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Securities law

Plus Therapeutics, Inc. Faces Delisting Threat from Nasdaq

Strategic Insights

— 2 min read

Plus Therapeutics, Inc. received a notification from the Nasdaq Listing Qualifications Department on June 3, 2025, stating that the Company had failed to comply with the Minimum Stockholders' Equity Requirement. Due to the Company's reported stockholders' equity (deficit) of ($23,641,000) in its Quarterly Report on Form 10-Q for the period ended March 31, 2025, the Company did not satisfy the Minimum Stockholders' Equity Requirement pursuant to Listing Rule 5550(b)(1). The Company has been informed that hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request, and there can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to demonstrate compliance with Nasdaq Listing Rule 5550(b)(1) within any additional compliance period that may be granted by the Panel.

Key Takeaways:

  • The Nasdaq Listing Qualifications Department notified Plus Therapeutics, Inc. that the Company had failed to comply with the Minimum Stockholders' Equity Requirement on June 3, 2025.
  • The Company's reported stockholders' equity (deficit) of ($23,641,000) in its Quarterly Report on Form 10-Q for the period ended March 31, 2025, was the reason for the delisting notice.
  • Plus Therapeutics, Inc. plans to request a hearing before the Panel to appeal the delisting notice and address all outstanding matters, including compliance with the Minimum Stockholders' Equity Requirement.
  • The Company has been informed that hearings are typically scheduled to occur approximately 30-45 days after the date of the hearing request.
  • There can be no assurance that the Panel will grant the Company's request for continued listing or that the Company will be able to demonstrate compliance with Nasdaq Listing Rule 5550(b)(1) within any additional compliance period that may be granted by the Panel.
  • The suspension of trading of the Company's common stock will be stayed and the common stock will continue to trade on the Nasdaq Capital Market until the hearing process has concluded and the Panel issues a written decision.
  • The Company's President and Chief Executive Officer, Marc H. Hedrick, M.D., signed the Form 8-K and stated that the Company has been informed that forward-looking statements in the report speak only as of the date on which they are made and may not be updated except as required by applicable law.

Statistics:

  • The Company's reported stockholders' equity (deficit) for the period ended March 31, 2025, was ($23,641,000).
  • The Company's common stock will continue to trade on the Nasdaq Capital Market until the hearing process has concluded and the Panel issues a written decision.
  • The Panel will typically schedule hearings approximately 30-45 days after the date of the hearing request.
  • The Company has 7 days (from June 3, 2025, to June 10, 2025) to request a hearing with the Panel.

Sources:

  • United States Securities and Exchange Commission. (2025, June 6). PLUS THERAPEUTICS, INC. [Form 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934].
  • Nasdaq Listing Rule 5550(b)(1).

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