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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, Inc. (PSTV) has entered a ten-year exclusivity agreement with ABX Advanced Biochemical Compounds GmbH for the supply of a key component in the manufacturing of Rhenium-186 NanoLiposome (186RNL), their lead radiotherapeutic. This partnership will ensure a high purity precursor produced under cGMP, meeting FDA standards. The agreement not only strengthens Plus Therapeutics’ supply chain but also secures long-term market protection around their RNL portfolio, which is key in treating recurrent glioblastoma and other rare cancers.
Plus Therapeutics, Inc. (Nasdaq: PSTV) announced its financial results for Q2 2021, reporting a net loss of $2.8 million, or $(0.25) per share. The company's cash balance increased to $17.2 million, up from $8.3 million at year-end 2020. Highlights include ongoing clinical trials for the Rhenium-186 NanoLiposome (186RNL) targeting recurrent glioblastoma, with 22 patients treated and an eighth cohort underway. The company plans to submit IND applications for Leptomeningeal Metastases and Pediatric Brain Cancer trials by year-end 2021. A conference call will discuss these results at 5:00 PM ET today.
Plus Therapeutics, Inc. (PSTV) announced the successful treatment of the first patient in the eighth cohort of their Phase 1 ReSPECT™-GBM clinical trial for recurrent glioblastoma. This cohort features a 40% increase in treatment volume and radioactivity compared to previous cohorts. To date, 22 patients have been treated across eight cohorts with no dose-limiting toxicities reported. The trial is progressing as scheduled, and an update is expected in Q4 2021.
Plus Therapeutics (PSTV) announced it will report its second quarter 2021 financial results on July 22, 2021, after market close. A conference call and webcast to discuss the results and provide a corporate update will follow at 5:00 p.m. ET. Plus Therapeutics focuses on developing targeted radiotherapeutics for rare cancers, utilizing a nanotechnology platform for drug delivery and formulation. This innovative approach aims to enhance the safety and efficacy of treatments for difficult-to-treat cancers.
Plus Therapeutics (PSTV) announced a significant step forward in their ReSPECT™ trial for Rhenium NanoLiposome (RNL™) in treating recurrent glioblastoma (GBM). The Data and Safety Monitoring Board has approved advancing to the eighth cohort, which will feature a 40% increase in total radioactivity, escalating the infused dose to 31.2 millicuries. RNL™ has demonstrated a favorable safety profile with no dose-limiting toxicities observed in the first seven cohorts, treating 21 patients. The trial is supported by the NIH/National Cancer Institute at three U.S. sites.
Plus Therapeutics (PSTV) announced a poster presentation at the 6th Biennial Pediatric Neuro-Oncology Research Conference. The poster focuses on a Phase I study of Rhenium-186 Nanoliposomes (186RNL) for treating ependymoma and high-grade glioma. Dr. Ashley S. Plant-Fox from Northwestern University leads the presentation. The FDA has provided positive feedback on their study synopsis and confirmed no additional toxicology studies are needed for pediatric trials. RNL has also received Orphan Drug and Fast Track designations for glioblastoma treatment.
AUSTIN, Texas, June 9, 2021 – Plus Therapeutics (Nasdaq: PSTV) has announced that President and CEO Marc H. Hedrick M.D. will participate in the BIO Digital Conference on June 10-11 and 14-18, 2021. The conference presentation will be accessible on-demand on the conference website. Following the event, it will also be available in the Investors section of Plus Therapeutics' website. The company focuses on nanoliposome-encapsulated radionuclides for cancer treatment, enhancing drug delivery and efficacy for rare cancers.
Plus Therapeutics (PSTV) announced two collaboration agreements aimed at advancing the cGMP manufacturing processes for Rhenium NanoLiposome (RNL™), targeting recurrent glioblastoma. The partnerships include Invicro LLC for process development and imaging support, and Eurofins BioPharma for developing test methods for purity and compliance. These agreements are crucial for progressing RNL™ to registrational clinical trials and eventual commercial supply, according to CEO Marc H. Hedrick. Previous agreements include a master services engagement with Piramal Pharma Solutions for RNL™ production.
Plus Therapeutics, Inc. (Nasdaq: PSTV) reported first-quarter financial results for 2021, highlighting a cash balance of $14.4 million, up from $8.3 million at year-end 2020. The company posted a net loss of $2.7 million, or $(0.33) per share, compared to a net loss of $1.1 million, or $(0.28) per share, in Q1 2020. Key developments include advancements in their lead drug Rhenium NanoLiposome (RNL™) for treating rare cancers, and progress in clinical trials, including treatment for recurrent glioblastoma and upcoming FDA meetings. A conference call is scheduled for April 22, 2021, at 5:00 p.m. ET.
Plus Therapeutics (Nasdaq: PSTV), a clinical-stage pharmaceutical company focused on therapies for rare cancers, will report its first quarter 2021 financial results on April 22, 2021, after market close. Following the earnings announcement, a conference call and webcast will take place at 5:00 PM ET to discuss results and provide a corporate update. Plus Therapeutics utilizes a unique nanotechnology platform aimed at enhancing drug delivery and efficacy for difficult-to-treat cancers. Details for the conference call and webcast are available on their website.
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