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Plus Therapeutics (PSTV) Stock Gains Premarket On Agreement with RadioMedix

Sam Boughedda trader
Updated 2 Sep 2021

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PSTV Orphan Drug Designation

Plus Therapeutics (NASDAQ: PSTV) stock is surging premarket following the announcement of an agreement with RadioMedix for the commercial production of the company’s radiopharmaceuticals.

The agreement will see RadioMedix produce a cGMP drug product that meets all the US Food and Drug Administration (FDA). In addition, the partnership further ensures the commercial supply chain for 186RNL with PSTV saying it will extend to future products under the RNL platform.

186RNL is being developed to treat recurrent GBM, leptomeningeal metastases, and pediatric brain cancer.

“RadioMedix is a global leader in the development and production of GMP radiopharmaceutical products,” said Marc Hedrick, President and CEO of Plus Therapeutics.

“This strategic partnership substantially supports our efforts to have fully compliant 186RNL available by mid-2022 for a potential Phase 2/3 clinical study in adults with recurrent glioblastoma (GBM).”

Plus Therapeutics stock is trading at $2.28 premarket after rising 20%.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.