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Tag: PSTV

  • Plus Therapeutics Inc. (PSTV) stock Recovers in the Premarket

    Plus Therapeutics Inc. (PSTV) stock Recovers in the Premarket

    Plus Therapeutics Inc. (PSTV) was up by 9.73% at $1.24 premarket at the last check on Tuesday.

    In the regular trading session, the stock opened at a price of $1.20 and ranged between $1.12 and $1.32 during the day. PSTV stock declined by 4.24% in the regular session at $1.13 but reversed its course in the premarket session today. While there is no news from the company driving the stock, the stock was bound to recover sooner or later.

    The US-based company focuses on the development of innovative radiotherapeutics geared towards rare cancers that are not easily treatable. Currently, the company has a market capitalization of $18.12 million.

    PSTV’s ReSPECTTM-GBM Phase 1 Data

    PSTV has been conducting the ReSPECTTM-GBM Phase 1 clinical trial of its investigational drug Rhenium-186 NanoLiposome for patients with recurrent glioblastoma (GBM).

    During the annual meeting of the Society for Neuro-Oncology, the firm announced positive interim results from the trial. The meeting was held in November 2021, in Boston, Massachusetts. The company revealed a positive correlation of higher absorbed radiation doses of the drug with the overall survival of patients.

    According to the principal investigator of the trial, Andrew J. Brenner, the drug has shown good tolerance without any dose-limiting toxicities so far. Hence, further clinical investigation of relative efficacy is warranted. Moreover, Dr. Brenner is the Professor of Medicine, Neurology, and Neurosurgery at The University of Texas Health Science Center at San Antonio.

    Employment Inducement Grants

    On November 12, PSTV announced granting option awards to its chief medical officer, Dr. Norman LaFrance. The equity awards were used to mark the induction of LaFrance as the CMO. Moreover, the awards are to be utilized for the purchase of 120,000 common shares of the company.

    PSTV’s Q3 Financial Highlights

    On October 21, PSTV declared its financial results for the third quarter of 2021. In the third quarter of 2021, the company incurred a net loss of $3.7 million. This compares to $1.7 million in the year-ago quarter. Subsequently, the net loss per share was $0.28 and $0.39 in the third quarter of 2021 and 2020, respectively.

    Moreover, PSTV ended the third quarter with a cash balance of $21.3 million against, $8.3 million on December 31, 2020.

    Further, the total operating expenses of the company were $3.5 million in the third quarter of 2021. This compares to $1.4 million in the third quarter of 2020.

  • Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) stock is high today. What’s going on?

    Plus Therapeutics, Inc. (PSTV) entered into the Master Services Agreement(MSA) with Piramal Pharma Solutions(PPS) today after which the PSTV stock price saw an uptrend of  45.26% to reach $3.98 a share as of this writing. Plus Therapeutics gained 3.40% at the previous closing and its per-share price was $2.74. Let’s see what the agreement says.

    MSA with Piramal Pharma Solutions (PPS).

    Plus Therapeutics, Inc. (PSTV) is a clinical-stage pharmaceutical company mainly focused on the treatment of cancer diseases. PSTV today announced its Master Services agreement with Piramal Pharma Solutions (PPS), leading contract development and manufacturing firm, to develop, manufacture, and supply Rhenium NanoLiposome (RNL™) which is an intermediate drug product of PSTV. According to this agreement, PSTV will transfer and perform its analytical methods at PPS’s drug product facility in Lexington, Kentucky along with the development of microbiological methods, intermediate drug manufacturing, and stability studies.

    Future Impact of MSA

    Plus Therapeutics is focused on the advancement of Rhenium NanoLiposome to make it a novel treatment for patients who are suffering glioblastoma, aggressive cancer often occurs in the brain or spinal cord.Plus management thinks that agreement with PPS will fast the process of RNL development and its regulatory approval in the future.

    Financial Overview of PSTV

    On February 22, 2021, PSTV announced its fourth quarter and fiscal year 2020 results according to which PSTV had an $8.3 million amount on hand as of December 30, 2021, as compared to a $17.6 million cash balance in 2019.Operating expenses in 2020 surged to $8.4 million from $5.9 million in 2019.PSTV net loss dropped to $8.2 million in 2020 while it was $11.4 million in the prior year.

    Conclusion:

    Investors are responding to PSTV stock after its master services agreement with PPS for the speedy development of RNL.Plus is expected to complete many clinical trials of its pipeline products in the upcoming quarters.Increase in operating expenses in 2020 suggests that PSTV stock is growing with time.Hence investors having long-term prospects need to keep an eye on it.

  • Why Plus Therapeutics Inc [NASDAQ: PSTV] Is a Good Buy at Current Prices

    Why Plus Therapeutics Inc [NASDAQ: PSTV] Is a Good Buy at Current Prices

    Plus Therapeutics Inc [NASDAQ: PSTV] has been trading in a bullish channel for months now. Yesterday, the stock gained some more upside momentum and closed the day with gains of 24%. Yesterday’s rally followed the company’s announcement that it had got fast track designation from the U.S FDA for its new Glioblastoma treatment.

    With the fast track designation, the company will now have access to a number of benefits. For starters, it will be in a position to hold more regular meetings with the FDA on issues touching on its drug development process.

    The company will also have regular communication from the FDA on many issues including the design of its upcoming clinical trials and the biomarkers that it will use in its process. On top of that, the company will be eligible for accelerated review and approval whenever it meets the laid down criteria.

    Most importantly, the company will be in a position to submit sections of its new drug application whenever they are completed rather than waiting for the entire application to be reviewed by the FDA. This puts the company in an advantageous position in its quest to develop and sell its new treatment for Glioblastoma.

    Commenting on the  fast track designation, the company CEO,  Dr,  Marc Hedrick stated that the award of a fast track designation was a validation of the company’s treatment’s potential for people suffering from recurring cases of glioblastoma, and do not have any viable treatment options at the moment. He added that now that the company had received the fast track designation, it planned on moving the trial to cohort, a major step toward making the new therapy a reality.

    From an investor perspective, the FDA fast track designation means that the company is close to unlocking a new revenue stream. This would have the effect of driving up the company’s value and the stock price. For this reason, buyers are likely to keep bidding up this stock in the near-term.

    The stock is also likely to be the uplifted by the increased optimism in the market. Stocks are on the rise on hopes of a potential COVID-19 vaccine in the near-term. In this environment, any stock that has good fundamentals stands to gain at a higher rate than the rest of the market.

    About Plus Therapeutics Inc

    Plus Therapeutics Inc is a pharmaceutical company that develops treatments for cancer and other ailments. It is based in Austin, Texas.