Key insights
- Plus Therapeutics presented positive Phase 1 trial data for REYOBIQ in treating leptomeningeal metastases, showing improved survival rates. Despite financial challenges and a recent stock decline, analysts see potential upside. The company is proceeding with further trials to assess safety and tolerability. This news could positively influence investor sentiment in the short term.
HOUSTON - Plus Therapeutics Inc. (NASDAQ:PSTV) presented clinical and translational data from its Phase 1 ReSPECT-LM trial of REYOBIQ at the 2026 American Association of Neurological Surgeons Annual Scientific Meeting held May 1-4, 2026 in San Antonio, Texas, according to a press release statement.
The oral plenary session was delivered by Henriette U. Balinda, PhD, of UT Health San Antonio on Saturday, May 2, 2026. The presentation focused on rhenium Re186 obisbemeda for treating leptomeningeal metastases, a condition with no FDA-approved therapies.
The completed Phase 1 ReSPECT-LM study showed median overall survival of approximately 9 months in patients treated at the recommended Phase 2 dose, compared to historical survival of approximately 2-6 months. The study demonstrated circulating tumor cell reduction and clinical benefit across evaluable patients.The clinical progress comes as the company, with a market cap of $41 million, faces financial headwinds. According to InvestingPro data, shares have declined 56% over the past six months, though the stock currently trades near InvestingPro’s Fair Value estimate. Analysts see potential upside, with price targets ranging from $12 to $65.
The trial reported a target-to-off-target absorbed dose ratio exceeding 100:1. Translational analyses indicated REYOBIQ may induce immune remodeling within the tumor microenvironment, including activation of CD8+ T cells.
The ReSPECT-LM Phase 1 Multiple Dose trial is currently enrolling patients at the University of Texas Health San Antonio. The trial aims to characterize safety and tolerability of multiple doses of REYOBIQ for patients with any primary solid tumor cancer with leptomeningeal metastases.
REYOBIQ is an injectable radiotherapy formulated to deliver targeted radiation in central nervous system tumors. The treatment is being evaluated in multiple trials including ReSPECT-GBM for recurrent glioblastoma and ReSPECT-PBC for pediatric brain cancer.
The ReSPECT-LM trial is funded by a three-year $17.6 million grant from the Cancer Prevention & Research Institute of Texas. The company’s pediatric brain cancer trial is supported by a $3 million grant from the U.S. Department of Defense’s Peer Reviewed Cancer Research Program.
Plus Therapeutics is a clinical-stage pharmaceutical company developing targeted radiotherapies for central nervous system cancers.
In other recent news, Plus Therapeutics announced that its subsidiary, CNSide Diagnostics, has enrolled in the Medicare program, allowing it to submit claims for its CNSide Cerebrospinal Fluid Assay Platform. This development is significant as it enables reimbursement for claims deemed reasonable and necessary by the Medicare Administrative Contractor. Additionally, Plus Therapeutics has made strategic appointments to bolster its leadership team. Randy H. Goodman, Ph.D., M.H.A., has been appointed as Vice President of Value Strategy & Health Economics and Outcomes Research, bringing over 20 years of experience in health economics and market access. Furthermore, Dr. Eric J. Daniels has been named Chief Development Officer, effective April 20, 2026, with a background in clinical development and regulatory strategy. In another notable development, the U.S. Food and Drug Administration granted Orphan Drug Designation to REYOBIQ for treating pediatric malignant gliomas, which are rare and aggressive brain tumors. This designation includes a broader scope than initially requested, covering pediatric ependymoma as well.
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