Medicare Enrollment Approved for Plus Therapeutics' CNSide Diagnostic, Paving Way for Reimbursement
PSTV has more than doubled off its 52-week low of $2.9.
Summary
Plus Therapeutics has received Medicare enrollment approval for its CNSide diagnostic, enabling the company to submit claims for its CNSide CSF Assay Platform with a CPT code 0640U payment rate effective July 1, 2026. This is a significant positive development, especially for a company that recently disclosed substantial net losses and going concern doubts in its last 10-K. The approval provides a clear path to reimbursement for a key product, expanding market access beyond the recent Blue Shield of California agreement. This move is crucial for generating much-needed revenue and improving the company's financial stability. Traders will be watching for updates on actual revenue generation from CNSide after the July 1 billing date and its impact on the company's overall financial health.
At the time of this announcement, PSTV was trading at $6.34 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $41.2M. The 52-week trading range was $2.90 to $23.43. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.