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PSTV

Plus Therapeutics, Inc.

PSTV

Plus Therapeutics, Inc. • NASDAQ
$0.61 ▲ 1.81% (+0.01)
Market Cap $36.84 M
52w High $2.31
52w Low $0.16
Dividend Yield 0%
P/E -0.63
Volume 3.43M
Outstanding Shares 60.49M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.397M ▲ $5.793M ▲ $-4.423M ▼ -316.607% ▼ $-0.04 ▼ $-4.337M ▼
Q2-2025 $1.39M ▲ $2.842M ▼ $5.151M ▲ 370.576% ▲ $0.025 ▲ $5.272M ▲
Q1-2025 $1.059M ▼ $4.414M ▼ $-17.401M ▼ -1.643K% ▼ $-1.19 ▼ $-13.461M ▼
Q4-2024 $1.412M ▼ $5.08M ▲ $-3.903M ▼ -276.416% ▼ $-0.5 ▼ $-3.614M ▼
Q3-2024 $1.456M $5.023M $-2.874M -197.39% $-0.37 $-2.581M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.289M ▲ $18.67M ▲ $13.616M ▲ $5.054M ▲
Q2-2025 $6.879M ▼ $10.35M ▼ $7.316M ▼ $3.034M ▲
Q1-2025 $9.867M ▲ $12.056M ▲ $35.697M ▲ $-23.641M ▼
Q4-2024 $3.606M ▼ $6.633M ▼ $15.582M ▲ $-8.949M ▼
Q3-2024 $4.788M $6.978M $12.152M $-5.174M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.423M ▼ $-2.548M ▲ $1.297M ▲ $12.307M ▲ $11.056M ▲ $-2.575M ▲
Q2-2025 $5.151M ▲ $-5.798M ▲ $-4.632M ▼ $2.796M ▼ $-7.634M ▼ $-5.805M ▲
Q1-2025 $-17.401M ▼ $-6.172M ▼ $3.558M ▲ $12.405M ▲ $9.791M ▲ $-6.175M ▼
Q4-2024 $-3.903M ▼ $-1.211M ▲ $64K ▲ $0 $-1.147M ▲ $-1.222M ▲
Q3-2024 $-2.874M $-3.68M $-9K $0 $-3.689M $-3.694M

Revenue by Products

Product Q1-2023Q3-2023Q2-2024Q3-2024
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Plus Therapeutics is still essentially a pre‑revenue biotech. Reported sales are negligible, and the company has been running consistent operating and net losses for several years. The loss levels appear relatively steady rather than rapidly worsening, but there is no sign yet of scale or commercial traction from its pipeline. Earnings per share look heavily negative, which is also influenced by multiple reverse stock splits over time. Overall, the income statement reflects a typical early‑stage drug developer: research and operating costs with no meaningful product revenue yet.

Balance Sheet

Balance Sheet The balance sheet is very small and quite thin. Cash and total assets are modest and have actually trended down, while shareholder equity recently slipped into slightly negative territory, suggesting liabilities now marginally exceed assets. Historical use of some debt has been reduced, but that does not remove the underlying constraint: the company has limited financial cushion and depends on external capital and non‑dilutive funding to keep advancing its programs. Financial flexibility is therefore constrained, and dilution or new funding arrangements are an ongoing structural risk.

Cash Flow

Cash Flow Cash flow is driven almost entirely by operating losses, with a steady cash drain each year and effectively no spending on large physical assets. This pattern is consistent with a lean, R&D‑focused biotech model, but it also means that, without new funding, the company’s runway is naturally limited. There is no internal cash generation from product sales yet, so operations, trials, and commercialization efforts will continue to rely on equity raises, grants, partnerships, or other financing sources.

Competitive Edge

Competitive Edge Competitively, Plus Therapeutics sits in a narrow, specialized segment of oncology: targeted radiotherapeutics for very hard‑to‑treat cancers of the brain and central nervous system, plus a preclinical program in liver cancer. Its use of rhenium isotopes, which allow both treatment and real‑time imaging, and its focus on localized delivery into or near tumors provide a clear scientific angle versus more traditional chemotherapy, systemic targeted drugs, or existing radioembolization products. The integrated CNSide diagnostic platform is a potential differentiator, creating a link between identifying the right patients and treating them. However, the company is tiny compared with large oncology players, its drugs are still in clinical or preclinical stages, and success will depend heavily on trial outcomes, regulatory decisions, and the ability to stand out in markets where larger, well‑funded competitors also operate.

Innovation and R&D

Innovation and R&D Innovation is the core of the Plus Therapeutics story. The lead candidate, a rhenium‑based nanoliposome therapy for central nervous system cancers, aims to deliver high doses of radiation directly to tumors while sparing healthy tissue, and early clinical signals have been encouraging enough to support discussions with the FDA about a pivotal trial. The second platform, using biodegradable microspheres for liver cancer radioembolization, is designed to improve on existing permanent beads with a potentially safer, resorbable approach, but it remains at the preclinical stage. The CNSide diagnostic business adds a commercial‑ready R&D extension, with plans for launch that could bring earlier revenue and a data feedback loop for the therapeutics program. Overall, the pipeline is focused, science‑driven, and capital‑efficient, but still early and high‑risk, with substantial clinical and regulatory hurdles ahead.

Summary

Plus Therapeutics is a very early‑stage, niche oncology biotech with interesting radiopharmaceutical technology but a fragile financial base. The company has almost no revenue, consistent operating losses, and a thin balance sheet, making access to ongoing funding a central concern. On the strategic side, it targets rare, high‑need brain and CNS cancers with a differentiated rhenium platform and is building an ecosystem that ties together precision diagnostics and targeted therapies. Future value will hinge on several uncertain milestones: successful late‑stage trials, regulatory approvals, effective commercialization of the CNSide diagnostic, and the ability to secure partnerships or financing without overly burdening existing shareholders. The business profile is therefore high‑potential but also high‑uncertainty, consistent with many small, clinical‑stage biotech firms.

NEWS

November 24, 2025 · 7:30 AM UTC

Plus Therapeutics Announces Completion of U.S. FDA Meeting on Future Clinical Development Plans for REYOBIQ™ in Leptomeningeal Metastases

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November 20, 2025 · 7:30 AM UTC

Plus Therapeutics Secures National Coverage Agreement with Humana for CNSide® Cerebrospinal Fluid Assay for Metastatic CNS Cancer

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November 17, 2025 · 7:30 AM UTC

Plus Therapeutics Granted 180-Day Extension to Regain Compliance with Nasdaq's Minimum Bid Price Requirement

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November 6, 2025 · 7:30 AM UTC

Plus Therapeutics Highlights ReSPECT-LM Clinical Trial Results at 40th SITC Annual Meeting, Melanoma Research Foundation Brain Metastases Summit 4.0

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October 30, 2025 · 4:15 PM UTC

Plus Therapeutics Reports Third Quarter Financial Results and Recent Business Highlights

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