Plus Therapeutics, Inc. (PSTV) entered into the Master Services Agreement(MSA) with Piramal Pharma Solutions(PPS) today after which the PSTV stock price saw an uptrend of 45.26% to reach $3.98 a share as of this writing. Plus Therapeutics gained 3.40% at the previous closing and its per-share price was $2.74. Let’s see what the agreement says.
MSA with Piramal Pharma Solutions (PPS).
Plus Therapeutics, Inc. (PSTV) is a clinical-stage pharmaceutical company mainly focused on the treatment of cancer diseases. PSTV today announced its Master Services agreement with Piramal Pharma Solutions (PPS), leading contract development and manufacturing firm, to develop, manufacture, and supply Rhenium NanoLiposome (RNL™) which is an intermediate drug product of PSTV. According to this agreement, PSTV will transfer and perform its analytical methods at PPS’s drug product facility in Lexington, Kentucky along with the development of microbiological methods, intermediate drug manufacturing, and stability studies.
Future Impact of MSA
Plus Therapeutics is focused on the advancement of Rhenium NanoLiposome to make it a novel treatment for patients who are suffering glioblastoma, aggressive cancer often occurs in the brain or spinal cord.Plus management thinks that agreement with PPS will fast the process of RNL development and its regulatory approval in the future.
Financial Overview of PSTV
On February 22, 2021, PSTV announced its fourth quarter and fiscal year 2020 results according to which PSTV had an $8.3 million amount on hand as of December 30, 2021, as compared to a $17.6 million cash balance in 2019.Operating expenses in 2020 surged to $8.4 million from $5.9 million in 2019.PSTV net loss dropped to $8.2 million in 2020 while it was $11.4 million in the prior year.
Investors are responding to PSTV stock after its master services agreement with PPS for the speedy development of RNL.Plus is expected to complete many clinical trials of its pipeline products in the upcoming quarters.Increase in operating expenses in 2020 suggests that PSTV stock is growing with time.Hence investors having long-term prospects need to keep an eye on it.