Plus Therapeutics Inc. (NASDAQ:PSTV) stock is down during trading session on Wednesday following the company’s announcement of a public offering.
The stock’s decline comes as the broader markets experienced a mixed session, with major indices like the S&P 500 and Nasdaq both closing lower on the previous trading day.
The company priced its underwritten public offering at $0.38 per unit, consisting of one share of common stock and one warrant, aiming to raise approximately $15 million before expenses.
PSTV stock closed at $0.47 on Tuesday.
This offering is expected to close on January 15, 2026, and the proceeds will be used for working capital and general corporate purposes.
Plus Therapeutics is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system.
The company is advancing a pipeline of product candidates with lead programs in leptomeningeal metastases and recurrent glioblastoma.
In January, Plus Therapeutics completed a Type B meeting with the U.S. Food and Drug Administration (FDA) on the next steps for the Reyobiq pivotal trial strategy for leptomeningeal metastases.
Plus intends to incorporate the FDA’s feedback in the current dose optimization trial and seek alignment with the FDA on a revised protocol, likely later in 2026.
In September 2025, CNSide Diagnostics, a wholly-owned subsidiary of Plus Therapeutics, signed a national agreement with UnitedHealthcare insurance company, a unit of UnitedHealth Group Inc. (NYSE:UNH).
The agreement covers over 51 million people throughout the United States, providing the CNSide Cerebrospinal Fluid Tumor Cell Enumeration laboratory-developed test.
PSTV’s Bearish Trend: 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, indicating a bearish trend.
Over the past 12 months, the stock has decreased by 59.82% and is positioned closer to its 52-week lows than highs.
The RSI stands at 36.82, suggesting neutral momentum, while the MACD is below its signal line, indicating bearish pressure on the stock. The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Resistance: $0.50
- Key Support: $0.25
PSTV Price Action: Plus Therapeutics shares were down 37.69% at $0.29 during premarket trading on Wednesday, according to Benzinga Pro data.
Photo: Gorodenkoff via Shutterstock
