Plus Therapeutics Boosts Cash by $15M, Expands CNSide Payer Coverage to 67 Million, Details 2026 Milestones
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Plus Therapeutics reported its 2025 financial results, including an increased net loss of $22.4 million, but significantly bolstered its cash position to $13.1 million following a $15 million public offering. The company announced substantial commercial progress for its CNSide diagnostic platform, securing national coverage agreements with Humana and UnitedHealthcare, now reaching approximately 67 million covered lives, and expanding laboratory licensing to 49 states. Additionally, Plus Therapeutics advanced its REYOBIQ clinical program by obtaining a CPT reimbursement code, incorporating positive FDA feedback, and presenting promising clinical data. The company outlined key 2026 milestones, including further CNSide commercial expansion to over 150 million covered lives and critical clinical trial data readouts for REYOBIQ in Q3 and Q4. This comprehensive update provides crucial financial stability and demonstrates significant operational and commercial momentum for the small biotech.
At the time of this announcement, PSTV was trading at $0.29 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $52.6M. The 52-week trading range was $0.16 to $2.08. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.