Plus Therapeutics Regains Compliance with Applicable Nasdaq Listing Criteria

Rhea-AI Summary

Plus Therapeutics (Nasdaq: PSTV), a clinical-stage pharmaceutical company focused on targeted radiotherapeutics for CNS cancers, has regained compliance with Nasdaq listing requirements. The company received confirmation from Nasdaq on August 22, 2025, verifying compliance with two key criteria: maintaining a market value of listed securities above $35 million and stockholders' equity exceeding $2.5 million.

As a result, PSTV has been granted an extended grace period until November 12, 2025, to meet the $1.00 bid price requirement, replacing the previous September 8 deadline. The company remains under panel monitoring for the Equity Standard through August 22, 2026.

Positive

• Compliance achieved with two Nasdaq listing criteria: MVLS Standard ($35M) and Equity Standard ($2.5M)
• Extended deadline granted until November 12, 2025 for meeting $1.00 bid price requirement
• No immediate need for reverse stock split to meet listing requirements

Negative

• Company remains under one-year panel monitoring through August 22, 2026
• Risk of immediate delisting if Equity Standard compliance is lost during monitoring period
• Still needs to meet $1.00 bid price requirement by November 2025

Insights

Securities Regulation Specialist

Plus Therapeutics regains Nasdaq compliance with two key standards, buying more time to meet the $1.00 bid price requirement.

Plus Therapeutics has successfully navigated a critical regulatory hurdle by regaining compliance with Nasdaq's listing requirements. The company now satisfies two alternative criteria under Nasdaq Listing Rule 5550(b): the Market Value of Listed Securities (MVLS) standard requiring at least $35 million in market value, and the Stockholders' Equity threshold requiring at least $2.5 million.

This compliance achievement provides substantial breathing room for the company, extending their deadline to meet the $1.00 bid price requirement from September 8, 2025, to November 12, 2025. This additional time is particularly significant as it eliminates the immediate need for a reverse stock split—a move that typically dilutes shareholder value and is often viewed negatively by investors.

However, investors should note the company remains under heightened regulatory scrutiny. Plus Therapeutics faces a one-year monitoring period through August 22, 2026, specifically for the Equity Standard compliance. If the company falls below this threshold during the monitoring period and isn't simultaneously meeting the MVLS standard, Nasdaq would issue a delisting determination with limited appeal options.

For a clinical-stage pharmaceutical company like Plus Therapeutics, maintaining Nasdaq listing is crucial for access to capital markets and investor confidence, especially as they develop targeted radiotherapeutics for CNS cancers—a capital-intensive endeavor with long development timelines.

No near-term Reverse Stock Split required to meet Bid Price Rule

HOUSTON, Aug. 26, 2025 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers, today announced that it received a letter (the “Letter”) from Nasdaq on August 22, 2025, confirming its compliance with Nasdaq Listing Rule 5550(b). Specifically, the Letter confirms that the Company is in compliance with both (1) the Market Value of Listing Securities (“MVLS”) standard under 5550(b)(2), which requires certain companies to maintain a market value of listed securities of at least $35 million (the “MVLS Standard”), as well as compliance with (2) the alternative stockholders’ equity threshold under 5550(b)(1), which requires certain companies to maintain stockholders’ equity of at least $2.5 million (the “Equity Standard”). Accordingly, the Company now satisfies two alternative criteria under Nasdaq Listing Rule 5550.

As a result of such compliance, Nasdaq has permitted the Company the remainder of the previously announced grace period to regain compliance with the $1.00 bid price rule under Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”), through November 12, 2025. Nasdaq previously required that the Company remedy the bid price deficiency by September 8, 2025, a deadline that no longer applies.

The Letter also provides that, solely with respect to the Equity Standard, the Company remains subject to a one-year panel monitoring period, through August 22, 2026. If, within that one-year monitoring period, Nasdaq’s Listing Qualifications Staff (the “Staff”) determines that the Company no longer satisfies the Equity Standard (and the Company is not then in compliance with one of the alternative standards under Rule 5550(b), such as the MVLS Standard), the Company will not be permitted to provide the Staff with a plan of compliance and the Staff is not permitted to grant additional time to regain compliance with the Equity Standard nor will the Company be afforded an applicable cure or compliance period. Instead, the Staff will issue a delist determination letter, and the Company will have an opportunity to request a new hearing before the Nasdaq Hearings Panel, which request would stay any further action by the Staff pending the ultimate outcome of the hearing.

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/.

Forward-Looking Statements

This press release contains statements that may be deemed “forward-looking statements” within the meaning of U.S. securities laws, including statements regarding the proposed timing of any reverse stock split and the Company’s ability to maintain compliance with Nasdaq’s continued listing rules. 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 “expect,” “will,” “potential,” “anticipating,” “planning,” 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.

The forward-looking statements included in this press release could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: the price and volatility of the Company’s common stock; the Company’s liquidity and capital resources and its ability to raise additional cash; market conditions, product performance, litigation or potential litigation; and, competition within the cancer diagnostics and therapeutics field. This list of risks, uncertainties, and other factors is not complete. The Company discusses some of these matters more fully, as well as certain risk factors that could affect the Company’s business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2024, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements the Company makes may turn out to be wrong and can be affected by inaccurate assumptions the Company might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. 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.

Contact Information

CORE IR
investor@plustherapeutics.com

FAQ

What Nasdaq compliance requirements has Plus Therapeutics (PSTV) met in August 2025?

Plus Therapeutics has met two key Nasdaq requirements: maintaining a market value of listed securities above $35 million and stockholders' equity exceeding $2.5 million.

When does Plus Therapeutics (PSTV) need to meet the $1.00 bid price requirement?

PSTV has until November 12, 2025 to meet the $1.00 bid price requirement, extended from the previous September 8 deadline.

What happens if Plus Therapeutics (PSTV) fails to maintain the Equity Standard during the monitoring period?

If PSTV fails to maintain the Equity Standard through August 22, 2026, and isn't compliant with alternative standards, Nasdaq will issue a delist determination letter, though the company can request a new hearing.

Does Plus Therapeutics (PSTV) need to implement a reverse stock split?

No, PSTV does not need an immediate reverse stock split as they've been granted an extended period until November 12, 2025 to meet the bid price requirement.

What is Plus Therapeutics' (PSTV) main business focus?

Plus Therapeutics is a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers.