Plus Therapeutics(US:PSTV)2025-10-30 20:15Financial Performance - The total operating loss for Q3 2025 was $4.5 million, compared to a loss of $3.8 million in Q3 2024, primarily due to increased compensation expenses and professional fees [10]. - The net loss for Q3 2025 was $4.4 million, or a loss of $0.04 per share, compared to a net loss of $2.9 million, or a loss of $0.37 per share, in the same quarter of the previous year [10]. - Grant revenue for Q3 2025 was $1,397 million, a decrease of 4% from $1,456 million in Q3 2024 [20]. - Total operating expenses for Q3 2025 were $5,879 million, up 12% from $5,255 million in Q3 2024 [20]. - Net loss for Q3 2025 was $4,423 million, compared to a net loss of $2,874 million in Q3 2024, representing an increase of 54% [20]. - The company reported interest income of $59 million for Q3 2025, down from $80 million in Q3 2024 [20]. - The weighted average number of shares outstanding for basic net loss per share was 107,428,969 for Q3 2025, compared to 7,855,763 for Q3 2024 [20]. Cash and Investments - Plus Therapeutics reported a cash and investments balance of $16.6 million as of September 30, 2025, up from $6.9 million on June 30, 2025, and $3.6 million on December 31, 2024 [10]. - Cash flows used in operating activities for the nine months ended September 30, 2025, were $14,518 million, compared to $9,343 million in 2024, indicating a 55% increase [22]. - Cash and cash equivalents at the end of the period were $13,289 million, significantly up from $1,223 million at the end of the same period in 2024 [22]. - Net cash provided by financing activities for the nine months ended September 30, 2025, was $27,508 million, compared to $6,187 million in 2024, reflecting a substantial increase [22]. Grants and Agreements - Plus Therapeutics received an additional $1.9 million advance payment from CPRIT as part of a previously awarded non-dilutive $17.6 million grant for the development of targeted radiotherapeutics [6]. - Plus Therapeutics announced a national coverage agreement with UnitedHealthcare effective September 15, 2025, covering over 51 million people in the U.S. for the CNSide laboratory-developed test [6]. Clinical Developments - The CNSide CSF assay platform was commercially launched in Texas in August 2025, with initial focus on National Cancer Institute Designated Cancer Centers [10]. - Positive results from the ReSPECT-LM Phase 1 clinical trial were presented, indicating feasibility and promising efficacy for treating leptomeningeal metastases [4]. - Plus Therapeutics plans to expand its commercial team and footprint for CNSide and clarify its clinical development plan for REYOBIQ with the FDA in Q4 2025 [3]. Assets and Compliance - The total assets increased to $18.67 million as of September 30, 2025, compared to $6.63 million on December 31, 2024 [18]. - The company regained compliance with Nasdaq listing criteria, including market value and stockholder's equity thresholds [6]. Expenses - Research and development expenses for the nine months ended September 30, 2025, were $5,438 million, down 35% from $8,394 million in the same period of 2024 [20]. - The company incurred stock-based compensation expense of $827 million for the nine months ended September 30, 2025, compared to $422 million in the same period of 2024 [22].