Plus Therapeutics (Nasdaq: PSTV) a clinical-stage pharmaceutical company developing novel chemotherapeutics and radiotherapeutics products for rare cancers that address an unmet medical need, announced two collaboration agreements to aid in its process development and analytical chemistry ventures for the cGMP production of Rhenium NanoLiposome, PSTV’s main analytical asset in clinical development for recurrent glioblastoma. PSTV stock declined adjacent to the news.
At last check-in, current trading, shares of Plus Therapeutics Inc. (PSTV) declined 7.31% at $2.41. PSTV’s stock closed the previous session at $2.60. Shares of the company were fluctuating between $2.23 and $2.72. In the past 12 months, the company’s stock has advanced 63.52%, and in the last week, the stock has moved up 11.11%
About Plus Therapeutics Agreements
Plus Therapeutics has entered into an agreement with Eurofins BioPharma Inc, the leading network of harmonized biopharmaceutical GMP product testing laboratories on a global scale. Eurofins will provide assistance through developing and validating test methods focusing on purity yield, composition, and identification of Re-BMEDA, the API in RNL™. The test methods will reinforce release testing and compliance with cGMP regulations for the production of new drug substances.
Plus Therapeutics has also established a pre-clinical, clinical, and process development agreement with Invicro LLC (Invicro), which focuses on the discovery and development of life-changing drugs using a novel platform, as well as leading the market in analytical chemistry.
In accordance with the agreement, Invicro will customize the present production process and develop in-process production controls for the RNL™ active pharmaceutical ingredient (API) and final drug product and will provide assistance in drug development consulting as well as clinical trial imaging
“We have identified two best-in-class partners in Invicro and Eurofins to help us get one step further in bringing RNL to a registrational clinical trial and ultimately commercial supply,” stated Marc H. Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics. “
PSTV has focused immensely on Process optimization and adequate quality for the commercialization of their drug products in the market. The established agreements may also help to accelerate the development of their product, as a result, the market may be penetrated rapidly.
PSTV has opted for strategic agreements to speed up its drug development process with emphasis on in-process production controls. However, PSTV was unable to induce adequate investor interest, with share price declining substantially.