Plus Therapeutics Secures $15M in Private Placement, Bolstering R&D and Financial Stability

Plus Therapeutics, Inc. (Nasdaq: PSTV), a clinical-stage pharmaceutical company specializing in targeted radiotherapeutics for central nervous system (CNS) cancers, has secured a private placement of approximately $15 million in gross proceeds. This funding round, led by Aigh Capital Management, LLC, will enable the company to continue its mission of developing innovative therapies for rare and difficult-to-treat cancers while strengthening its financial position.



The private placement, which closed on May 11, 2024, consists of a $7.262078 million investment from Aigh Capital Management, LLC, and an additional $17.948504 million expected through the end of 2024. The proceeds will be used to fund the company's ongoing research and development efforts, clinical trials, and general corporate purposes, including the repayment of outstanding promissory notes and warrant repurchase.

Plus Therapeutics' latest funding round aligns with its long-term growth strategy and innovation focus in the biotech sector. The company has raised funding over multiple rounds, with a significant portion allocated to research and development expenses. This funding supports the company's ongoing clinical trials and R&D efforts, which are crucial for developing innovative therapies in the biotech sector.

The private placement also strengthens Plus Therapeutics' financial stability and runway for future operations. With the combination of the private placement proceeds, ongoing grant support, and the company's current cash balance, Plus Therapeutics should have sufficient runway to fund its operations into 2025, as mentioned by Marc H. Hedrick, M.D., the company's President and Chief Executive Officer.

In conclusion, Plus Therapeutics' latest financing round aligns with its long-term growth strategy and innovation focus in the biotech sector by providing funding for R&D, clinical trials, and expansion, as well as securing non-dilutive capital through grants. This funding supports the company's mission to develop innovative therapies for CNS cancers, ultimately contributing to the broader biotech sector's growth and innovation.