Maxim lowered the firm’s price target on Plus Therapeutics (PSTV) to $3 from $4 and keeps a Buy rating on the shares. The firm is updating its model to reflect the company’s equity dilution but also notes that its restructuring is a positive, transforming a highly dilutive equity financing into a less dilutive financing that can be thought of as 35M prefunded warrants plus $15M in debt, the analyst tells investors in a research note.
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