Plus Therapeutics Charts Course with Key Clinical and Financial Milestones

Plus Therapeutics US72941H4002

Following a comprehensive business update in late January 2026, biopharmaceutical firm Plus Therapeutics has outlined its strategic priorities for the year. The company’s focus is firmly set on advancing its lead radiotherapeutic candidate and expanding the commercial footprint of its diagnostic platform.

To fund its operational goals, Plus Therapeutics completed a public offering of common stock and warrants in mid-January 2026. The placement was priced at $0.38 per unit, generating gross proceeds of approximately $15 million. Management indicated this capital infusion is designed to extend the company’s financial runway into 2027, covering the period for several pivotal clinical data readouts.

Reflecting the dilutive impact of this financing, analysts at H.C. Wainwright adjusted their price target for the stock on January 23, 2026, reducing it from $2.00 to $1.00. The firm maintained its "Buy" rating. In a separate development, Plus Therapeutics secured a $3 million grant from the U.S. Department of Defense. This funding will support a pediatric brain tumor study, with patient enrollment slated to commence at the Lurie Children’s Hospital in Chicago.

Advancing the REYOBIQ Clinical Pipeline

The development of REYOBIQ represents the core of the company’s pipeline. Near-term catalysts include topline data from the Phase 2 ReSPECT-LM trial, which is evaluating the treatment for leptomeningeal metastases. These results are anticipated in the third quarter of 2026.

Furthermore, Plus Therapeutics aims to complete patient enrollment for its Phase 2 ReSPECT-GBM study in recurrent glioblastoma during the first half of 2026. Data analysis from this trial is currently scheduled for the fourth quarter of the year. To prepare for potential subsequent pivotal studies, the company is scaling up its drug manufacturing capacity.

Regulatory Strategy and Diagnostic Commercialization

Plus Therapeutics recently held a Type-B meeting with the U.S. Food and Drug Administration (FDA), receiving guidance on the design of future registration studies. The agency recommended focusing on endpoints such as overall survival and patient-reported outcomes. The company is now incorporating this feedback into its clinical protocols to pave the way for a potential regulatory submission.

On the diagnostics front, Plus Therapeutics is broadening the commercial reach of its CNSide test. This proprietary assay detects tumor cells in cerebrospinal fluid. Through agreements with private payers, coverage is already in place for approximately 150 million insured individuals. For 2026, the company has set an annual order rate target exceeding 1,250 tests and is pursuing reimbursement from Medicare and Medicaid.

The upcoming valuation catalysts for the stock are the ReSPECT-LM clinical data in Q3 2026 and the completion of patient enrollment for the GBM study in the first half of the year.