AUSTIN, Texas, May 14, 2020 (GLOBE NEWSWIRE) — Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”), today announced financial and business results for its first quarter fiscal year 2020 ended March 31, 2020.
Fiscal 2020 first quarter net loss from continuing operations was $1.1 million, or $0.28 per share.  Net cash used in operating activities for Q1 2020 was approximately $1.5 million. Plus Therapeutics ended Q1 2020 with approximately $16.1 million of cash and cash equivalents.“The first quarter of 2020 was a very important quarter for the Company as we announced the licensing of multiple rare cancer product candidates, including a very novel radiotherapeutic for glioblastoma and potentially multiple other cancers,” said Dr. Marc Hedrick, President and Chief Executive Officer of Plus Therapeutics, “For the remainder of 2020, we will focus on completing the enrollment of our ongoing Phase I trial, further expanding our pipeline and seek expanded partnership that can help support our development activities.”Plus Therapeutics entered Q1 2020 after completing a significant corporate transitional year in 2019, in which key financial transactions and changes to our pipeline were accomplished. We also completed a comprehensive corporate rebrand and relocated the company to Texas. The transition also provided the company with an improved financial position and a more sustainable cost structure.Plus Therapeutics has 3 clinical stage drugs and a growing nanotechnology platform designed to reformulate, deliver and commercialize multiple novel, proprietary drugs targeting rare cancers and other diseases. The platform is designed to leverage new delivery approaches and/or formulations of drugs, potentially enhancing the safety, efficacy and convenience for patients and healthcare providers.Q1 Fiscal 2020 Pipeline Expansion Highlights

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