Plus Therapeutics Receives $4.6MM Reimbursement Payment
October 15 2019 - 09:20AM
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”) today
announced that it received a $4.6 million payment from the U.S.
Department of Health and Human Services / Office of the Assistant
Secretary for Preparedness and Response / Biomedical Advanced
Research and Development Authority (“BARDA”) to reimburse the
Company for work performed during fiscal years 2012 through 2019,
based on retrospective changes in indirect cost rates under
Contract HHSO100201200008C dated September 27, 2012, as amended, by
and between the Company and BARDA.
About Plus Therapeutics, Inc.
Plus Therapeutics, Inc. is a clinical-stage pharmaceutical
company focused on the discovery, development, and manufacturing
scale up of complex and innovative treatments for patients battling
cancer and other life-threatening diseases.
Our proprietary nanotechnology platform is currently centered
around the enhanced delivery of a variety of drugs using novel
liposomal encapsulation technology. Liposomal encapsulation has
been extensively explored and undergone significant technical and
commercial advances since it was first developed. Our platform is
designed to facilitate new delivery approaches and/or formulations
of safe and effective, injectable drugs, potentially enhancing the
safety, efficacy and convenience for patients and healthcare
providers.
Our lead product candidate, DocePLUS, is a protein-stabilized
PEGylated liposomal formulation of docetaxel, for which the process
of preparation is patented. The active pharmaceutical ingredient,
docetaxel, was approved by the FDA in 1999 and commonly used for
treating cancers of the breast, head, neck, stomach, prostate, and
lung.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain statements that may be
deemed “forward-looking statements” within the meaning of U.S.
securities laws. All statements, other than statements of
historical fact, that address activities, events or developments
that we intend, expect, project, believe or anticipate and similar
expressions or future conditional verbs such as will, should,
would, could or may occur in the future are forward-looking
statements. 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 the Company’s potential to facilitate new delivery
approaches and/or formulations of safe and effective, injectable
drugs, potentially enhancing the safety, efficacy and convenience
for patients and healthcare providers. The forward-looking
statements included in this press release are subject to a number
of additional material risks and uncertainties, including but not
limited to, the risks described under the heading “Risk Factors” in
the Company’s Securities and Exchange Commission filings, including
in the Company’s annual and quarterly reports. There may be events
in the future that the company is unable to predict, or over which
it has no control, and its business, financial condition, results
of operations and prospects may change in the future. The company
assumes no responsibility to update or revise any forward-looking
statements to reflect events, trends or circumstances after the
date they are made unless the company has an obligation under U.S.
federal securities laws to do so.
Plus Therapeutics, Inc.Russ HavranekVP –
Marketing, Portfolio Management, Investor RelationsPhone:
+1.619.333.4150Email: ir@plustherapeutics.com
Website: plustherapeutics.com
Source: Plus Therapeutics, Inc.
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