Q2 2024 Plus Therapeutics Inc Earnings Call Transcript
Key Points
- Plus Therapeutics Inc (PSTV) presented significant clinical progress at the 2024 Society for Neuro-Oncology and combined American Society for Clinical Oncology CNS Metastases Conference.
- The ReSPECT-LM trial showed promising safety and efficacy data, with no dose-limiting toxicities and a median overall survival of 12 months, which is encouraging compared to the typical survival rates of two to six months for leptomeningeal metastases (LM).
- The CNSide diagnostic tool demonstrated high sensitivity and specificity, influencing treatment decisions in over 90% of clinical cases and identifying actionable mutations in 24% of therapeutic selections.
- The company received substantial non-dilutive funding, including an $18 million product development award from CPRIT and a $3 million award from the US Department of Defense for pediatric brain cancer trials.
- Plus Therapeutics Inc (PSTV) is expanding its clinical trial sites and capabilities, with new sites expected to enroll patients soon, enhancing the potential for faster trial completion and broader data collection.
- The cash and investments balance decreased slightly to $8.4 million as of June 30, 2024, compared to $8.6 million at the end of 2023.
- Total operating loss for the first half of 2024 increased to $7 million from $6.2 million in the same period of 2023, primarily due to increased spending on the ReSPECT-LM trial.
- The company faces uncertainties and risks related to the approval and implementation of new trial protocols, which could impact the timeline and success of ongoing studies.
- Enrollment for the ReSPECT-GBM trial may extend into the first half of 2025, potentially delaying the completion and subsequent data analysis.
- The company is still in the process of scaling up its CNSide diagnostic capabilities and obtaining CLIA certification, which could delay the commercial availability of the test.
Good afternoon, ladies and gentlemen. Welcome to Plus Therapeutics' second-quarter 2024 results conference call.
Before we begin, we want to advise you that over the course of the call, including any question-and-answer session, forward-looking statements will be made regarding events, trends, business prospects, and financial performance, which may affect Plus Therapeutics' future operating results and financial position. All such statements are subject to risks and uncertainties, including the risks and uncertainties described under the Risk Factors section included in Plus Therapeutics' annual report on Form 10-K and quarterly report on Form 10-Q filed with the Securities and Exchange Commission from time to time.
Plus Therapeutics advises you to review these risk factors in considering such statements. Plus Therapeutics assumes no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made.
It is now my pleasure to turn the floor over to Dr. Marc Hedrick, Plus Therapeutics' President and Chief
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