Plus Therapeutics to Receive $4.6MM Reimbursement Payment
September 23 2019 - 6:10AM
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the “Company”) today
announced that it received notice 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”) that, based on retrospective
changes in indirect cost rates under Contract HHSO100201200008C
dated September 27, 2012, as amended, BARDA has agreed to pay the
Company approximately $4.6 million to reimburse the Company for
work performed during fiscal years 2012 through 2019. The
Company expects to receive such payment from BARDA in October 2019.
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 expected receipt of a payment from
BARDA and 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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