Business
Plus Therapeutics Reports Second Quarter 2020 Financial and Business Results
AUSTIN, Texas, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), today announced financial and business results for
About this update from Plus Therapeutics, Inc.
[{"type":"text","content":"AUSTIN, Texas, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), today announced financial and business results for its Second Quarter Fiscal Year 2020 ended June 30, 2020.\n Q2 2020 net loss was $1.8 million, or $0.45 per share, including payments to NanoTx LLC of $0.78 million. Net cash used in operating activities for the six months ended June 30, 2020 was approximately $2.9 million. Plus Therapeutics ended Q2 2020 with approximately $9.3 million of cash and cash equivalents. The Plus Therapeutics portfolio has three clinical-stage injectable drugs being developed on a unique nanotechnology platform designed to provide patient benefits through improved formulation and delivery innovation. The Company believes the platform can enable significant potential enhancements of safety, efficacy and convenience for oncology patients and their health providers compared to current standards of care. The lead investigational drug in the Company’s licensed radiotherapeutic portfolio is Rhenium NanoLiposomes (RNL™), a nanoliposome-encapsulated radionuclide for several cancer targets. Initially being developed for the treatment of recurrent glioblastoma, RNL is being evaluated in the U.S. NIH/NCI-supported, multi-center ReSPECT™ Phase 1 dose-finding clinical trial (NCT01906385). RNL is designed to safely, effectively, and conveniently deliver a very high dose of radiation directly into the brain tumor that is up to 25 times greater than that currently being given to recurrent glioblastoma patients using external beam radiation therapy. H2 2020 Business Expansion Outlook The first half of Fiscal Year 2020 marked the successful implementation of the Company’s refined development focus, initial pipeline expansion and optimized cost structure. In the second half of Fiscal Year 2020, the Company intends to focus on a number of additional business objectives and potential milestones: Report preliminary RNL™ data from the ReSPECT Phase I dose finding trial in recurrent glioblastomaFinalize RNL Phase 2/pivotal trial plan in recurrent glioblastomaSeek RNL Orphan Drug Designation decisions from regulatory agenciesComplete evaluations of additional external and internal drug development candidatesInitiate IND-enabling RNL studies for additional indicationsExplore partnership opportunities for RNL, DocePLUS and D...