agent financial
book-entry form technical
AI-generated analysis. Not financial advice.
HOUSTON, March 31, 2026 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (the “Company”), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system cancers, today announced that the Company’s Board of Directors has approved a reverse stock split of its shares of common stock at a ratio of 1-for-25. The reverse stock split will become effective at 12:01 a.m. Eastern Time on April 2, 2026, and the Company’s common stock will open for trading on The Nasdaq Capital Market on a post-split basis on April 2, 2026 under the Company’s existing trading symbol, “PSTV.” At such time, the Company’s common stock will also commence trading with a new CUSIP number, 72941H806.
The reverse stock split is being implemented to increase the per share trading price of the Company’s common stock for the purpose of ensuring a share price high enough to comply with the minimum
At the effective time of the reverse stock split, every twenty-five (25) shares of Plus Therapeutics common stock issued and outstanding will be combined into one (1) share of common stock issued and outstanding, with no change to the par value of
The Company has retained its transfer agent, Broadridge Financial Services, Inc. (“Broadridge”), to act as its exchange agent for the reverse stock split. Stockholders with shares held in certificate form will receive from Broadridge instructions regarding the exchange of their certificates. Stockholders that hold shares in book-entry form or hold their shares in brokerage accounts are not required to take any action and will see the impact of the reverse stock split reflected in their accounts, subject to brokers’ particular processes. Beneficial holders of Plus Therapeutics common stock are encouraged to contact their bank, broker, custodian or other nominee with questions regarding procedures for processing the reverse stock split.
About Plus Therapeutics
Headquartered in Houston, Texas, Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes. Combining image-guided local beta radiation and targeted drug delivery approaches, the Company is advancing a pipeline of product candidates with lead programs in leptomeningeal metastases (LM) and recurrent glioblastoma (GBM). The Company has built a supply chain through strategic partnerships that enable the development, manufacturing, and future potential commercialization of its products. For more information, visit https://plustherapeutics.com/.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that may be deemed “forward-looking statements” within the meaning of U.S. securities laws. All statements in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements may be identified by future verbs, as well as terms such as “designed to,” “will,” “can,” “potential,” “focus,” “preparing,” “next steps,” “possibly,” and similar expressions or the negatives thereof. Such statements are based upon certain assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These statements include, without limitation, statements regarding the implementation and proposed timing of the reverse stock split, the commencement of trading of the Company’s post-split common stock, the impact of the reverse stock split on the Company’s securityholders, including any adjustments that may result from the treatment of fractional shares, the potential for the Company to regain compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market and the expected number of shares of common stock to be issued and outstanding following the reverse stock split.
The forward-looking statements included in this press release are subject to a number of risks and uncertainties that may cause actual results to differ materially from those discussed in such forward-looking statements. These risks and uncertainties include, but are not limited to: risks and uncertainties related to the reverse stock split having the desired effect, the Company’s ability to regain compliance with Nasdaq’s listing requirements, the potential de-listing of the Company’s securities on Nasdaq, and additional risks described under the heading “Risk Factors” in the Company’s Securities and Exchange Commission filings, including in the Company’s annual and quarterly reports. There may be events in the future that the Company is unable to predict, or over which it has no control, and its business, financial condition, results of operations and prospects may change in the future. The Company assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the Company has an obligation under U.S. federal securities laws to do so.
Investor Contact
CORE IR
investor@plustherapeutics.com
