Plus Therapeutics Shares Face Critical Test Amid Clinical Progress

While Plus Therapeutics continues to demonstrate meaningful clinical advancements with its lead oncology candidate, its stock performance tells a decidedly different story. The company’s shares are mired in a severe downtrend, having registered their third consecutive day of losses. Thursday’s trading session alone saw the equity decline by 7.55 percent, contributing to a brutal cumulative loss of 36.35 percent over the past ten trading days. This downward pressure was accompanied by a notable decrease in trading volume.

The technical picture offers no near-term relief. Both short and long-term moving averages are generating sell signals. The stock’s technical rating was downgraded to “Sell” following a pronounced period of weakness that began with a pivot top sell signal on August 8th. Since that signal emerged, the share price has collapsed by 39.17 percent.

Clinical Data Provides a Silver Lining

In stark contrast to its market performance, the company recently announced highly encouraging results from its ReSPECT-LM Phase 1 clinical trial for REYOBIQ™, its investigational treatment for leptomeningeal metastases, a type of central nervous system tumor. The data, presented on August 18th, revealed a clinical response rate exceeding 75 percent.

Specific results showed radiographic and clinical response rates of 76 percent and 87 percent, respectively, through day 112. Notably, the reduction of tumor cells in the cerebrospinal fluid reached as high as 100 percent in a number of patients. The median overall survival was reported at nine months, a figure that significantly surpasses the documented literature average of approximately four months for this condition. Based on these outcomes, a dosage of 44.1 mCi has been selected for the subsequent Phase 2 study.

Should investors sell immediately? Or is it worth buying Plus Therapeutics?

Nasdaq Listing Compliance Hangs in the Balance

Amid the share price turmoil, Plus Therapeutics has achieved a partial victory in its effort to maintain its Nasdaq listing. As of June 30th, the company’s stockholders’ equity stood at $3 million, which satisfies the exchange’s minimum requirement. Formal confirmation from Nasdaq is still pending.

However, a far more significant challenge remains: the share price must close at or above the $1 threshold for a minimum of ten consecutive trading days. The company is operating under an extension period that expires on September 8th. A reverse stock split now appears to be off the table for meeting this deadline, as the cutoff for making the necessary announcement (August 15th) has already passed. The decision to forgo this option suggests management anticipates positive market movements to naturally lift the share price.

Commercial Diagnostic Platform Nears Launch

Beyond its therapeutic pipeline, Plus Therapeutics is advancing the commercial rollout of its CNSide diagnostic platform. This system is designed for the diagnosis and monitoring of central nervous system metastases. The company is targeting the second half of 2025 for an initial commercial launch in Texas.

The initial availability of the platform is planned at leading cancer centers, including MD Anderson Cancer Center and Baylor Scott & White Health. To facilitate this launch, a central testing facility has already been established in Houston.