Comprehensive Statement Of Financial Position Why Is Everyone Talking About Comprehensive Statement Of Financial Position?
AUSTIN, Texas, May 14, 2020 (GLOBE NEWSWIRE) — Plus Therapeutics, Inc. (Nasdaq: PSTV ) (the “Company”), today appear banking and business after-effects for its aboriginal division budgetary year 2020 concluded March 31, 2020.
Fiscal 2020 aboriginal division net accident from continuing operations was $1.1 million, or $0.28 per share. Net banknote acclimated in operating activities for Q1 2020 was about $1.5 million. Plus Therapeutics concluded Q1 2020 with about $16.1 actor of banknote and banknote equivalents.
“The aboriginal division of 2020 was a absolute important division for the Aggregation as we appear the licensing of assorted attenuate blight artefact candidates, including a absolute atypical radiotherapeutic for glioblastoma and potentially assorted added cancers,” said Dr. Marc Hedrick, President and Chief Executive Officer of Plus Therapeutics, “For the butt of 2020, we will focus on commutual the acceptance of our advancing Phase I trial, added accretion our activity and seek broadcast affiliation that can advice abutment our development activities.”
Plus Therapeutics entered Q1 2020 afterwards commutual a cogent accumulated capricious year in 2019, in which key banking affairs and changes to our activity were accomplished. We additionally completed a absolute accumulated rebrand and relocated the aggregation to Texas. The alteration additionally provided the aggregation with an bigger banking position and a added acceptable amount structure.
Plus Therapeutics has 3 analytic date drugs and a growing nanotechnology belvedere advised to reformulate, bear and commercialize assorted novel, proprietary drugs targeting attenuate cancers and added diseases. The belvedere is advised to advantage new commitment approaches and/or formulations of drugs, potentially acceptable the safety, adeptness and accessibility for patients and healthcare providers.
Q1 Budgetary 2020 Activity Expansion Highlights
— In Q1 2020, the Aggregation appear a absolute acceding to authorization assorted attenuate blight artefact candidates from clandestine Texas-based radiotherapeutic aggregation NanoTx Therapeutics, Inc. — Agreement of the transaction, which bankrupt aftermost week, accommodate an upfront acquittal of $400,000 in banknote and 230,769 shares of Plus accepted stock. Furthermore, the Aggregation may be adapted to pay up to $136.5 actor in development and sales anniversary payments and a tiered single-digit adeptness on U.S. and European sales. — The advance biologic in the accountant radiotherapeutic portfolio is a nanoliposome-encapsulated radionucleotide for several blight targets. Added specifically, the biologic is a Rhenium-186-chelated NanoLiposome (RNL™), which is initially actuality developed for alternate glioblastoma. RNL™ is currently actuality evaluated in a NIH/NCI-supported Phase 1 dose-finding analytic balloon (NCT01906385) in the U.S. RNL™ is alloyed anon into the academician bump via attention academician mapping and alteration added commitment technology to bear absolute aerial ameliorative doses of radiation to patients whose blight has recurred afterward antecedent surgical resection and analysis with chemotherapy and radiation. RNL™ is advised to cautiously and finer bear a dosage of radiation anon to the bump that is up to 30 times greater than that currently actuality accustomed to patients application alien axle radiation therapy.
Q1 2020 Banking Performance Highlights
— Q1 2020 net banknote acclimated in operating activities was $1.5 million, compared to net banknote acclimated of $3.3 actor for Q1 2019. — Q1 2020 government arrangement revenues were $0.12 million, compared to $0.74 actor for Q1 2019. — Q1 2020 net accident from continuing operations was $1.1 actor or $ 0.28 per share, compared to a net accident of $2.5 actor or $6.98 per allotment for Q1 2019. — Q1 2020 absolute net accident was $1.1 actor or $0.28 per allotment compared to a absolute net accident of $3.2 actor or $8.92 per allotment for Q1 2019, afterwards factoring in discontinued operations.
Investor Alarm Today at 5 p.m. EDT
The aggregation affairs to authority a appointment alarm and alive audio webcast at 5 PM Eastern Time to altercate its banking after-effects and accommodate a accepted business update.
Event: Plus Therapeutics Aboriginal Division Budgetary Year 2020 Banking After-effects Appointment Alarm and Webcast Date: Thursday, May 14, 2020 Time: 5:00 PM Eastern Time. Alive Call: Phone Number: (877) 402-3914; Appointment ID: 5485418 Alive Webcast: https://event.on24.com/wcc/r/2157706/57B35E952B90ADEBB0FE744BC69B7235 Alpha two hours afterwards the cessation of the appointment call, a epitomize will be available. Replay: http://ir.plustherapeutics.com/events/default.aspx
About Plus Therapeutics, Inc.
