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PLUS THERAPEUTICS, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net loss of $2.9 million, compared to a net loss of $3.2 million in the same quarter the previous year.
Grant revenue for the quarter was $1.5 million, up from $1.2 million in the same quarter of the previous year, primarily from the CPRIT Grant for the development of rhenium (186Re) obisbemeda.
Research and development expenses increased to $2.9 million from $2.5 million in the previous year, driven by higher professional service fees and compensation expenses.
General and administrative expenses rose to $2.4 million from $2.0 million, mainly due to increased legal and professional fees.
Cash and cash equivalents at the end of the period were $1.2 million, down from $8.6 million at the end of 2023, reflecting a net cash use in operating activities of $9.3 million for the nine months ended September 30, 2024.
The company completed a private placement in May 2024, raising $7.3 million in gross proceeds, with warrants issued potentially providing an additional $12.0 million if fully exercised.
PLUS THERAPEUTICS is focused on developing targeted radiotherapeutics for central nervous system cancers, with ongoing clinical trials for its lead candidate, rhenium (186Re) obisbemeda.
The company is also developing the CNSide diagnostic portfolio acquired from Biocept, intended for commercial launch in late 2024.
PLUS THERAPEUTICS is addressing a Nasdaq listing compliance issue regarding its stockholders' equity and has until March 4, 2025, to regain compliance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PLUS THERAPEUTICS Inc. quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.