In This Article:
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Cash and Investment Balance: $4.8 million as of September 2024, down from $8.6 million in December 2023.
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Grant Revenue: $4.4 million year-to-date 2024, compared to $3.6 million in the same period of 2023.
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Total Operating Loss: $10.8 million year-to-date 2024, compared to $9.5 million in the same period of 2023.
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Net Loss: $9.1 million or $1.46 per share year-to-date 2024, compared to $9.5 million or $3.54 per share in the prior year.
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Expected 2024 Grant Revenue: Projected to be in the range of $6 to $7 million.
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Private Placement Financing: Up to $19.25 million, with $7.25 million received at closing and $12 million remaining available.
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CPRIT Grant: $7.8 million remaining, with $3.9 million expected within 90 days and another $3.9 million in Q3 2025.
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Department of Defense Grant: $3 million to support the Respect pediatric brain cancer trial, with the first advance of $0.9 million received in October 2024.
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NIH Grant: Covers approximately 90% of the Respect GBM phase 1 and 2 trial costs.
Release Date: November 14, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Plus Therapeutics Inc (NASDAQ:PSTV) has made significant progress in its leptomeningeal metastases program, with the FDA agreeing to proceed under a multiple dose escalation protocol.
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The company reported favorable safety and tolerability results for doses of RNL up to 44 millicuries, with no dose-limiting toxicities observed.
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Plus Therapeutics Inc (NASDAQ:PSTV) has secured substantial grant funding, including a $3 million award from the US Department of Defense and ongoing support from the NIH.
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The company is expanding its manufacturing capabilities, ensuring a reliable supply of RNL with a new GMP manufacturing partnership.
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Plus Therapeutics Inc (NASDAQ:PSTV) is on track to commercially reintroduce its C Inside diagnostic test in early 2025, with plans for expanded market access and reimbursement.
Negative Points
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The cash and investment balance decreased to $4.8 million as of September 2024, down from $8.6 million in December 2023.
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The company reported a net loss of $9.1 million year-to-date 2024, indicating ongoing financial challenges.
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There is uncertainty regarding the timeline for obtaining necessary regulatory approvals and reimbursement codes for the C Inside diagnostic test.
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The therapeutic ratio for the RNL trials is still being evaluated, with potential safety concerns as the dose escalates.
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The company faces challenges in securing additional grant funding, with potential changes in government affecting future opportunities.