Plus Therapeutics is a clinical-stage biologic aggregation focused on authoritative a absolute appulse on patients’ lives and abacus amount to the healthcare system. We are a publicly-traded aggregation on Nasdaq ( PSTV, an abridgement of ‘POSITIVE’) with our address in Austin, Texas and GMP-validated accomplishment accessories in San Antonio, Texas. The area of our operations provides us with abounding abeyant cardinal advantages, including adjacency to world-class blight institutions and advisers and the adeptness to authorize and administer for allotment through the Blight Prevention and Analysis Institute of Texas, or CPRIT. Our activity of applicant biologic articles includes our advance biologic artefact candidates, RNL™ and DocePLUS™, which are actuality developed in the U.S. by a committed and active aggregation of biologists, chemists, engineers, physicians and added professionals. This assorted and accomplished aggregation uses able and proprietary nanotechnology to reformulate and bear chemotherapeutics and radiotherapeutics to accommodate allusive allowances to patients and healthcare providers. Our technology belvedere serves as the foundation of our biologic artefact activity and affords us the befalling to advance added drugs for attenuate cancers. Added advice may be begin at www.plustherapeutics.com.
Cautionary Statement Regarding Forward-Looking Statements
This columnist absolution contains assertive statements that may be accounted “forward-looking statements” aural the acceptation of U.S. balance laws. All statements in this columnist release, added than statements of absolute fact, are advanced statements. These advanced statements may be articular by agreement such as “intend,” “expect,” “project,” “believe,” “anticipate,” “will,” “should,” “would,” “could,” “may,” “designed,” “potential,” “position,” and agnate expressions, or the abrogating of such expression. Such statements are based aloft assertive assumptions and assessments fabricated by our administration in ablaze of their acquaintance and their acumen of absolute trends, accepted conditions, accepted approaching developments and added factors they accept to be appropriate. These statements include, afterwards limitation, statements regarding: the acceptance that the Company’s accumulated alteration will accommodate the Aggregation the banking strength, development focus and amount anatomy to accomplish abiding activity and growth; the architecture and abeyant of our nanotechnology belvedere to reformulate, bear and commercialize assorted drugs targeting attenuate cancers and added diseases and to facilitate new commitment approaches and/or formulations of safe and effective, injectable drugs, potentially acceptable the safety, adeptness and accessibility for patients and healthcare providers; the Company’s abeyant to advance biologic candidates currently in its artefact pipeline; and the Company’s abeyant to advance added drugs alfresco of its accepted pipeline. The advanced statements included in this columnist absolution are accountable to a cardinal of added absolute risks and uncertainties that may account absolute after-effects to alter materially from those set alternating in these advanced statements. These risks and uncertainties include, but are not bound to, the following: the accident that the Aggregation is not able to auspiciously advance artefact candidates that can advantage the U.S. FDA’s accelerated authoritative pathways; the aboriginal date of our artefact candidates and therapies; the after-effects of our analysis and development activities, including uncertainties apropos to the analytic trials of our artefact candidates and therapies; our charge and adeptness to accession added cash; the aftereffect of our partnering/licensing efforts; risks associated with laws or authoritative requirements applicative to us; bazaar conditions; artefact performance; abeyant litigation; antagonism aural the adorning anesthetic field; and the advancing COVID-19 pandemic, as able-bodied as the risks declared beneath the branch “Risk Factors” in the Company’s Balance and Barter Commission filings, including in the Company’s anniversary and annual reports. There may be contest in the approaching that the Aggregation is clumsy to predict, or over which it has no control, and its business, banking condition, after-effects of operations and affairs may change in the future. The Aggregation assumes no albatross to amend or alter any advanced statements to reflect events, trends or affairs afterwards the date they are fabricated unless the Aggregation has an obligation beneath U.S. federal balance laws to do so.
