Plus Therapeutics Announces Share Buyback Program

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AUSTIN, TX, August 15, 2022 (GLOBE NEWSWIRE) — More Therapeutics, Inc. (Nasdaq: PSTV), a clinical-stage pharmaceutical company developing innovative targeted radiation therapies for rare and hard-to-treat cancers, today announced that its Board of Directors has approved a stock repurchase program with clearance to redeem up to $2.0 million outstanding common shares of the Company. The Company intends to fund any share buybacks with available cash.

“This share buyback program reflects our continued confidence in our long-term strategy and the strength of our balance sheet and reinforces our commitment to creating shareholder value,” said Marc H. Hedrick MD., President and CEO of More Therapeutic.

The timing and amount of shares repurchased will be determined based on the Company’s assessment of market conditions and other factors, including the consent of the Company’s lender. Redemptions may be made from time to time in 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 in under Rule 10b5-1. Redemptions will be made in accordance with the rules and regulations promulgated by the Security and Exchange Commission. The Company is not obligated to acquire shares and the program may be interrupted or suspended at any time.

About More Therapeutics, Inc.

More Therapeutics, Inc. is a clinical-stage pharmaceutical company focused on the development, manufacturing and commercialization of complex and innovative treatments for patients battling cancer and other life-threatening diseases. Our proprietary nanotechnology platform is currently focused on improving delivery of a variety of drugs using novel liposomal encapsulation technology. Liposomal encapsulation has been widely explored and has been the subject of significant technical and commercial advances since its development. Our platform is designed to facilitate new delivery approaches and/or formulations of safe and effective injectable drugs, potentially improving safety, efficacy and convenience for patients and healthcare providers. More information can be found at PlusTherapeutics.com and ReSPECT-Trials.com.

Caution Regarding Forward-Looking Statements

This press release contains statements that may be deemed “forward-looking statements” within the meaning of WE securities laws. All statements in this press release other than statements of historical facts are forward-looking statements. These forward-looking statements can be identified by future verbs, as well as terms such as “designed for”, “will”, “may”, “potential”, “focus”, “prepare”, “next steps”, “possibly”, and similar expressions or their negative forms. These statements are based on 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 deem appropriate. These statements include, but are not limited to, statements regarding the Company’s planned share repurchases, its long-term strategy and expected benefits to shareholders.

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 due to a variety of factors, including, but not limited to , the following: assess expected operating expenses and available cash; agreement of the Company’s lender to the share buyback program; the early stage of the Company’s product candidates and therapies; the results of the Company’s research and development activities, including uncertainties related to clinical trials of its product candidates and therapies; the Company’s liquidity and capital resources and its ability to raise additional funds, the outcome of the Company’s partnership/licensing efforts, risks associated with laws or regulatory requirements applicable to it, market conditions, product performance, litigation or potential litigation, and competition within the field of regenerative medicine, among others; and the additional risks described under the heading “Risk Factors” in the Security and Exchange Commission filings, including in the Company’s annual and quarterly reports. Future events may occur 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 forward-looking statements to reflect events, trends or circumstances after the date on which they are made, unless the Company has an obligation under WE federal securities laws to do so.

Contact InvestorPierre VozzoICR Westwicke
(443) 377-4767
Peter.Vozzo@westwicke.com

Media ContactTerri ClevengerICR Westwicke
(203) 856-4326
Terri.Clevenger@westwicke.com

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Source: More Therapeutics Inc.

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