We recently published a list of 10 Micro-, Small-Cap Firms Dominate Thursday’s Gains. In this article, we are going to take a look at where Plus Therapeutics Inc. (NASDAQ:PSTV) stands against other micro-, small-cap firms that dominate Thursday’s gains.
The stock market edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.
The tech-heavy Nasdaq decreased by 0.33 percent, the S&P 500 declined by 0.22 percent, and the Dow Jones dipped by 0.03 percent.
On Thursday, investors immediately booked profits following the lack of fresh catalysts to further boost buying appetite.
However, 10 companies under the micro- to small-cap sectors noticeably defied market pessimism, having surged by double to triple digits. In this article, we have identified Thursday’s 10 best performers and detailed the reasons behind their gains.
We classify micro-cap companies as those between $50 million and $300 million in market capitalization, while small-cap firms are those with $300 million and $2 billion in market capitalization.
A doctor examining a patient’s x-ray in a laboratory, showing the capabilities of the company’s oncology therapies.
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.
Overall, PSTV ranks 2nd on our list of micro-, small-cap firms that dominate Thursday’s gains. While we acknowledge the potential of PSTV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as PSTV but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
