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Here’s why Plus Therapeutics, Inc. (PSTV) Stock Dipped in the Aftermarket

Plus Therapeutics, Inc. (PSTV) is a leading oncology related clinical-stage biotherapeutics company. The company is engaged in the development of radiotherapeutic products. The leading drug candidate product is Rhenium-186 NanoLiposomes in Phase 1 trials for treating recurrent glioblatoma. Another lead product is DaxoPLUS for treating ovarian cancer patients. DocePLUS is used to treat solid tumors.

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The price of PSTV stock during the regular trading on January 6, 2022, was $1.32 with a slight incline of 2.33%. At last check in the aftermarket, the stock declined by 4.55%.

PSTV: Events and Happenings

On January 06, 2022, PSTV reported about its entry into a collaboration with The University of Texas Health Science Center for a global exclusive license for the development and commercialization of innovative interventional therapeutics for cancer.

PSTV: CEO Comments

Speaking at the occasion, Marc H. Hedrick, CEO of PSTV said that the recent transaction had expanded the Rhenium NanoLiposome technology and it also helped in realizing its future. He further added that the company is able to target solid organ tumor in the patient’s body by the use of standard interventional methods.

On January 04, 2022, PSTV reported about the achievement of two important milestones progressing towards RNL production. PSTV had entered into a master services agreement with IsoTherapeutics Group for the production and distribution of RNL. In addition, the company also completed the tech transfer of analytical test protocols for RNL product intermediate with Piramal Pharma Solutions.

On December 02, 2021, PSTV reported that the company’s Executives presented at the MedInvest Oncology Investor Conference on December 7th, 2021. On November 18, 2021, PSTV reported about the release of positive interim data of RNL at the 2021 Society for Neuro-Oncology Annual Meeting and Education Day regarding its first-in-man Phase 1 trial.

On November 09, 2021, PSTV reported that FDA had granted Fast Track designation for RNL to the company. On November 03, 2021, PSTV reported about hosting a key opinion leader roundtable discussion on the ReSPECT-GBM clinical trial on November 18, 2021. On October 27, 2021, PSTV reported about the presentation of data regarding RNL at the Annual Meeting of the American Society for Radiation Oncology 2021. The company indicated that RNL improved delivery outcomes to the targeted parts.

PSTV: Key Financials

On October 21, 2021, PSTV reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows

Net Loss per Share

Basic and diluted net loss for Q3 2021 was $3.7 million, or $0.28 per share as compared to the same period of 2020 when it was $1.7 million, or $0.39 per share.

Assets

Total current assets of the company for Q3 2021 were $22 million.

Conclusion

PSTV stock is 46% down as compared to the last six months, yet the company’s stock showed progress in regular trading. But in the current aftermarket session, the stock once again tumbled after the company’s announcement regarding the expansion of the oncological related drug pipeline. The analysts are optimistic that the company’s stock will bounce back quickly.

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