Plus Therapeutics (PSTV) Stock Flies On Licensing Agreement

Plus Therapeutics PSTV Stock News

Plus Therapeutics Inc (NASDAQ: PSTV) stock is climbing in the market this morning. The stock is up more than 60% in the premarket this morning after the company announced a new licensing agreement. Here’s the scoop:

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PSTV Stock Is Climbing On Licensing Agreement

In the press release, Plus Therapeutics said that it entered into a definitive agreement to license multiple rare cancer drug product candidates. The company licensed the candidates from a private radiotherapeutic company known as NanoTx Therapeutics, Inc.

In the release, the company said that it made an upfront payment of $400,000 in cash. The company also paid $300,000 in PSTV voting stock. Moreover, the company agreed to pay $136.5 million in development and sales milestone payments as well as a tiered single-digit royalties on sales in the United States and Europe. It is expected that the transaction will close in the second quarter.

In the release, the company said that the licensed drug portfolio is anchored around nanoliposome-encapsulated radionuclides for various cancer targets. The lead asset in the portfolio is a chelated Rhenium NanoLiposome, or RNLTM. At the moment, the RNLTM is being developed as a potential option for recurrent glioblastoma.

In a statement, Dr. Marc Hedrick, President and CEO at PSTV, had the following to offer:

Dr. Brenner and his team have developed a very unique and promising novel cancer drug portfolio to address a significant number of unmet needs. Nanoliposome-encapsulated radionuclides are a natural extension of our pipeline and will become an increasing focus of our activities.

Why Investors Are So Excited

With the news announced today, Plus Therapeutics has greatly expanded its pipeline. Moreover, the agreement came with a relatively low up-front cost, offering yet another point of excitement.

Ultimately, with the announcement, PSTV now has multiple new candidates in various high-value oncology subsectors. All in all, this is a big day for the company and its investors.

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