Plus Therapeutics, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Plus Therapeutics, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial status and corporate activities.</b>

AI Summary

PLUS THERAPEUTICS, INC. (PSTV) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. Plus Therapeutics, Inc. filed a 10-Q report for the period ending March 31, 2024. The company was formerly known as Cytori Therapeutics, Inc. and Macropore Inc. Key agreements mentioned include the NanoTx Licenses Agreement and the Biocept Agreement. Financial instruments such as Series F Preferred Stock, Series U Warrants, and Series C Convertible Preferred Stock are noted. The filing references a Term Loan and a Purchase Agreement with Lincoln Park Capital Fund, LLC.

Why It Matters

For investors and stakeholders tracking PLUS THERAPEUTICS, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Plus Therapeutics, Inc. during the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's financial health, ongoing research and development, and potential future growth prospects.

Risk Assessment

Risk Level: medium — PLUS THERAPEUTICS, INC. shows moderate risk based on this filing. The company's financial disclosures, including details on preferred stock, warrants, and term loans, suggest a complex financial structure that warrants careful review for potential risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to understand the company's current financial position and future outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-15 — Filing Date (FILED AS OF DATE)
• 001-34375 — SEC File Number (SEC FILE NUMBER)
• 330827593 — IRS Number (IRS NUMBER)
• 737.255.7194 — Business Phone (BUSINESS PHONE)
• 2005-07-12 — Date of Name Change (FORMER COMPANY)
• 2001-03-20 — Date of Name Change (FORMER COMPANY)
• 2020-03-29 — NanoTx Licenses Agreement Date (NanoTxLicensesAgreementMember)

Key Players & Entities

• PLUS THERAPEUTICS, INC. (company) — FILER
• CYTORI THERAPEUTICS, INC. (company) — FORMER COMPANY
• MACROPORE INC (company) — FORMER COMPANY
• Lincoln Park Capital Fund, LLC (company) — FINANCIAL INSTRUMENT REFERENCE
• NanoTx Licenses Agreement (company) — AGREEMENT MENTIONED
• Biocept Agreement (company) — AGREEMENT MENTIONED
• Series F Preferred Stock (dollar_amount) — FINANCIAL INSTRUMENT
• Term Loan (dollar_amount) — FINANCIAL INSTRUMENT

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q report was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition between annual reports.)

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 PSTV Nasdaq Capital Market Indica
• $7.25 m — gregate gross proceeds of approximately $7.25 million, before deducting certain expense

Filing Documents

• pstv-20240331.htm (10-Q) — 1204KB
• pstv-ex31_1.htm (EX-31.1) — 13KB
• pstv-ex31_2.htm (EX-31.2) — 11KB
• pstv-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-060395.txt (&nbsp;) — 5024KB
• pstv-20240331.xsd (EX-101.SCH) — 977KB
• pstv-20240331_htm.xml (XML) — 483KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Balance Sheets 4 Condensed Statements of Operations 5 Condensed Statements of Stockholders' Equity/(Deficit ) 6 Condensed Statements of Cash Flows 7 Notes to Condensed Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 6. Exhibits 31 2 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q and the exhibits incorporated herein by reference contain "forward-looking statements" which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements other than statements of historical fact constitute "forward-looking statements." These forward-looking statements do not constitute guarantees of future performance. These forward-looking statements may be identified by terms such as "intend," "expect," "project," "believe," "anticipate," "initiate," "will," "should," "would," "could," "may," "designed," "potential," "evaluate," "hypothesize," "plan," "progressing," "proceeding," "exploring," "opportunity," "hopes," "suggest," and similar expressions, or the negative of such expressions. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. These statements include, without limitation, statements about our anticipated expenditures, including research and development, and general and administrative expenses; our strategic collaborations and license agreements, intellectual property, U.S. Food and Drug Administration and European Medicines Agency approvals and interactions and government regulation; the potential size of the market for our product candidates; our research and development efforts; results from our pre-clinical and clinical studies and the implications of such results regarding the efficacy or safety of our product candidates; the safety profile, pathways, and efficacy of our product candidates and formulat

FINANC IAL INFORMATION

PART I. FINANC IAL INFORMATION

Financ ial Statements

Item 1. Financ ial Statements PLUS THERAPEUTICS, INC. CONDEN SED BALANCE SHEETS (UNAUDITED) (in thousands, except share and par value data) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 2,901 $ 8,554 Investments 323 — Other current assets 989 1,280 Total current assets 4,213 9,834 Property and equipment, net 800 906 Operating lease right-use-of assets 171 202 Goodwill 372 372 Intangible assets, net 33 42 Other assets 32 32 Total assets $ 5,621 $ 11,388 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued expenses $ 6,447 $ 6,631 Operating lease liability 115 120 Deferred grant liability 247 — Term loan obligation, current 3,590 3,976 Total current liabilities 10,399 10,727 Noncurrent operating lease liability 59 85 Deferred grant liability — 1,924 Total liabilities 10,458 12,736 Commitments and contingencies (Note 8) Stockholders' deficit: Preferred stock, $ 0.001 par value; 5,000,000 shares authorized; 1,952 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Common stock, $ 0.001 par value; 100,000,000 shares authorized; 4,522,656 and 4,264,231 issued and outstanding at March 31, 2024, and 4,522,656 issued and 4,444,097 outstanding as of December 31, 2023, respectively 5 5 Treasury stock (at cost, 258,425 and 78,559 shares as of March 31, 2024 and December 31, 2023, respectively) ( 500 ) ( 126 ) Additional paid-in capital 479,420 479,274 Accumulated deficit ( 483,762 ) ( 480,501 ) Total stockholders' deficit ( 4,837 ) ( 1,348 ) Total liabilities and stockholders' deficit $ 5,621 $ 11,388 See Accompanying Notes to these Condensed Financial Statements 4 PLUS THERAPEUTICS, INC. CONDENSED STATEMENTS OF OPE RATIONS (UNAUDITED) (in thousands, except shar

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