Plus Therapeutics Announces Share Repurchase Program
August 15 2022 - 7:00AM
Plus Therapeutics, Inc. (Nasdaq: PSTV), a clinical-stage
pharmaceutical company developing innovative, targeted
radiotherapeutics for rare and difficult-to-treat cancers, today
announced that its Board of Directors has approved a share
repurchase program with authorization to repurchase up to $2.0
million of the Company’s outstanding common stock. The Company
intends to fund any share repurchases with available cash.
“This share repurchase program reflects our
continued confidence in our long-term strategy and the strength of
the balance sheet and reinforces our commitment to deliver value to
shareholders,” said Marc H. Hedrick M.D., President and Chief
Executive Officer of Plus Therapeutics.
The timing and amount of any shares repurchased
will be determined based on the Company’s evaluation of market
conditions and other factors, including consent of the Company’s
lender. Repurchases may be made from time to time on the open
market over the next 12 months, in privately negotiated
transactions or by other means, including through the use of
trading plans intended to qualify under Rule 10b5-1. Repurchases
will be made in accordance with the rules and regulations
promulgated by the Securities and Exchange Commission. The Company
is not obligated to acquire any shares and the program may be
discontinued or suspended at any time.
About Plus Therapeutics,
Inc.
Plus Therapeutics, Inc. is a clinical-stage
pharmaceutical company focused on the development, manufacture, and
commercialization of complex and innovative treatments for patients
battling cancer and other life-threatening diseases. Our
proprietary nanotechnology platform is currently centered around
the enhanced delivery of a variety of drugs using novel liposomal
encapsulation technology. Liposomal encapsulation has been
extensively explored and undergone significant technical and
commercial advances since it was first developed. Our platform is
designed to facilitate new delivery approaches and/or formulations
of safe and effective, injectable drugs, potentially enhancing the
safety, efficacy and convenience for patients and healthcare
providers. More information may be found
at PlusTherapeutics.com and ReSPECT-Trials.com.
Cautionary Statement Regarding
Forward-Looking Statements
This press release contains statements that may
be deemed “forward-looking statements” within the meaning of U.S.
securities laws. All statements in this press release other than
statements of historical fact are forward-looking statements. These
forward-looking statements may be identified by future verbs, as
well as terms such as “designed to,” “will,” “can,” “potential,”
“focus,” “preparing,” “next steps,” “possibly,” and similar
expressions or the negatives thereof. Such statements are based
upon certain assumptions and assessments made by 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 regarding the Company’s intended
share repurchases, long-term strategy and expected shareholder
benefits.
The forward-looking statements included in this
press release are subject to a number of risks and uncertainties
that may cause actual results to differ materially from those
discussed in such forward-looking statements. These risks and
uncertainties include, but are not limited to: the Company’s actual
results may differ, including materially, from those anticipated in
these forward-looking statements as a result of various factors,
including, but not limited to, the following: difficulties in
assessing expected operating expenses and available cash on hand;
consent of the Company’s lender to the share repurchase program;
the early stage of the Company’s product candidates and therapies,
the results of the Company’s research and development activities,
including uncertainties relating to the clinical trials of its
product candidates and therapies; the Company’s liquidity and
capital resources and its ability to raise additional cash, the
outcome of the Company’s partnering/licensing efforts, risks
associated with laws or regulatory requirements applicable to it,
market conditions, product performance, litigation or potential
litigation, and competition within the regenerative medicine field,
among others; and additional risks described under the heading
“Risk Factors” in the Company’s Securities and Exchange Commission
filings, including 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.
Investor ContactPeter VozzoICR Westwicke(443)
377-4767Peter.Vozzo@westwicke.com
Media ContactTerri ClevengerICR Westwicke(203)
856-4326Terri.Clevenger@westwicke.com
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