Plus Therapeutics Inc. (NASDAQ:PSTV) has announced a public offering intended to raise approximately $15 million before expenses. The company priced its underwritten offering at $0.38 per unit, which includes one share of common stock and one warrant. Following this announcement, the company’s stock declined significantly, closing at $0.29 during premarket trading on Wednesday, representing a drop of 37.69% from the previous day’s closing price of $0.47.
The offering is expected to close on January 15, 2026, and the funds raised will be allocated for working capital and general corporate purposes. Plus Therapeutics, a clinical-stage pharmaceutical firm, specializes in developing targeted radiotherapeutics aimed at treating challenging cancers of the central nervous system. The company is making strides with a pipeline of product candidates, focusing on conditions such as leptomeningeal metastases and recurrent glioblastoma.
In January, Plus Therapeutics engaged in a Type B meeting with the U.S. Food and Drug Administration (FDA) to discuss the Reyobiq pivotal trial strategy for leptomeningeal metastases. The company aims to integrate the FDA’s feedback into its ongoing dose optimization trial and will likely seek alignment on a revised protocol later in 2026.
Additionally, in September 2025, CNSide Diagnostics, a wholly-owned subsidiary of Plus Therapeutics, established a national agreement with UnitedHealthcare, a division of UnitedHealth Group Inc. (NYSE:UNH). This agreement is significant, as it covers over 51 million people across the United States and includes the CNSide Cerebrospinal Fluid Tumor Cell Enumeration laboratory-developed test.
PSTV’s Market Performance and Technical Indicators
Currently, shares of Plus Therapeutics are trading 47.7% below their 20-day simple moving average (SMA) and 48.3% below their 50-day SMA, highlighting a bearish trend in the market. Over the past year, the stock has experienced a substantial decline of 59.82% and is now closer to its 52-week lows than its highs.
Technical indicators reflect mixed momentum; the relative strength index (RSI) stands at 36.82, indicating neutral momentum, while the moving average convergence divergence (MACD) is positioned below its signal line, suggesting continued bearish pressure on the stock. The combination of a neutral RSI and bearish MACD further emphasizes the uncertain market conditions facing Plus Therapeutics.
Investors are keeping a close watch on key resistance and support levels, with resistance marked at $0.50 and support at $0.25. As the company moves forward with its strategic initiatives, market responses will likely continue to fluctuate based on developments in its clinical programs and financial health.
The coming weeks will be pivotal for Plus Therapeutics as it navigates this challenging financial landscape while pursuing advancements in treatment for complex cancer conditions.
