Plus Therapeutics Receives AMA PLA Code for CNSide® CSF Tumor Cell Enumeration Test, Advancing Reimbursement and U.S. Commercial Adoption
Rhea-AI Summary
Plus Therapeutics (Nasdaq: PSTV) received an AMA PLA CPT code (0640U) for its CNSide® CSF Tumor Cell Enumeration (TCE) test, effective July 1, 2026.
This dedicated billing code establishes a unique reimbursement identifier to support payer claims processing, clinician adoption, national utilization tracking, and the Company’s ongoing U.S. commercial launch of CNSide diagnostics.
Positive
- PLA CPT code 0640U assigned, effective July 1, 2026
- Dedicated reimbursement identifier to support payer claims processing
- Enables national utilization tracking via claims data for real-world evidence
- Supports U.S. commercial launch of CNSide CSF TCE diagnostic
Negative
- None.
News Market Reaction – PSTV
On the day this news was published, PSTV declined 12.31%, reflecting a significant negative market reaction. Argus tracked a peak move of +18.9% during that session. Argus tracked a trough of -8.8% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $3M from the company's valuation, bringing the market cap to $22.85M at that time. Trading volume was exceptionally heavy at 8.3x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
PSTV fell 6.46% with elevated volume, while momentum peers ACRV and BCAB also moved down (median change about -3.4%). This points to stock-specific weakness amplified by broader biotech pressure.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 02 | Coverage expansion | Positive | -8.6% | Highmark coverage expanded CNSide access to about 75 million covered lives. |
| Mar 31 | Equity incentives | Neutral | -4.2% | Inducement stock options and RSUs granted to new employees under incentive plan. |
| Mar 31 | Reverse stock split | Negative | -24.2% | 1-for-25 reverse split to regain Nasdaq compliance and boost share price. |
| Mar 26 | Board appointment | Positive | -1.2% | Diagnostics veteran Ron Andrews joined board to support CNSide scale-up. |
| Mar 19 | Health economics data | Positive | +2.2% | ISPOR data suggested CNSide may reduce LM healthcare costs by about 40%. |
Recent history shows several positive CNSide and corporate updates followed by negative price reactions, while clearly dilutive or structurally negative events like the reverse split aligned with downside moves.
Over the past month, Plus Therapeutics has focused on scaling its CNSide CSF assay and CNS oncology platform. On Mar 19, an ISPOR analysis suggesting ~40% LM cost reductions saw a modest +2.16% move. Subsequent positive items—Highmark coverage on Apr 1 and a seasoned diagnostics director appointment—were met with declines of 8.6% and 1.22%. The 1-for-25 reverse split on Mar 31 coincided with a -24.23% drop, underscoring persistent shareholder sensitivity to capital-structure changes as CNSide commercialization progresses.
Market Pulse Summary
The stock dropped -12.3% in the session following this news. A negative reaction despite operationally positive news fits a recent pattern where PSTV sold off on constructive CNSide updates. The stock already sat well below its $11.38 200-day MA and near the $3.225 52-week low, following a 1-for-25 reverse split and prior declines after coverage wins. In that context, concerns about capital structure, execution timelines, and sector risk could have outweighed enthusiasm for the new PLA code.
Key Terms
proprietary laboratory analyses medical
current procedural terminology regulatory
cerebrospinal fluid medical
leptomeningeal metastases medical
radiopharmaceuticals medical
AI-generated analysis. Not financial advice.
New dedicated billing code facilitates payer reimbursement, supports clinician adoptions, and enables national utilization tracking
HOUSTON, April 07, 2026 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (“Plus” or the “Company”), a healthcare company developing and commercializing precision diagnostics and radiopharmaceuticals for central nervous system (CNS) cancers, today announces that the American Medical Association (AMA) has approved a new, Proprietary Laboratory Analyses (PLA) Current Procedural Terminology (CPT) code for its CNSide® Cerebrospinal Fluid (CSF) Tumor Cell Enumeration (TCE) test.
The dedicated billing code, 0640U, effective July 1, 2026, establishes a unique reimbursement identifier for the CNSide CSF TCE test, supporting payer claims processing and facilitating broader clinical adoptions as the Company continues the U.S. commercial launch of its CNS metastases diagnostic platform.
“Securing a dedicated PLA code for CNSide is an important milestone supporting the commercial launch of our CNSide Diagnostics business,” said Marc H. Hedrick, M.D., Plus Therapeutics President and Chief Executive Officer. “This coding milestone simplifies the reimbursement pathway for the CNSide CSF Tumor Cell Enumeration test and supports broader clinical adoption by oncologists and neurologists managing patients with leptomeningeal metastases. As awareness and payer coverage expand, we believe CNSide has the potential to become an important tool in the management of metastatic CNS cancers while contributing meaningfully to our revenue growth. Our diagnostics business continues to scale alongside our therapeutic pipeline, and we remain focused on building CNSide into a sustainable commercial franchise.”
