Austin, Texas – Plus Therapeutics, Inc. held an earnings conference call on May 15, 2024, discussing the company’s financial results for the first quarter. During the call, President and CEO Dr. Marc Hedrick, CFO Andrew Sims, and CMO Dr. Norman LaFrance highlighted recent corporate updates and clinical progress. Plus Therapeutics reported positive developments, including a private placement financing and a $3 million grant from the U.S. Department of Defense. These funds will support the company’s Phase 1/2 trial for pediatric patients with high-grade glioma and ependymoma.

Dr. Hedrick emphasized the company’s strategic use of external grants to advance preclinical and clinical development while minimizing shareholder dilution. The grant funding provides support for ongoing programs such as ReSPECT-LM and ReSPECT-GBM, both showing promising results in their respective trials. The company also announced additions to its management team, strengthening expertise in neurooncology and clinical operations.

In terms of clinical programs, updates were provided on the ReSPECT-LM Phase 1 trial for leptomeningeal metastases, showing positive enrollment and safety data. Investor interest in the LM program remains high, with plans to expand to additional sites for patient recruitment. Plus Therapeutics aims to present updated data at upcoming medical meetings, demonstrating progress and potential for LM therapeutic development.

The company also acquired CNSide, a diagnostic platform, to enhance leptomeningeal cancer diagnosis sensitivity. The acquisition offers commercial opportunities and complements Plus Therapeutics’ existing programs. Dr. LaFrance highlighted the value of CNSide in improving patient outcomes through accurate diagnostics and potential therapeutic guidance.

Furthermore, updates were provided on the ReSPECT-GBM trial, evaluating rhenium obisbemeda in patients with recurrent glioblastoma. Positive results from the Phase 2 trial demonstrated improved overall survival compared to standard care, showcasing the potential of the treatment in GBM. Plans for pivotal trials and discussions with the FDA are underway to advance the program.

Looking ahead, Plus Therapeutics outlined key events and milestones for 2024, including presentations at upcoming medical conferences and interactions with regulatory authorities. The company remains focused on advancing its pipeline, leveraging grant funding, and strategic acquisitions to drive therapeutic development in oncology.

In conclusion, the conference call highlighted Plus Therapeutics’ continued progress in advancing novel treatments for challenging cancers, showcasing the company’s commitment to innovation and patient care.