Plus Therapeutics Reports First Quarter Financial Results and Recent Business Highlights

Core Insights - Plus Therapeutics, Inc. is advancing its clinical trials for REYOBIQ™ and preparing for the launch of the CNSide® CSF assay platform, with a focus on central nervous system cancers [1][2] Financial Overview - The cash balance increased to $9.9 million as of March 31, 2025, compared to $0.1 million at December 31, 2024 [6] - The company raised gross proceeds of $15 million through private placement financing and received a $2 million grant from CPRIT to support the development of REYOBIQ™ [7] - Grant revenue for Q1 2025 was $1.1 million, down from $1.7 million in Q1 2024 [13] - The total operating loss for Q1 2025 was $3.5 million, slightly higher than the $3.3 million loss in the same period of 2024 [13] - The net loss for Q1 2025 was $17.4 million, or $(1.19) per share, compared to a net loss of $3.3 million, or $(0.75) per share, in Q1 2024 [13][18] Clinical Development Highlights - REYOBIQ™ is being evaluated for recurrent glioblastoma and leptomeningeal metastases in ongoing clinical trials [9] - Updated interim data presented at a conference in May 2025 indicated safety and clinical benefits of REYOBIQ™ for patients with leptomeningeal metastases [7] - Phase 1 trial results published in Nature Communications showed that patients receiving a radiation dose greater than 100 Gy had a median overall survival of 17 months, more than double the standard of care [7] Management and Strategic Developments - The company strengthened its management team with key appointments, including Kyle Guse to the Board of Directors and Dr. Michael Rosol as Chief Development Officer [7] - Russell Bradley was appointed as President and General Manager of CNSide Diagnostics, focusing on the commercialization of the CSF assay platform [7] Product and Technology Overview - REYOBIQ™ is a novel injectable radiotherapy designed for targeted delivery of high-dose radiation to CNS tumors, potentially improving patient outcomes compared to existing therapies [9] - CNSide Diagnostics is developing the CNSide™ CSF assay platform to identify tumor cells in cerebrospinal fluid, with plans for commercialization in the U.S. in 2025 [10]