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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) announced a $17.6 million grant from CPRIT to support the development of 186RNL for leptomeningeal metastases. The company completed cGMP manufacturing for this investigational drug and plans to initiate the ReSPECT-GBM Phase 2 trial for recurrent glioblastoma in Q4 2022. Financially, PSTV reported a net loss of $5.2 million for Q3 2022, with cash reserves of $20.3 million. The company believes its funding is sufficient to support operations through 2025, highlighting significant progress in clinical trials and funding commitments.
Plus Therapeutics (PSTV) recently presented findings from its ReSPECT-LM and ReSPECT-GBM Phase 1 clinical trials at the 35th Annual Congress of the European Association of Nuclear Medicine. Both trials evaluated the investigational drug Rhenium-186 NanoLiposome (186RNL) for treating leptomeningeal metastases and recurrent glioblastoma. Results indicated that treatment was well tolerated, with no dose-limiting toxicities and significant decreases in spinal fluid tumor cell counts (46%-92%). A $17.6 million grant from CPRIT supports ongoing trials, with further data expected by year-end.
Plus Therapeutics, a clinical-stage pharmaceutical company, announced that CEO Marc Hedrick will present at the ThinkEquity Conference on October 26, 2022, at 3:00 p.m. ET in New York City. The company is focused on developing innovative radiotherapeutics for rare cancers. Investors can arrange meetings with management during the conference. An archived presentation will be available on their website for 90 days post-event. Plus Therapeutics emphasizes its nanotechnology platform and liposomal encapsulation technology aimed at improving drug delivery for cancer treatment.
Plus Therapeutics, Inc. (PSTV) will report its third quarter 2022 financial results on October 20, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. ET to discuss the results and provide corporate updates. The live webcast can be accessed through their investor relations page. The company focuses on developing innovative radiotherapeutics for challenging cancers and utilizes a proprietary nanotechnology platform for drug delivery.
Plus Therapeutics (PSTV) announced that Dr. Andrew Brenner will host a live webinar on October 9, 2022, focusing on a new targeted radiation therapy for leptomeningeal metastases related to breast and lung cancers. This session is part of the Musella Foundation Webinar Series. Leptomeningeal metastases pose significant treatment challenges, and the webinar aims to educate patients about potential therapies. Plus Therapeutics is a clinical-stage pharmaceutical company developing innovative treatments for cancer, leveraging advanced delivery technologies.
Plus Therapeutics (PSTV) announced that its data on Leptomeningeal metastases has been recognized as a “Top Rated Oral Presentation” by EANM. The company will present findings from ongoing clinical trials on its investigational drug, Rhenium-186 NanoLiposome (186RNL), for treating recurrent glioblastoma and leptomeningeal metastases at the 35th Annual Congress of EANM in Barcelona from October 15-19, 2022. The presentations will detail safety and feasibility trials for 186RNL, highlighting its potential in challenging cancer treatments.
Plus Therapeutics (PSTV) has secured a $17.6 million grant from CPRIT to fund the development of its lead investigational treatment, Rhenium-186 NanoLiposome, for leptomeningeal metastases. This funding, expected to be received by October 31, 2022, allows for $3.7 million in Year 1, $6.7 million in Year 2, and $7.2 million in Year 3, extending the company's cash runway through 2025. As of June 30, 2022, Plus Therapeutics reported $18.1 million in cash, bolstering its financial position for ongoing clinical trials and operational activities.
Plus Therapeutics announced Phase 1 results for 186RNL, showing significant safety and survival benefits in patients with recurrent glioblastoma. The trial, presented at ESMO 2022, demonstrated a median overall survival of 22.9 months for patients receiving over 100 Gray of radiation, compared to 5.6 months for lower doses. The company will advance to Phase 2, funded by the NIH, to explore expanded dosing and larger tumors. Observations include no dose-limiting toxicities and enhanced radiation delivery potential, marking a promising step towards treatment advancement.
Plus Therapeutics, Inc. (Nasdaq: PSTV) announced that CEO Marc Hedrick will present at the H.C. Wainwright 24th Annual Global Investment Conference on September 14, 2022, at 2:00 p.m. ET, in New York City. The presentation will focus on the company’s development of targeted radiotherapeutics for rare cancers. Investors interested in meetings with management should contact the conference coordinator. An archived replay of the presentation will be available on the Plus Therapeutics website for 90 days post-event.
Plus Therapeutics (PSTV) announced the initiation of the ReSPECT-GBM Phase 2 trial, focusing on the Rhenium-186 NanoLiposome (186RNL) for treating recurrent glioblastoma (GBM). The FDA has approved the trial, emphasizing dose exploration and the collection of safety and efficacy data. A future registrational trial will prioritize overall survival as the main endpoint. The trial's principal investigator will provide updates at the ESMO Congress. Plus Therapeutics continues to develop innovative targeted radiotherapeutics for challenging cancers, backed by NIH and CPRIT funding.
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