Plus Therapeutics (PSTV – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason McCarthy from Maxim Group maintained the rating on the stock to a Buy and gave it a $4.00 price target.
Jason McCarthy’s Buy rating for Plus Therapeutics is largely influenced by the company’s promising clinical developments. The company has successfully completed dosing in the fourth cohort of the Phase 1 ReSPECT-LM trial, which treats leptomeningeal metastases. This part of the trial was conducted based on positive safety data from the previous section of the study, where a maximum tolerable dose was not reached, and dose-limiting toxicities were not observed. Furthermore, the results from the first part of the trial were encouraging, with data presented at the Society for Neuro-Oncology/American Society of Clinical Oncology Central Nervous System Cancer Conference.
The next step for Plus Therapeutics is to commence dosing for the fifth cohort of Part B of the study, expected to take place within this quarter. In addition to this, there are anticipated updates from both the ReSPECT-LM and ReSPECT-GBM studies, to be presented at an upcoming conference. Notably, the ReSPECT-LM trial is supported by a $17.6 million Product Development Research grant from the Cancer Prevention and Research Institute of Texas, which contributes to the financial stability of the ongoing development. Finally, it is worth mentioning that no dose-limiting toxicities were observed in the recent trials, which suggests a good safety profile of the treatment.
According to TipRanks, McCarthy is an analyst with an average return of -30.2% and a 18.58% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as VistaGen Therapeutics, Indaptus Therapeutics, and Lineage Therap.
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Plus Therapeutics (PSTV) Company Description:
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. The 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. The lead drug product candidate in pipeline, DocePLUS™, is being developed in the U.S. by a dedicated and energetic team of biologists, chemists, engineers, and other professionals. The company was founded by Ralph E. Holmes and Christopher J. Calhoun in July 1996 and is headquartered in Austin, TX.
Read More on PSTV:
- Plus Therapeutics Completes Dosing in Cohort 4 of ReSPECT-LM Phase 1 Clinical Trial of Rhenium (¹⁸⁶Re) Obisbemeda in Leptomeningeal Metastases
- Plus Therapeutics completes dosing in cohort 4 ReSPECT-LM Phase 1 trial
- Plus Therapeutics to Participate in the Jones Trading Healthcare Summit and ThinkEquity Conference in October
- Biotech Alert: Searches spiking for these stocks today
- Plus Therapeutics Receives $1.9 Million Advance Payment from CPRIT and Plans to Present at the CPRIT Innovations in Cancer Prevention and Research Conference
