Plus Therapeutics Q3 net loss widens

Overview

• Plus Therapeutics Q3 net loss widens to $4.4 mln from $2.9 mln last year

• Company received $1.9 mln advance from CPRIT for radiotherapeutic development

• Announced national coverage agreement with UnitedHealthcare for CNSide diagnostics

Outlook

• Plus Therapeutics plans to expand commercial team and footprint for CNSide in Q4

• Company aims to clarify REYOBIQ clinical development plan with FDA

• Plus Therapeutics to bolster financial position in capital markets

Result Drivers

• CNSIDE EXPANSION - Plus Therapeutics expanded commercial readiness for CNSide diagnostics, securing national coverage with UnitedHealthcare

• CPRIT GRANT - Received $1.9 mln advance payment from CPRIT for leptomeningeal cancer targeted radiotherapeutic development

• REYOBIQ TRIAL RESULTS - Presented positive ReSPECT-LM Phase 1 trial results showing promising efficacy for leptomeningeal metastases

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Plus Therapeutics Inc is $4.00, about 86.5% above its October 29 closing price of $0.54

Press Release: ID:nGNX3Z8V6c

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)