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HOUSTON - Plus Therapeutics, Inc. (NASDAQ:PSTV), a clinical-stage pharmaceutical company with a market capitalization of $11.87 million, has presented new data on its lead drug REYOBIQ™ for treating central nervous system (CNS) cancers at the recent Nuclear Medicine and Neurooncology Conference in Vienna, Austria. The company’s stock has shown significant momentum, gaining nearly 24% in the past week, according to InvestingPro data. The data, which includes findings from the Phase 1 ReSPECT-LM dose escalation trial for Leptomeningeal Metastases (LM), suggests safety and clinical benefits of the drug.
The trial data showed a dose-dependent increase in the absorbed dose to the cranial and spinal subarachnoid space, with the highest dose reaching 253Gy. Out of 17 patients, five showed a partial response to the treatment, while eight exhibited stable disease, resulting in a Clinical Benefit Rate of 76%. This clinical progress comes as InvestingPro reports that two analysts have revised their earnings upwards for the upcoming period, though the company currently operates with negative margins and is rapidly consuming cash reserves. Furthermore, 87% of subjects showed a clinical response based on physician evaluation. Notably, no dose-limiting toxicity was observed in the first four cohorts.
RNA sequencing data from the study indicated early tumor apoptosis and activation of innate immune responses, followed by an increase in T cells and an adaptive immune response by Day 28. Additionally, seven patients who achieved more than 80% reduction in LM tumor cells in the cerebrospinal fluid had five survivors at least one year post-treatment, with three receiving multiple doses under compassionate use.
LM is a rare yet usually terminal complication of cancer, with 1-year and 2-year survival rates of 7% and 3%, respectively. It can arise from various cancers, including breast, lung, GI, and melanoma, when the primary cancer spreads to the cerebrospinal fluid and leptomeninges. Currently, there are no FDA-approved therapies specifically for LM.
REYOBIQ™, a novel injectable radiotherapy, is designed to deliver targeted high-dose radiation safely and effectively to CNS tumors. The drug utilizes rhenium-186, a radioisotope suited for CNS therapeutic applications due to its short half-life and beta and gamma energy. While the company’s development efforts continue, InvestingPro analysis indicates the company’s overall financial health score remains weak at 1.61 out of 5, with current short-term obligations exceeding liquid assets. For deeper insights into Plus Therapeutics’ financial position and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. REYOBIQ™ is under evaluation for recurrent glioblastoma and LM in the ReSPECT-GBM and ReSPECT-LM clinical trials, supported by the National Cancer Institute and the Cancer Prevention & Research Institute of Texas, respectively.
This update on the development of REYOBIQ™ is based on a press release statement from Plus Therapeutics.
In other recent news, Plus Therapeutics Inc. reported its financial results for 2024, revealing grant revenues of $5.8 million, which fell short of the consensus estimate of $6.4 million. The company reported a net loss of $1.95 per share, aligning closely with the consensus estimate of a $1.94 per share loss. H.C. Wainwright adjusted the price target for Plus Therapeutics to $5.50 from $8.00, while maintaining a Buy rating on the stock. Additionally, Plus Therapeutics shared new data on its lead compound REYOBIQ™ for treating CNS cancers, showing a Clinical Benefit Rate of 75% in the Phase 1 ReSPECT-LM trial. The trial found no dose-limiting toxicity in the first four cohorts, although grade 4 thrombocytopenia was observed in later cohorts. The company also announced the appointment of Kyle Guse to its Board of Directors, who brings over 30 years of financial and legal experience. Plus Therapeutics is advancing its pipeline, focusing on leptomeningeal metastases and recurrent glioblastoma, supported by a strategic supply chain.
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