Plus Therapeutics (PSTV) Stock Rockets On Payment News!

Plus Therapeutics PSTV Stock News

Plus Therapeutics Inc (NASDAQ: PSTV) is making a run for the top in the market this morning, gaining more than 50%. The gains come after the company made an early morning announcement surrounding a large payment to be made by BARDA. Here’s what’s happening:

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PSTV Stock Rockets On BARDA Payment News

Plus Therapeutics is rocketing in the market this morning after announcing a large payment that will be received soon. The announcement came via press release in the premarket hours this morning.

In the release, PSTV said that it has received notice from the United States Department of Health and Human Services Office of the Assistant Secretary for Preparedness and Response Biomedical Advanced Research and Development Authority, also known as BARDA.

The company said that the notice informed it that based on retrospective changes in indirect cost rates under a contract dated September 27, 2012, BARDA has agreed to make a large payment. The payment in the amount of $4.6 million will be made to reimburse the company for work performed during the years 2012 through 2019.

In the release, PSTV said that it expects to receive the payment from BARDA in October of this year.

Why Investors Are Excited

The reason for all of the excitement surrounding Plus Therapeutics is reltively simple. $4.6 million is a lot of money, and a meaningful injection of funding for the company.

PSTV will have the funding required to get through several catalysts and continue to grow value for investors. So, it’s not surprise to see that excited investors are sending the stock screaming for the top.

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