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Plus Therapeutics reported that the U.S. FDA has granted Orphan Drug Designation to its radiotherapeutic candidate REYOBIQ (rhenium Re186 obisbemeda) for treating pediatric malignant gliomas, a group of rare, aggressive brain tumors with limited options and poor outcomes.
The designation, which also encompasses pediatric ependymoma, offers potential benefits such as seven years of market exclusivity upon approval, tax credits for clinical trial costs, and certain fee exemptions. It builds on prior regulatory and clinical progress for REYOBIQ in leptomeningeal metastases and pediatric brain cancers, where the drug is being studied in multiple ongoing ReSPECT trials.
Plus Therapeutics, Inc. has implemented a 1-for-25 reverse stock split of its common stock to help meet the Nasdaq Capital Market’s minimum $1.00 bid price requirement for continued listing. The split became effective at 12:01 a.m. Eastern time on April 2, 2026.
Every 25 pre-split shares were combined into one share, reducing issued and outstanding common stock from approximately 171,550,698 shares to approximately 6,862,027 shares, with no change to par value or voting rights. No fractional shares will be issued; eligible holders will receive cash in lieu of fractions. Outstanding equity awards and warrants, as well as shares reserved under the equity plan, are being adjusted proportionately. The stock continues to trade on Nasdaq under the symbol PSTV with a new CUSIP number 72941H806.
PLUS THERAPEUTICS Chief Financial Officer Andrew John Hugh MacIntyre Sims acquired shares through RSU vesting. On April 1, 2026, he exercised Restricted Stock Units to receive a total of 67,452 shares of Common Stock in two transactions of 38,323 and 29,129 shares at an exercise price of $0.00 per share.
Following these transactions, his direct holdings of Common Stock increased to 173,913 shares. Footnotes state that each Restricted Stock Unit represents a contingent right to receive one share of Common Stock and that the RSU grants vest in twelve substantially equal quarterly installments beginning on specified dates.
PLUS THERAPEUTICS, INC. Chief Executive Officer Marc H. Hedrick exercised restricted stock units into common shares in a compensation-related transaction. He acquired a total of 361,313 shares of Common Stock on April 1, 2026 through derivative exercises at a per-share price of $0.00.
The filing shows two RSU conversions of 159,681 and 201,632 units, each RSU representing a contingent right to one common share. Following these transactions, Hedrick directly holds 701,100 shares of Common Stock. The transactions involve no open-market purchases or sales and reflect the vesting and settlement of prior equity awards.
Plus Therapeutics, Inc. is asking stockholders to vote at its 2026 virtual annual meeting on May 14, 2026. Stockholders will elect six directors for one-year terms, ratify CBIZ CPAs, P.C. as auditor, cast a non-binding advisory vote on executive pay, and approve a sixth amendment and restatement of the 2020 Stock Incentive Plan.
The proxy also describes an oncology-focused strategy built around its REYOBIQ radiotherapeutic program for central nervous system cancers, scaling of the CNSide CSF diagnostic platform with a goal of reaching at least 150 million covered lives and potential business-unit breakeven by 2027, and broader use of advanced data analytics to improve efficiency and control costs.
PLUS THERAPEUTICS, INC. director Ronald Asbury Andrews filed an initial Form 3 reporting his beneficial ownership in the company. The filing shows he directly holds 0 shares of Common Stock as of the reported date, establishing a baseline ownership position for future insider reports.
Plus Therapeutics announced a board change, appointing Ronald A. Andrews as a director effective March 20, 2026, to fill the vacancy created by the resignation of Dr. Robert Lenk. The board also determined that Andrews qualifies as an independent director under Nasdaq rules and named him to the Nominating and Corporate Governance Committee.
Andrews brings more than 35 years of leadership experience in diagnostics and molecular diagnostics, including prior CEO roles and multiple board positions. He will receive standard non-employee director compensation and is expected to sign the company’s standard director indemnification agreement. Dr. Lenk’s resignation was not due to any disagreement regarding the company’s operations, policies, or practices.
Plus Therapeutics, Inc. plans to hold its 2026 Annual Meeting of Stockholders on May 14, 2026, at 9:00 a.m. Eastern Time, as a virtual-only meeting by remote communication. Stockholders of record at the close of business on March 18, 2026 are currently expected to be entitled to vote.
The company set new deadlines because the 2026 meeting date is more than 30 days before the prior year’s meeting. Stockholder proposals under Rule 14a-8 and advance-notice bylaw nominations or other business must be received by the Corporate Secretary by March 22, 2026, including notices required under the universal proxy rules.
Plus Therapeutics is a U.S. healthcare company focused on precision diagnostics and targeted radiopharmaceuticals for central nervous system cancers. Its lead drug, rhenium (186Re) obisbemeda, is being tested in recurrent glioblastoma, leptomeningeal metastases and pediatric brain cancers, with Fast Track and multiple orphan drug designations.
The company is also commercializing its CNSide cerebrospinal fluid assay platform through wholly owned CNSide Diagnostics. The CNSide Test was reintroduced in August 2025, supported by a CLIA-accredited lab in Houston and national agreements with UnitedHealthcare and Humana that expand access to more than 67 million covered lives.
Development is heavily supported by non‑dilutive funding, including a CPRIT grant of up to $17.6 million for leptomeningeal metastases (about $15.9 million received by December 31, 2025), an active $3.0 million NIH/NCI award for glioblastoma and a $3.0 million Department of Defense award for pediatric brain cancer. As of March 10, 2026, there were 171,550,698 shares of common stock outstanding.