PDS Biotechnology Corp

PDS Biotechnology Corporation announced a PIPE financing of up to $22.55 million, led by Nant Capital, with participation from other investors. The financing includes an initial closing of approximately $11.55 million and a contingent milestone closing of $11 million upon FDA submission of a Phase 3 protocol for PDS0301. Dr. Patrick Soon-Shiong will join the company's Board of Directors. The proceeds will be used for working capital and advancing clinical programs. Additionally, NantWorks has secured a one-year exclusive negotiation period for a license to PDS0101.

PDS Biotechnology Corporation has entered into a First Amendment to Promissory Note with YA II PN, Ltd., modifying the terms of a $6,000,000 note. Key changes include weekly remittance notices for at-the-market offering proceeds, an extended cure period for Nasdaq listing deficiencies to 180 days, and a requirement to use 100% of net proceeds from other equity financings for mandatory redemption. The amendment becomes effective upon execution and the company meeting its September 14, 2026 payment obligation.

PDS Biotechnology reported a net loss of $(9.75) million for the second quarter of 2026, with stockholders' equity turning negative to $(3.58) million. The company's cash and cash equivalents significantly declined to $5.60 million, and management expressed substantial doubt about its ability to continue as a going concern. Additionally, PDS Biotechnology discontinued its Phase 3 trial for PDS0101 and repaid $22.2 million in debt, while also establishing a new $50 million ATM program.

PDS Biotechnology announced a strategic refocus, prioritizing its PDS0301 immunocytokine as the lead development program following positive Phase 2 clinical data in metastatic colorectal cancer. The data showed a 77.8% objective response rate and an 80% 24-month survival rate. As part of this strategy, the company will cease internal investment in PDS0101 and seek partnerships for its continued development. For Q2 2026, PDS Biotech reported a net loss of $9.8 million, or $0.18 per share, with a cash balance of $5.6 million.

PDS Biotechnology Corporation announced a strategic refocus, prioritizing the advancement of its tumor-targeted immunocytokine PDS0301 for metastatic colorectal cancer (mCRC) and other solid tumors. The company will cease internal investment in the PDS0101 Phase 3 VERSATILE-003 trial and seek strategic partnerships for its continued development. This decision follows a comprehensive review of its development portfolio and capital allocation priorities, aiming to maximize long-term shareholder value. PDS0301 showed encouraging Phase 2 data with a 71% objective response rate and 80% 24-month survival rate in mCRC patients.

PDS Biotechnology Corporation announced a strategic refocus, prioritizing the development of PDS0301, its tumor-targeted immunocytokine, as its lead program. This decision follows a comprehensive review of its portfolio and capital allocation. The company will discontinue internal investment in the PDS0101 Phase 3 VERSATILE-003 trial and seek strategic partnerships for its continued development. PDS Biotech believes PDS0301 offers a more attractive path to long-term shareholder value, citing encouraging clinical data in metastatic colorectal cancer and a broad application potential across multiple solid tumors.

PDS Biotechnology Corp received a deficiency letter from the Nasdaq Listing Qualifications Department on July 30, 2026, for failing to meet the minimum $1.00 per share bid price requirement for continued listing. The company's common stock has traded below this threshold for the past 30 consecutive business days. PDS Biotechnology has been granted a 180-calendar-day compliance period, until January 26, 2027, to regain compliance. The company intends to monitor its stock price and may consider options such as a reverse stock split to address the deficiency.

PDS Biotechnology Corporation announced its Annual Meeting of Stockholders to be held virtually on August 10, 2026. Key proposals for shareholder vote include the election of two Class B directors, an amendment to increase the number of authorized common stock from 150,000,000 to 300,000,000 shares, and the ratification of KPMG LLP as the independent registered public accounting firm for fiscal year 2026. Additionally, shareholders will cast a non-binding advisory vote on the compensation of the company's named executive officers. The record date for voting is June 15, 2026.

PDS Biotechnology Corporation announced the closing of a previously disclosed Securities Purchase Agreement with YA II PN, LTD. This involved the issuance of a $6,000,000 promissory note and a warrant to purchase up to 2,158,274 shares of common stock at an exercise price of $1.1824 per share. Concurrently, the company repaid and terminated its existing indebtedness. Additionally, PDS Biotechnology entered into a Sales Agreement for an 'at-the-market' offering program, allowing it to sell up to $50,000,000 of common stock through agents.

PDS Biotechnology Corporation has announced that its 2026 Annual Meeting of Stockholders will be held on August 10, 2026. Due to the meeting date being more than 30 days from the anniversary of the 2025 Annual Meeting, the company has set a new deadline of June 25, 2026, for the submission of stockholder proposals for inclusion in its proxy materials. Stockholders must ensure their proposals comply with SEC rules.