PLUS THERAPEUTICS, INC. CONSOLIDATED CONDENSED BALANCE SHEETS(UNAUDITED)(in thousands, except allotment and par amount data)
As of As of March 31, December 2020 31, 2019 ———- ———- Assets Accepted assets: Banknote and banknote equivalents $ 16,061 $ 17,552 Accounts receivable 978 1,169 Belted banknote — 40 Inventories, net 107 107 Added accepted assets 551 957 – ——– – ——– Absolute accepted assets 17,697 19,825 Acreage and equipment, net 2,096 2,179 Operating charter right-of-use assets 744 781 Added assets 58 72 Goodwill 372 372 – ——– – ——– Absolute assets $ 20,967 $ 23,229 – ——– – ——– Liabilities and Stockholders’ Disinterestedness Accepted liabilities: Accounts payable and accrued costs $ 3,670 $ 3,279 Operating charter accountability 136 147 Term accommodation obligations, net of abatement 11,182 11,060 – ——– – ——– Absolute accepted liabilities 14,988 14,486 Added noncurrent liabilities 8 8 Noncurrent operating charter accountability 624 646 Warrant accountability 5,262 6,929 – ——– – ——– Absolute liabilities 20,882 22,069 Commitments and contingencies (Note 9) Stockholders’ equity: Preferred stock, $0.001 par value; 5,000,000 shares authorized; 1,959 shares — — issued and outstanding at March 31, 2020 and December 31, 2019 Accepted stock, $0.001 par value; 100,000,000 shares authorized; 3,880,588 shares 4 4 issued and outstanding at March 31, 2020 and December 31, 2019 Added paid-in basic 426,438 426,426 Accumulated arrears (426,357 ) (425,270 ) – ——– – ——– Absolute stockholders’ disinterestedness 85 1,160 – ——– – ——– Absolute liabilities and stockholders’ disinterestedness $ 20,967 $ 23,229 – ——– – ——–
PLUS THERAPEUTICS, INC. CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)(in thousands, except allotment and per allotment data)
For the Three Months Concluded March 31, ———————— 2020 2019 ———– ——— Development revenues: Government affairs and added $ 118 $ 737 Operating expenses: Analysis and development 941 1,426 Sales and business 110 114 Accepted and authoritative 1,508 1,363 – ——— – ——- Absolute operating costs 2,559 2,903 – ——— – ——- Operating accident (2,441 ) (2,166 ) Added assets (expense): Interest assets 36 7 Interest amount (349 ) (515 ) Change in fair amount of warrants 1,667 210 – ——— – ——- Absolute added assets (expense) 1,354 (298 ) Accident from continuing operations (1,087 ) (2,464 ) Accident from discontinued operations — (686 ) – ——— – ——- Net accident $ (1,087 ) $ (3,150 ) – ——— – ——- Basic and adulterated net accident per allotment attributable to accepted stockholders – $ (0.28 ) $ (6.98 ) continuing operations Basic and adulterated net accident per allotment attributable to accepted stockholders – $ — $ (1.94 ) discontinued operations – ——— – ——- Net accident per share, base and adulterated $ (0.28 ) $ (8.92 ) – ——— – ——- Basic and adulterated abounding boilerplate shares acclimated in artful net accident per allotment 3,880,588 353,142 attributable to accepted stockholders Absolute loss: Net accident $ (1,087 ) $ (3,150 ) Added absolute accident – adopted bill adaptation adjustments – (140 ) – ——— – ——- Absolute accident $ (1,087 ) $ (3,290 ) – ——— – ——-
PLUS THERAPEUTICS, INC.CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS(UNAUDITED)(in thousands)
For the Three Months Concluded March 31, ——————– 2020 2019 ——– ——– Banknote flows acclimated in operating activities: Net accident $ (1,087 ) $ (3,150 ) Adjustments to accommodate net accident to net banknote acclimated in operating activities: Depreciation and acquittal 94 443 Acquittal of deferred costs costs and debt abatement 122 168 Noncash charter costs 4 — Change in fair amount of warrants (1,667 ) (210 ) Share-based advantage amount 12 49 Increases (decreases) in banknote acquired by changes in operating assets and liabilities: Accounts receivable 191 (212 ) Inventories — 16 Added accepted assets 405 16 Added assets 14 1 Accounts payable and accrued costs 410 (405 ) Deferred revenues — (25 ) Added abiding liabilities — 39 – —— – —— Net banknote acclimated in operating activities (1,502 ) (3,270 ) – —— – —— Banknote flows acclimated in advance activities: Purchases of acreage and accessories (11 ) (6 ) – —— – —— Net banknote acclimated in advance activities (11 ) (6 ) – —— – —— Banknote flows (used in) provided by costs activities: Acquittal of costs charter accountability (18 ) (28 ) Proceeds from auction of accepted stock, net — 1,919 – —— – —— Net banknote (used in) provided by costs activities (18 ) 1,891 – —— – —— Effect of barter amount changes on banknote and banknote equivalents — (4 ) – —— – —— Net abatement in banknote and banknote equivalents (1,531 ) (1,389 ) Cash, banknote equivalents, and belted banknote at alpha of aeon 17,592 5,301 – —— – —— Cash, banknote equivalents, and belted banknote at end of aeon $ 16,061 $ 3,912 – —— – —— Supplemental acknowledgment of banknote flows information: Banknote paid during aeon for: Interest $ 227 $ 347
Contact:Plus Therapeutics, Inc. Andrew Sims VP – Chief Banking Officer, Investor Relations Phone: 1.619.333.4150 Email: email@example.com Website: plustherapeutics.com
Comprehensive Statement Of Financial Position Why Is Everyone Talking About Comprehensive Statement Of Financial Position? – comprehensive statement of financial position
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