Why Did Plus Therapeutics Plunge 17.83% After Earnings?

On August 18, 2025, Plus Therapeutics experienced a significant drop of 17.83% in pre-market trading, reflecting a notable shift in investor sentiment towards the company.

Plus Therapeutics recently reported its second-quarter financial results, which included a GAAP EPS of -$0.01, beating estimates by $0.07, and revenue of $1.39 million, which fell short of expectations by $0.44 million. The company also announced that it has met the Nasdaq equity requirement to maintain its listing, with stockholders' equity in excess of $2.5 million.

In terms of business developments, Plus Therapeutics has made significant strides. The company has secured a $1.6 million advance from the Cancer Prevention and Research Institute of Texas (CPRIT) grant, which will support its ongoing research and development efforts. Additionally, Plus Therapeutics has initiated the REYOBIQ dose optimization trial for patients with leptomeningeal metastases, building on the recommended Phase 2 dose determined in a completed Phase 1 trial.

Plus Therapeutics has also launched its CNSide® CSF assay platform, which has shown promising results in detecting leptomeningeal metastases. The platform is now available in the state of Texas and will initially focus on NCI-Designated Cancer Centers and large private healthcare systems. The company plans to expand testing services and broaden its commercial reach in the coming months.