Plus Therapeutics received a 180‑day extension from the Nasdaq Listing Qualifications Department to regain compliance with the exchange’s $1.00 minimum bid‑price requirement. The extension gives the company until May 11, 2026 to maintain a closing bid price of at least $1.00 for ten consecutive business days, after which failure to comply would trigger delisting.
The extension follows a prior compliance notice issued on November 12, 2025, after the company’s bid price fell below $1.00 for 30 consecutive business days as of May 16, 2025. The Nasdaq deadline had been extended previously to allow the company to address its bid‑price deficiency, and the new deadline reflects the exchange’s continued willingness to provide a final opportunity for compliance.
Financially, Plus Therapeutics reported a net loss of $4.42 million for the third quarter of 2025 and a nine‑month loss of $16.67 million. Cash and investments stood at $16.6 million as of September 30, 2025, giving the company a modest runway to pursue its clinical and commercial initiatives while it works to lift the bid price.
The company’s pipeline centers on targeted radiotherapeutics for central nervous system cancers, with lead programs in leptomeningeal metastases and recurrent glioblastoma. In addition, its CNSide diagnostic platform has secured a national coverage agreement with UnitedHealthcare, positioning the company to generate revenue once the platform is launched.
CEO Marc H. Hedrick emphasized that the recent capital raise and grant support enable the company to advance its therapeutic programs and commercialize CNSide. He noted that 2025 could be transformational as the company moves toward operational revenue generation, but also acknowledged the need to maintain listing status and the importance of meeting the bid‑price requirement.
The Nasdaq extension provides a critical window for management to implement strategies such as share buybacks, strategic partnerships, or a reverse stock split to lift the bid price. While the company remains in a challenging financial position, the extension signals that Nasdaq is willing to allow a final effort to preserve the listing, which is essential for the company’s ability to raise capital and continue its clinical development program.
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