Wed, May 15, 8:04 PM (72 days ago)
Plus Therapeutics, Inc. reported a net loss of $3.3 million for Q1 2024, an improvement from $4.8 million in Q1 2023. The company’s cash and cash equivalents decreased to $2.9 million from $8.6 million at year-end 2023. Primary drivers of the loss included $2.8 million in R&D expenses and $2.2 million in G&A expenses. Additionally, Plus Therapeutics recognized $1.7 million in grant revenue from the Cancer Prevention and Research Institute of Texas (CPRIT) for its rhenium (186Re) obisbemeda development. The company’s working capital deficit increased to $6.2 million from $0.9 million due to reduced cash and increased liabilities. Key developments include a $7.25 million private placement in May 2024 and a $3 million Department of Defense grant for pediatric brain cancer research. The company faces substantial doubt about its ability to continue as a going concern but is actively seeking additional funding. Future plans involve progressing clinical trials for its lead drug candidate, rhenium (186Re) obisbemeda, targeting CNS cancers.