Plus Therapeutics, Inc. (NASDAQ: PSTV) has announced that its board of directors has approved a share repurchase program with authorization to repurchase up to USD 2 Million of the company’s outstanding common stock. The company plans 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 time period and amount of shares repurchased shall be determined based on the Company’s evaluation of market conditions and other factors which include consent of the company’s lender. Repurchases will be made on the open market over the next 12 months in privately negotiated transactions or by other means.
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.