Welcome to our dedicated page for PLUS THERAPEUTICS news (Ticker: PSTV), a resource for investors and traders seeking the latest updates and insights on PLUS THERAPEUTICS stock.
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. (Nasdaq: PSTV) acquired assets for the CNSide™ diagnostic platform to improve LM diagnosis accuracy. The company plans to develop the CNSide portfolio alongside the lead radiotherapeutic candidate and seek partnering opportunities. Topline data from the FORESEE trial met its primary endpoint, showing clinical utility in 40 patients. A full analysis is set for the SNO/ASCO Meeting in August 2024.
Plus Therapeutics, Inc. (Nasdaq: PSTV) will host an investor call on May 9th, 2024, to discuss the acquisition of CNSide assets and provide updates on the FORESEE clinical trial. The company aims to leverage the acquired assets for CNS cancers and share key insights with investors.
Plus Therapeutics, Inc. (Nasdaq: PSTV) announced a private placement financing of up to $18 million, with $6.5 million in upfront gross proceeds and the potential for an additional $11.5 million in warrant exercise proceeds. The funding involves a securities purchase agreement with new institutional investors and Company insiders. The transaction, led by AIGH Capital Management , is expected to provide the company with an estimated $34 million cash runway to support corporate goals. The financing includes the issuance of common stock and accompanying warrants, with certain investors opting for pre-funded warrants. The private placement is set to close around May 8, 2024, with proceeds intended for general corporate purposes and funding the Re-SPECT LM clinical development program.
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