Plus Therapeutics Reports Second Quarter Financial Results and Recent Business Highlights

Core Insights - Plus Therapeutics, Inc. is advancing its clinical-stage pharmaceutical initiatives focused on targeted radiotherapeutics for central nervous system (CNS) cancers, with significant progress in both clinical trials and diagnostic platform technologies [2][8] Corporate Highlights - The company completed a restructuring of a $15 million equity financing, simplifying its capital structure [6] - Plus Therapeutics received an advance payment of $1.6 million from the Cancer Prevention and Research Institute of Texas (CPRIT) as part of a previously awarded $17.6 million grant [6] - The company appointed Kyle Guse, an industry veteran with 30 years of experience, to its Board of Directors [6] - Plus Therapeutics presented updated interim data on its lead compound REYOBIQ™ at a conference, highlighting its safety and clinical benefits for patients with leptomeningeal metastases [6] Clinical Development - The REYOBIQ™ clinical trials are demonstrating favorable safety and efficacy signals, which are facilitating active enrollment in the dose optimization trial [2][4] - The company initiated the ReSPECT-LM dose optimization trial for REYOBIQ, treating the first two patients to evaluate multiple-dose regimens [6] - The U.S. Food and Drug Administration (FDA) cleared the Investigational New Drug (IND) application for REYOBIQ for pediatric patients with specific high-grade gliomas, supported by a $3 million grant from the Department of Defense [6] CNSide CSF Assay Platform - The CNSide CSF assay platform is set to launch in Texas, focusing initially on National Cancer Institute Designated Cancer Centers [10] - The total addressable market for the CNSide CSF Tumor Cell Enumeration (TCE) test is estimated to be $6 billion in the U.S., with plans to add three additional CNS assays [10] - The company aims to expand CNSide testing services regionally over the next 12 months [2][10] Financial Performance - As of June 30, 2025, the company reported cash and investments of $6.9 million, an increase from $3.6 million at the end of 2024 [10] - Grant revenue for Q2 2025 was $1.4 million, compared to $1.3 million in the same quarter of 2024 [10] - The total operating loss for Q2 2025 was $1.5 million, a decrease from $3.7 million in Q2 2024, attributed to improved operational cost control [10] - The company reported a net income of $5.2 million for Q2 2025, a significant turnaround from a net loss of $2.9 million in the same quarter the previous year [10]