Plus Therapeutics

Plus Therapeutics, Inc. (Nasdaq: PSTV) is a clinical-stage pharmaceutical company, headquartered in Houston, Texas, focused on developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system (CNS). The company, formerly known as Cytori Therapeutics, Inc., shifted its focus and changed its name in 2019, divesting its prior autologous cell therapy assets to concentrate on nanomedicine and radiopharmaceuticals. This strategic pivot was driven by the acquisition of a nanomedicine platform in 2017 and subsequent licensing of an oncology platform in 2020.

The company is led by President and CEO, Marc H. Hedrick, M.D., a trained surgeon with prior executive roles at Cytori Therapeutics and StemSource, Inc. His background includes serving as an Associate Professor of Surgery and Pediatrics at UCLA, where he also co-directed the Laboratory of Regenerative Bioengineering and Repair, blending deep clinical and research experience with an MBA from The Anderson School at UCLA.

Plus Therapeutics' business model centers on the clinical development and eventual commercialization of its product candidates. As a pre-revenue clinical-stage company, its operations are funded through a combination of public stock offerings, strategic partnerships, and significant non-dilutive grant funding, including a notable $17.6 million grant from the Cancer Prevention and Research Institute of Texas (CPRIT). The company operates on a capital-efficient, hybrid virtual drug development model, collaborating with a network of scientists and cancer institutions. A key part of its strategy includes the 2025 commercial launch of its CNSide® diagnostic platform, a cerebrospinal fluid (CSF) assay to detect tumor cells that have metastasized to the CNS, addressing an estimated $6 billion market.

The company's core technology is a radiotherapeutic platform that combines Rhenium radioisotopes with a novel nanoliposome delivery system. Its lead drug candidate, REYOBIQ™ (Rhenium-186 Nanoliposome or 186RNL), is designed to deliver high-dose, localized beta radiation directly to tumors while minimizing exposure to healthy tissue. The Rhenium-186 isotope is chelated and encapsulated within a 100-nanometer liposome, which allows it to accumulate and be retained in tumor tissue for days. A unique feature of Rhenium-186 is its emission of both beta energy for destroying cancer cells and gamma energy, which enables real-time imaging to track drug delivery and distribution. This platform is being evaluated in several NIH-supported ReSPECT clinical trials for treating recurrent glioblastoma (GBM), leptomeningeal metastases (LM), and pediatric brain cancers. The FDA has granted REYOBIQ™ Orphan Drug and Fast Track designations for glioblastoma and leptomeningeal metastases.

Keywords: radiotherapeutics, clinical-stage pharmaceutical, central nervous system cancers, glioblastoma, leptomeningeal metastases, pediatric brain cancer, Rhenium-186 Nanoliposome, REYOBIQ, Marc Hedrick, Nasdaq: PSTV, nanomedicine, targeted cancer therapy, oncology, ReSPECT clinical trials, CNSide diagnostics, cerebrospinal fluid assay, CPRIT grant, drug delivery platform, theranostics, beta radiation, gamma imaging, orphan drug designation