TLDR
- Profusa stock surged 95.6% in pre-market trading on August 18, driven by its third reverse stock split of 2026
- The 1-for-4 reverse split took effect August 17, cutting shares outstanding from 2.42 million to roughly 605,726
- The ultra-thin float means even small buying pressure creates outsized price moves
- Profusa has a pending option to acquire G3 Vision Labs and a letter of intent for the PanOmics diagnostics platform
- The broader market was down on the day, with the Nasdaq off 1.3%, making this a purely stock-specific event
Profusa stock closed Monday at $4.53, up 27%, before jumping another 77% in after-hours to $8.02. By pre-market Tuesday, the stock had surged 95.6%, bringing the total move to near double its Monday close.
Profusa, Inc. Common Stock, PFSA
The driver is mechanical as much as anything else. Profusa executed a 1-for-4 reverse stock split effective 12:01 a.m. ET on August 17, its third reverse split of 2026. It followed a 1-for-25 split completed on July 7.
The split reduced shares outstanding from 2,422,906 to approximately 605,726. A new CUSIP number was assigned, and Tuesday’s pre-market was the first session with traders fully pricing in the new structure.
With a float that thin, it does not take much to move the needle. Even modest buying pressure gets amplified into large percentage swings, which tends to attract momentum traders looking for a quick ride.
M&A Narrative Adds Fuel
Beyond the split mechanics, Profusa has been building an acquisition story that keeps speculative interest elevated. Earlier in August, the company signed an option agreement to acquire G3 Vision Labs, a commercial-stage diagnostics company.
There is also a pending letter of intent for the PanOmics multi-omics diagnostics platform. Neither deal is closed, but the M&A narrative gives traders something to point to beyond just the reverse split mechanics.
A delayed quarterly SEC filing, disclosed on August 14, also pulled additional eyes to the stock in the days before the move. Late filings are not always a red flag, but they do tend to stir attention.
No Macro Tailwind Here
The broader market offered no cover for this move. The Nasdaq was down 1.3% and the S&P 500 fell 0.5% on the day. This was a purely company-specific event.
Profusa develops continuous biochemistry monitoring platforms, including the Lumee Oxygen and Lumee Glucose systems. There were no sector-wide catalysts in digital health or biointegrated sensors to explain the surge.
The company did not report earnings or announce a major revenue event. The move came down to the collision of a thin float, split mechanics, and speculative trading activity.
PFSA closed Monday at $4.53 and was trading at $8.02 in after-hours, a 77% gain on the session before pre-market activity pushed it even higher.
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