PSTV Stock: From $2.60 To $2.84 (9.23% Increase) Pre-Market Explanation

By Amit Chowdhry ● May 4, 2021
  • The stock price of Plus Therapeutics Inc (NASDAQ: PSTV) went from $2.60 to $2.84 (up 9.23%) pre-market. This is why it happened.

The stock price of Plus Therapeutics Inc (NASDAQ: PSTV) – a clinical-stage pharmaceutical company developing novel, targeted therapies for rare and difficult to treat cancers – went from $2.60 to $2.84 (up 9.23%) pre-market. Investors are responding positively to Plus Therapeutics announcing 2 collaboration agreements to support its process development and analytical chemistry activities for the cGMP manufacturing of Rhenium NanoLiposome (RNL), the company’s lead investigational asset in clinical development for recurrent glioblastoma.

And Plus Therapeutics signed a pre-clinical, clinical, and process development agreement with Invicro LLC (a Konica Minolta company), a global provider of imaging biomarkers, core lab services, advanced analytics and software solutions for drug discovery and development with best-in-class expertise in radiochemistry. Through this agreement, Invicro will characterize the current manufacturing process and develop in-process manufacturing controls for the RNL active pharmaceutical ingredient (API) and final drug product and provide future clinical trial imaging support and drug development consulting.

Plus Therapeutics also entered into an agreement with Eurofins BioPharma, a market leader in analytical chemistry for discovery pharmacology and advanced materials sciences. And Eurofins will develop and validate test methods for purity, composition, and identity of Re-BMEDA, the API in RNL™. These test methods will support release testing and compliance with cGMP requirements for new drug substances.

As previously disclosed, Plus Therapeutics had entered into a master services agreement with Piramal Pharma Solutions for the development, manufacture, and supply of RNL intermediate of the drug product.

KEY QUOTE:

“Process optimization and appropriate quality controls of investigational compounds are very critical aspects in bringing novel drugs to markets. We have identified two best-in-class partners in Invicro and Eurofins to help us get one step further in bringing RNL to a registrational clinical trial and ultimately commercial supply.”

— Marc H. Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.