10 Micro-, Small-Cap Firms Dominate Thursday’s Gains

2. Plus Therapeutics Inc. (NASDAQ:PSTV)

Plus Therapeutics surged by 170.06 percent on Thursday to close at $1.38 apiece as investors cheered news that it received the conditional approval of the Food and Drug Administration (FDA) for its proposed brand name for its potential nervous system cancer treatment.

In a statement, PSTV said the potential treatment would be called REYOBIQ for the treatment of nervous system cancers Leptomeningeal Metastases (LM) and Recurrent Glioblastoma (GBM).

REYOBIQ is a novel injectable radiotherapy specifically formulated to deliver direct targeted high-dose radiation in CNS tumors in a safe, effective, and convenient manner to optimize patient outcomes.

It is said to have the potential to reduce off-target risks and improve outcomes for CNS cancer patients, versus currently approved therapies, with a more targeted and potent radiation dose.

Following the news, the company’s stock price was propelled back to the $1 level, which is the minimum bid price requirement to remain listed on the stock exchange.

Companies are required to maintain their minimum bid price above the $1 price for 30 consecutive days, otherwise, they could face a potential delisting.