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Plus Therapeutics, Inc. (symbol: PSTV) is a cutting-edge clinical-stage pharmaceutical company based in Austin, Texas. Founded in 1996 and initially known as Cytori Therapeutics, Inc., the company rebranded to Plus Therapeutics in July 2019 to better reflect its mission and evolving focus. Specializing in the discovery, development, and manufacture of innovative treatments for cancer and other debilitating diseases, Plus Therapeutics aims to bring new hope to patients through cutting-edge medical solutions.
The company's lead product candidate is DocePLUS, a protein-stabilized, pegylated liposomal formulation of docetaxel specifically designed for the treatment of small cell lung cancer. Additionally, Plus Therapeutics is developing DoxoPLUS, a generic pegylated liposomal encapsulated doxorubicin aimed at treating breast and ovarian cancer, multiple myeloma, and Kaposi's sarcoma.
In a significant partnership, Plus Therapeutics has entered into a license agreement with NanoTx, Corp. to develop and commercialize NanoTx's glioblastoma treatment. This collaboration aims to propel the company further into the forefront of cancer treatment research.
One of the company's groundbreaking developments is the novel injectable radiotherapy called Rhenium (186Re) obisbemeda. This treatment is specifically formulated to deliver targeted high-dose radiation in Central Nervous System (CNS) tumors, optimizing patient outcomes while minimizing off-target risks. The product's efficacy and safety are being evaluated for recurrent glioblastoma and leptomeningeal metastases in the ReSPECT-GBM and ReSPECT-LM clinical trials. These trials are supported by grants from the National Cancer Institute (NCI) and the Cancer Prevention & Research Institute of Texas (CPRIT), totaling millions in funding.
Financially, Plus Therapeutics recently secured $6.5 million in upfront gross proceeds, with the potential to receive up to an additional $11.5 million through potential warrant exercise, amounting to approximately $18 million in total gross proceeds. These funds will be essential in advancing the company’s robust pipeline and bringing innovative treatments to market.
Investors and stakeholders can stay informed of the latest developments and financial updates by reaching out to key contacts such as Corey Davis, Ph.D. of LifeSci Advisors, and Charles Y. Huang, MBA, Director of Capital Markets and Investor Relations.
Plus Therapeutics (PSTV) has entered a multi-year agreement with Biocept to utilize the CNSide assay in its ReSPECT-LM clinical trial, aiming to treat patients with leptomeningeal metastasis. This assay will help monitor tumor cell burden in cerebrospinal fluid (CSF) and evaluate treatment response, enhancing the effectiveness of Rhenium-186 NanoLiposome (186RNL). CNSide offers advanced detection and quantification of tumor cells, significantly benefiting the clinical trial's patient management and treatment assessment.
Plus Therapeutics (PSTV) announced the successful completion of enrollment for the first cohort in its ReSPECT-LM Phase 1/2a clinical trial of Rhenium-186 NanoLiposome (186RNL) targeting leptomeningeal metastases. Initial results show no dose limiting toxicities, indicating promising drug performance. The next step involves the Data Safety & Monitoring Board evaluating further dose escalation. The investigational drug aims to provide a safer, effective treatment for this rare cancer complication, which has a dismal survival rate. Plus Therapeutics expects to release further updates in Q3 2022.
Plus Therapeutics (PSTV) announced promising interim results from its Phase 1/2a ReSPECT-GBM trial for Rhenium-186 NanoLiposome (186RNL) in recurrent glioblastoma patients. The study showed that 186RNL, delivered via convection enhanced delivery, effectively targets tumors with minimal radiation exposure to healthy tissue. No significant adverse events were recorded during dose escalation, which involved 24 patients across seven cohorts. The company plans to initiate a Phase 2 trial by the end of 2022 and is also evaluating 186RNL for additional indications.
Plus Therapeutics, Inc. (Nasdaq: PSTV) is set to present virtually at the 2022 H.C. Wainwright Global Investment Conference from May 23-26, 2022. Marc Hedrick, M.D., President and CEO, will lead the presentation, available on-demand during the conference and archived for 90 days on the company’s website. Plus Therapeutics focuses on innovative cancer treatments through advanced radiotherapeutics and liposomal encapsulation technology. Interested investors can arrange virtual meetings with the company's management through the conference coordinator.
Plus Therapeutics, Inc. (Nasdaq: PSTV) announced that CEO Marc Hedrick will present at the 2022 Q2 Investor Summit on May 3, 2022, at 12:30 p.m. ET in New York. The company develops targeted radiotherapeutics for hard-to-treat cancers. Interested investors can arrange meetings with management at the event. A webcast of the presentation will be available on the Plus Therapeutics website, with a replay accessible for 90 days afterward. Plus Therapeutics focuses on innovative cancer treatments using a proprietary nanotechnology platform.
Plus Therapeutics (PSTV) announced the first patient dosing in the ReSPECT-LM Phase 1/2a trial of 186RNL for leptomeningeal metastases, highlighting a significant step in its drug development efforts. The company reported a cash balance of $21.2 million as of March 31, 2022, reflecting an increase from $18.4 million at year-end 2021. However, total operating expenses rose to $3.9 million, leading to a net loss of $4.1 million, or $(0.19) per share, for Q1 2022. Plus Therapeutics also expanded its partnership with Medidata to enhance trial efficiency, aiming for FDA approval for multiple upcoming trials.
Plus Therapeutics (PSTV) announced an oral presentation at the Society of Nuclear Medicine and Molecular Imaging (SNMMI) 2022 Annual Meeting, scheduled for June 11-14, 2022, in Vancouver, Canada. The presentation will cover new data on Rhenium-186-NanoLiposome (186RNL) for treating relapse/recurrent glioblastoma (rGBM). The presentation will be available on the company's website post-event. Plus Therapeutics is focused on developing innovative cancer treatments utilizing a proprietary nanotechnology platform to enhance drug delivery and efficacy.
Plus Therapeutics (PSTV) will announce its Q1 2022 financial results on April 21, 2022, after market close. Following the release, the management team will host a conference call at 5:00 p.m. ET to discuss the results and provide updates on the company's progress. Investors can access the live broadcast and later replay via the Plus Therapeutics website. The company focuses on developing innovative, targeted radiotherapeutics for challenging cancer types, utilizing a proprietary nanotechnology platform for drug delivery and enhancement.
Plus Therapeutics (Nasdaq: PSTV) announced its participation at the AACR 2022 Annual Meeting, presenting a poster on a biology-based model predicting recurrent glioblastoma response to treatment with 186Re-labeled nanoliposomes. The poster will be showcased on April 12, 2022, from 9:00 a.m. to 12:30 p.m. CT at the New Orleans Convention Center. Plus Therapeutics focuses on innovative cancer therapies using advanced nanotechnology for drug delivery. The company is committed to developing effective treatments for patients with difficult-to-treat cancers.
Plus Therapeutics (PSTV) announced an expanded partnership with Medidata to enhance its upcoming Phase 2 trial of Rhenium-186 NanoLiposome (186RNL) for recurrent glioblastoma. This collaboration aims to speed enrollment and reduce trial costs by utilizing Medidata's Synthetic Control Arm® platform, which incorporates historical clinical trial data, increasing patient access to innovative therapies. Dr. Norman LaFrance emphasized that this approach minimizes patient exposure to ineffective treatments. The partnership follows a successful feasibility phase, enhancing the trial's scientific validity.
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