Why Did Plus Therapeutics (PSTV) Plunge 7.89% on Earnings Miss?

On March 28, 2025, Plus Therapeutics (PSTV) experienced a significant drop of 7.89% in pre-market trading, reflecting investor concerns over the company's recent financial performance and strategic developments.

Plus Therapeutics reported a quarterly loss of $0.67 per share for the fourth quarter of 2024, missing the Zacks Consensus Estimate of a loss of $0.51 per share. The company's operating loss for the year 2024 was $14.7 million, compared to $13.3 million in 2023. The net loss for 2024 was $13 million, or $0.95 per share, a slight improvement from the previous year's net loss of $13.3 million, or $4.24 per share.

Despite the financial setbacks, Plus Therapeutics is making progress with its Ryobiq drug, which has received FDA acceptance. The company's strategic initiatives, including securing $15 million in private placement, aim to bolster its financial position and advance its drug development pipeline. However, the market's reaction suggests that investors remain cautious about the company's ability to turn around its financial performance in the near term.