Why Plus Therapeutics (PSTV) stock skyrocketed 63% Tuesday?


  • Plus Therapeutics, Inc. (NASDAQ: PSTV) stock jumped 63.14% at 9:55 am ET on Tuesday.
  • The company entered into a master services agreement (MSA) with IsoTherapeutics Group LLC.
  • PSTV completed a technology transfer of analytical test methods with Piramal Pharma Solutions for 186RNL drug product intermediate.

Shares of Plus Therapeutics (PSTV) jumped 63.14% to US$1.78 at 9:55 am ET after it announced achieving two milestones regarding drug development and technology transfers.

The PSTV’s trading volume jumped to 84,402,614 on Tuesday compared to its 90-day average of 927,935 after the announcements.

The Austin, Texas-based company said that it entered into a master services agreement (MSA) with IsoTherapeutics Group LLC to develop, manufacture, and supply cGMP grade Rhenium-186 isotope for investigational radiotherapeutic 186RNL. 

The agreement would help make cGMP-grade Rhenium-186 eligible for late-stage clinical trials as per FDA requirements. Further, the deal will strengthen the cGMP supply because it will own the intellectual property (IP) rights for manufacturing and testing products.

Also Read: Top biotechnology stocks to explore in 2022

Plus Therapeutics President and CEO Marc Hedrick said IsoTherapeutics has “extensive capabilities” in radiopharmaceuticals technology, and that is what Plus is looking for in a manufacturing partner.

In its second major announcement, the company said that it completed the technology transfer of analytical test methods for the 186RNL drug intermediate with Piramal Pharma Solutions.

PSTV has already entered into a MSA agreement with Piramal in 2021 to develop, manufacture, and supply the 186RML intermediate. 

Also Read: 2 dividend ETFs to consider in January 2022

(Why PSTV stock soared more than 63% on Tuesday?)

Also Read: Top technology and gaming stocks to explore in 2022

Stock performance, financials

PSTV manufactures and commercializes treatments for cancer and other rare diseases.

The stock’s 52-week price range was between US$5.42 and US$0.99. It closed at US$1.09 on Jan 3, 2021. It has a market capitalization of US$16.7 million and its price to book ratio is 1.14.

PSTV launched its IPO in 2000.

Also Read: Top EV stocks to explore after robust vehicle deliveries

The company earned no revenue in the nine months ended Sept 30, 2021. The net loss was US$9.2 million or US$(0.84) per share diluted compared to a net loss of US$4.6 million or US$(4.65) per share diluted in the same period a year ago.

Also Read: Why is PancakeSwap (CAKE) token up today?


The Nasdaq Biotechnology Index fell 2.14% in one year, while PSTV stock plunged 24.64% in the same period. Investments in smaller healthcare companies might be risker than the established ones. Hence, investors should pay attention to details like drug product candidates, trial results, and the broader company fundamentals before investing in stocks.