Plus Therapeutics, Inc. Announces Nasdaq Ticker Symbol Changes and Reverse Stock Split
July 29 2019 - 7:30AM
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”) today
announced that the Company has officially changed its name from
“Cytori Therapeutics, Inc.” to “Plus Therapeutics, Inc.” and the
ticker symbol for the Company’s common stock on the Nasdaq Capital
Market will change from “CYTX” to “PSTV”. The ticker symbol for the
Company’s Series S Warrants will change from “CYTXZ” to “PSTVZ”.
Trading under the new ticker symbols will begin at the open of the
market on Monday, July 29, 2019. In addition, a new CUSIP number,
72941H103, has been assigned to the Company’s common stock and the
new CUSIP number assigned to the Company’s Series S Warrants is
72941H111.
No actions are needed from Plus Therapeutics’ current
shareholders relative to the ticker symbol or CUSIP changes.
Additionally, the Company intends to effect a 1-for-50 reverse
stock split to become effective on August 5, 2019, and the
Company’s common stock is expected to commence trading on a
post-split basis beginning on August 6, 2019. The Company received
the requisite stockholder approval for the reverse stock split on
July 11, 2019. The new CUSIP number for the Company’s common stock
after the reverse stock split will be 72941H400.
The reverse stock split will automatically combine every 50
shares of the Company’s common stock into one issued and
outstanding share without any change in the par value of the
shares. Following the reverse stock split, the number of
outstanding shares of the Company’s common stock is anticipated to
be proportionally reduced from approximately 22.2 million to
approximately 0.4 million.
No fractional shares will be issued in connection with the
reverse stock split. Any fractional shares of the Company’s common
stock that would have otherwise resulted from the reverse stock
split will be rounded up to the nearest whole share. Outstanding
equity awards and the shares available for future grant under the
Company’s Amended and Restated 2004 Equity Incentive Plan, 2011
Employee Stock Purchase Plan, 2014 Amended and Restated Equity
Incentive Plan and 2015 New Employee Incentive Plan will be
proportionately reduced (rounded down to the nearest whole share),
and the exercise prices of outstanding equity awards will be
proportionately increased (rounded up to the nearest whole cent) to
give effect to the reverse stock split. The Company’s common stock
will continue to trade on a post-split basis under the trading
symbol “PSTV”.
As previously announced, the Company is required to evidence
compliance with Nasdaq’s minimum bid or closing price requirement
by August 26, 2019. Although the Company expects that the reverse
stock split will enable the Company to comply with the Nasdaq
listing and minimum bid price requirement, there can be no
assurance that the Company will be able to regain such compliance.
Delisting from the Nasdaq Capital Market could have a material
adverse effect on the Company’s business and on the trading of its
common stock.
About Plus Therapeutics, Inc.
Plus Therapeutics is a clinical-stage pharmaceutical company
focused on making a positive impact on patients’ lives and adding
value to the healthcare system. We are a Nasdaq-listed company with
our company headquarters located in Austin, TX. We also have a
manufacturing facility in San Antonio, TX and a satellite office in
San Diego, CA.
The lead product candidate in our pipeline, DocePLUS, is being
developed in the U.S. by a dedicated and energetic team of
biologists, chemists, engineers, and other professionals. This
diverse and experienced team is using our proprietary and versatile
nanotechnology platform in an effort to reformulate and improve
conventional, workhorse chemotherapeutics to provide meaningful
benefits to patients and healthcare providers. The platform also
serves as the foundation and affords us the opportunity in the
future to develop additional drugs for oncology and other
therapeutic areas.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements that may be
deemed “forward-looking statements” within the meaning of U.S.
securities laws. All statements, other than statements of
historical fact, that address activities, events or developments
that we intend, expect, project, believe or anticipate and similar
expressions or future conditional verbs such as will, should,
would, could or may occur in the future are forward-looking
statements. Such statements are based upon certain assumptions and
assessments made by our management in light of their experience and
their perception of historical trends, current conditions, expected
future developments and other factors they believe to be
appropriate. These statements include, without limitation,
statements about the timing of the commencement of trading under
the Company’s new ticker symbol, the timing of the Company’s
reverse stock split, the ability of the Company to comply with
Nasdaq’s minimum bid or closing price requirement, and the
Company’s opportunity to develop additional drugs for oncology and
other therapeutic areas. The forward-looking statements included in
this press release are subject to a number of additional material
risks and uncertainties, including but not limited to the risks
described under the “Risk Factors” in the company’s Securities and
Exchange Commission filings, included in the company’s annual and
quarterly reports. There may be events in the future that the
company is unable to predict, or over which it has no control, and
its business, financial condition, results of operations and
prospects may change in the future. The company assumes no
responsibility to update or revise any forward-looking statements
to reflect events, trends or circumstances after the date they are
made unless the company has an obligation under U.S. Federal
securities laws to do so.
Plus Therapeutics, Inc.Russ HavranekVP –
Marketing, Portfolio Management, Investor RelationsPhone:
+1.619.333.4150Email: ir@plustherapeutics.comWebsite: plustherapeutics.com
Source: Plus Therapeutics, Inc.
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