Plus Therapeutics Inc. (PSTV) stock prices surged 16.84% to USD$2.22 in the current market trading following disclosure of the company’s strategic partnership with Radiomedix.
PSTV Stock Partners with RadioMedix
September 2nd, 2021 saw PSTV stock announce having entered into an agreement with RadioMedix for the commercial production of the company’s radiopharmaceuticals. The partnering company is a global leader in the development and production of GMP radiopharmaceutical products. The strategic collaboration serves to support the company’s efforts to have fully compliant RNL available by mid-2022. The RNL will be used in a potential Phase 2/3 clinical study in adults with recurrent glioblastoma (GBM).
Manufacturing of RNL
The partnering company is the new GMP manufacturing arm of Plus Therapeutics, with plans to participate in the development of RNL. RNL is a promising radiotherapeutic for central nervous system tumors. RadioMedix has made investments in state-of-the-art facilities for radiopharmaceutical manufacturing and a team of highly trained experts. This investment emphasizes the company’s commitment to delivering positive customer experiences across all phases of radiopharmaceutical development and commercial manufacturing.
Terms of the Agreement
As per the agreement, RadioMedix will be responsible for the production of the cGMP drug product. The product will be designed to meet all applicable requirements of the U.S Food and Drug Administration, as well as all similar global regulatory entities. The strategic collaboration serves to further secure the commercial supply chain for RNL, while extending to future products under the RNL platform.
Scope of PSTV Stock’s Collaboration
The development of RNL is hoped to address the need to treat recurrent GBM, leptomeningeal metastases, and pediatric brain cancer. It has been designed to safely, effectively, and conveniently delivery high doses of radiation to rare and central nervous tumors. PSTV stock is currently enrolling patients with recurrent GBM in the United States NIH-supported multi-center ReSPECT-GBM Phase 1 dose-finding clinical trial.
Future Outlook for PSTV Stock
The company reported a strong quarter, evidenced by the strength of its most recent financial reports, further consolidated by its partnership with RadioMedix. PSTV stock is poised to capitalize on the expanded scope of opportunities presented to it, as management takes steps to effectively leverage the resources at their disposal. Current and potential investors are hopeful that this will result in significant and sustained increases in shareholder value.
