Quarterly ResultMay 15, 2026, 04:07 PM
Plus Therapeutics Q1 Revenue $1.0M; Cash $15.1M; FDA Orphan Drug
AI Summary
Plus Therapeutics reported Q1 2026 financial results, including $1.0 million in revenue and a net loss of $6.9 million. The company significantly strengthened its financial position with a $15 million public offering, increasing cash and investments to $15.1 million. Key business highlights include receiving U.S. FDA Orphan Drug Designation for REYOBIQ in pediatric malignant gliomas, securing a CPT reimbursement code for REYOBIQ, and expanding CNSide payer coverage to approximately 81 million lives. The company reaffirmed its 2026 milestones, focusing on CNSide commercial scale-up and REYOBIQ pivotal-trial readiness.
Key Highlights
- Completed an upsized public offering generating $15 million in gross proceeds.
- Cash and investments balance was $15.1 million as of March 31, 2026.
- Recognized $1.0 million in revenue in the first quarter of 2026.
- Total operating loss for Q1 2026 was $7.1 million, compared to $3.5 million YoY.
- Net loss for Q1 2026 was $6.9 million, or $1.05 per basic share.
- Granted U.S. FDA Orphan Drug Designation for REYOBIQ in pediatric malignant gliomas.
- Expanded CNSide payer coverage to approximately 81 million covered lives.
- Strengthened leadership team with three senior appointments.
Price Impact
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