Wed, Aug 14, 8:33 PM (153 days ago)
For the quarter ended June 30, 2024, Plus Therapeutics, Inc. reported a net loss of $2.94 million, an increase from $1.48 million in the same period last year. The company generated $1.28 million in grant revenue, down from $1.85 million, while total operating expenses rose to $4.98 million from $3.34 million, primarily driven by increased research and development costs. Cash and cash equivalents decreased to $4.91 million from $8.55 million as of December 31, 2023. The company’s current liabilities surged to $18.79 million, up from $10.73 million, resulting in a working capital deficit of $9.41 million. Additionally, the company completed a $7.3 million private placement in May 2024 and drew $3.3 million from a credit facility. However, uncertainties remain regarding future capital raises, compliance with Nasdaq listing requirements, and the impact of ongoing clinical developments. The company anticipates increased operational expenses as it advances its clinical trials and product development initiatives.