On September 22, 2025 Plus Therapeutics, Inc. (Nasdaq: PSTV) (the "Company"), a clinical-stage pharmaceutical company developing targeted radiotherapeutics with advanced platform technologies for central nervous system (CNS) cancers, reported that the Company received notice of an additional advance payment from the Cancer Prevention and Research Institute of Texas (CPRIT), the second-largest public cancer research funder globally (Press release, Plus Therapeutics, SEP 22, 2025, View Source;_hsenc=p2ANqtz-9FE0VkS0lXyVYLeYUX_e8OPwY_tMBw4qcG1ikTgGaPNR7TS1e_6ZHFTELAxFZVszjULgsem3LXhrctDaOQfJKZLO2kJw&_hsmi=381576755&utm_content=381576755&utm_source=hs_email [SID1234656154]). This $1.9 million payment is part of the Company’s previously awarded $17.6 million grant and is the second non-dilutive financing received from CPRIT following the $1.6 million receipt announced in July 2025.
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"Continued payments from CPRIT are supportive to our radiotherapeutic development initiatives, with a further $1.9 million in funding expected over the next 12 months, providing a steady source of significant non-dilutive financing," said Andrew Sims, Plus Therapeutics Chief Financial Officer. "The support from CPRIT builds on our active National Institutes of Health and Department of Defense grants, reflecting strong commitment for our clinical programs from strategic institutions. We continue to actively pursue additional grant opportunities to strengthen our capital position."
The funding supports and accelerates the Company’s clinical development of REYOBIQ for the ReSPECT-LM dose optimization trial and further develops the Company’s CNSide LM diagnostic test as a key pivotal trial endpoint.
About LM
Leptomeningeal metastases (LM) are a rare but severe complication of advanced cancer, affecting the fluid-lined structures of the central nervous system. LM occurs in approximately 5% of patients with metastatic cancer, with breast cancer, lung cancer, and melanoma being the most common sources. Median survival is typically 2-6 months, and effective treatment options are limited, highlighting the urgent need for novel therapies.
About REYOBIQ (rhenium Re186 obisbemeda)
REYOBIQ (rhenium Re186 obisbemeda) is a novel injectable radiotherapy specifically formulated to deliver direct targeted high dose radiation in CNS tumors in a safe, effective, and convenient manner to optimize patient outcomes. REYOBIQ has the potential to reduce off target risks and improve outcomes for CNS cancer patients, versus currently approved therapies, with a more targeted and potent radiation dose. Rhenium-186 is an ideal radioisotope for CNS therapeutic applications due to its short half-life, beta energy for destroying cancerous tissue, and gamma energy for real-time imaging. REYOBIQ is being evaluated for the treatment of recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancer in the ReSPECT-GBM, ReSPECT-LM, and ReSPECT-PBC clinical trials. ReSPECT-GBM is supported by an award from the National Cancer Institute (NCI), part of the U.S. National Institutes of Health (NIH), and ReSPECT-LM is funded by a three-year $17.6M grant by the Cancer Prevention & Research Institute of Texas (CPRIT). The Company’s ReSPECT-PBC clinical trial for pediatric brain cancer is supported by a $3 million grant from the U.S. Department of Defense’s Peer Reviewed Cancer Research Program.