Key implications of the newly assigned PLA code 0640U
- Supports payer reimbursement processes. Provides a dedicated billing code specific to the CNSide CSF Tumor Cell Enumeration test, enabling standardized claims submission and facilitating payer coverage determinations.
- Facilitates clinician adoption. Simplifies ordering and billing processes for clinicians and cancer centers evaluating patients with suspected leptomeningeal metastases.
- Enables national utilization tracking. PLA coding allows tracking of test utilization through claims data, supporting real-world evidence generation related to clinical outcomes and health economics.
- Supports ongoing U.S. commercial launch. The coding milestone strengthens the reimbursement infrastructure supporting the Company’s ongoing U.S. launch of CNSide CSF test.
About PLA Codes
Proprietary Laboratory Analyses (PLA) codes are issued by the American Medical Association to uniquely identify specific laboratory tests performed by a single laboratory or manufacturer. A dedicated PLA code allows healthcare providers to bill insurers using a standardized code that reflects the specific diagnostic test performed, facilitating claims processing and enabling tracking of test utilization across the healthcare system.
About CNSide Diagnostics, LLC
CNSide Diagnostics, LLC is a wholly owned subsidiary of Plus Therapeutics, Inc. that develops and commercializes proprietary laboratory-developed tests, such as CNSide®, designed to identify tumor cells that have metastasized to the central nervous system in patients with carcinomas and melanomas. The CNSide® CSF Assay Platform enables quantitative detection and molecular characterization of tumor cells in cerebrospinal fluid, providing actionable diagnostic information to physicians managing patients with leptomeningeal metastases, a serious and often difficult-to-diagnose complication of advanced cancer. Leptomeningeal metastases occur when cancer spreads to the membranes surround the brain and spinal cord and are associated with significant morbidity and limited diagnostic tools, highlighting the need for more sensitive diagnostic approaches.
About Plus Therapeutics
Headquartered in Houston, Texas, Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes. Combining image-guided local beta radiation and targeted drug delivery approaches, the Company is advancing a pipeline of product candidates with lead programs in leptomeningeal metastases (LM) and recurrent glioblastoma (GBM). The Company has built a supply chain through strategic partnerships that enable the development, manufacturing, and future potential commercialization of its products.
Forward-Looking Statements
This press release contains statements that may be deemed “forward-looking statements” within the meaning of U.S. securities laws. All statements in this press release other than statements of historical fact are forward-looking statements. These forward-looking statements may be identified by future verbs, as well as terms such as "expect," "anticipate" "intend," "believe," "estimate," "will," and similar expressions or the negatives thereof. Such statements are based upon certain assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this press release could differ materially from those expressed or implied by these forward-looking statements because of risks, uncertainties, and other factors that include, but are not limited to, the following: expectations regarding the completion of the proposed offering; the Company's ability to successfully raise sufficient capital on reasonable terms or at all; available cash on hand and contractual and statutory limitations that could impair our ability to pay future dividends; our ability to complete our pre-clinical or clinical studies; and changes in local or national economic conditions. This list of risks, uncertainties, and other factors is not complete. Any or all forward-looking statements the Company makes may turn out to be wrong and can be affected by inaccurate assumptions the Company might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. This list of risks, uncertainties, and other factors is not complete. Plus Therapeutics discusses some of these matters more fully, as well as certain risk factors that could affect Plus Therapeutics’ business, financial condition, results of operations, and prospects, in its reports filed with the SEC, including Plus Therapeutics’ annual report on Form 10-K for the fiscal year ended December 31, 2025, quarterly reports on Form 10-Q, and current reports on Form 8-K. These filings are available for review through the SEC’s website at www.sec.gov. Any or all forward-looking statements Plus Therapeutics makes may turn out to be wrong and can be affected by inaccurate assumptions Plus Therapeutics might make or by known or unknown risks, uncertainties, and other factors, including those identified in this press release. Accordingly, you should not place undue reliance on the forward-looking statements made in this press release, which speak only as of its date. There may be events in the future that the Company is unable to predict, or over which it has no control, and its business, financial condition, results of operations and prospects may change in the future. The Company assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless the Company has an obligation under U.S. federal securities laws to do so.
Investor Contact
CORE IR
investor@plustherapeutics.com
