Plus Therapeutics
Plus Therapeutics is a clinical-stage pharmaceutical company developing Rhenium-based targeted radiotherapeutics (REYOBIQ, 188RNL-BAM) and the CNSide CSF diagnostic for CNS and liver cancers, serving oncology centers, neuro-oncologists, and pediatric neuro-oncology programs.
- Company typePublic
- Founded1997
- HeadquartersAustin, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Plus Therapeutics does
Plus Therapeutics is a clinical-stage pharmaceutical company founded in 1997 and publicly traded on NASDAQ under the ticker PSTV, headquartered in Houston, Texas. The company develops targeted radiotherapeutics and companion diagnostics for central nervous system (CNS) cancers and other difficult-to-treat tumors, addressing indications with limited treatment options: recurrent glioblastoma, leptomeningeal metastases, pediatric brain cancers (ependymoma, high-grade glioma), hepatocellular carcinoma, and metastatic colorectal cancer. Its proprietary platform combines Rhenium radioisotopes (Rhenium-186 and Rhenium-188) with patented BMEDA chelation chemistry and 100-nanometer nanoliposome encapsulation to deliver high-dose radiation directly to tumors while sparing healthy tissue, using convection-enhanced delivery or Ommaya reservoir administration for CNS applications.
The therapeutic pipeline is anchored by REYOBIQ (rhenium Re186 obisbemeda), a Rhenium-186 radiolabeled nanoliposome therapy currently in ReSPECT-GBM, ReSPECT-LM, and ReSPECT-PBC clinical trials, and by 188RNL-BAM, a Rhenium-188 radioembolization therapy that loads radiolabeled nanoliposomes into biodegradable alginate microspheres for liver cancer treatment. Through its wholly-owned subsidiary CNSide Diagnostics, LLC, Plus Therapeutics also commercializes the CNSide CSF Tumor Cell Enumeration Assay, a cerebrospinal fluid diagnostic with reported 92% sensitivity and 95% specificity across more than 11,000 tests performed at over 120 U.S. cancer institutions since 2020.
The company operates a hybrid business model combining non-dilutive grant funding—$17.6 million from the Cancer Prevention and Research Institute of Texas (CPRIT) in 2022 and $3 million from the U.S. Department of Defense in 2024—with repeated equity financings, including a $15 million upsized public offering in January 2026. CNSide diagnostics generate revenue via transaction-based testing fees, with national coverage agreements in place with UnitedHealthcare, Humana, Highmark, Blue Shield of California, and Elevance Health, providing access to approximately 126 million covered lives and new PLA CPT code 0640U enabling Medicare and commercial billing from July 1, 2026. Therapeutic candidates remain clinical-stage and not commercially approved, with revenue and operating losses heavily influenced by grant timing and financing-related derivative accounting.
Plus Therapeutics firmographics
Firmographics- Name
- Plus Therapeutics
- Legal name
- PLUS THERAPEUTICS, Inc.
- Website
- https://plustherapeutics.com
- Company type
- Public
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Plus Therapeutics is a clinical-stage pharmaceutical company developing Rhenium-based targeted radiotherapeutics (REYOBIQ, 188RNL-BAM) and the CNSide CSF diagnostic for CNS and liver cancers, serving oncology centers, neuro-oncologists, and pediatric neuro-oncology programs.
- Ownership category
- akta.pro rank
Plus Therapeutics industry classification
Industry- Product category
- Radiopharmaceuticals for Central Nervous System Cancers
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), In-Vitro Diagnostic Substance Manufacturing (325413), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Medical and Diagnostic Laboratories (6215)
- SIC
- Pharmaceutical Preparations (2834), In Vitro & In Vivo Diagnostic Substances (2835), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)
- akta.pro secondary industries
- Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC), Oncology Diagnostics (tumor profiling, MRD, liquid biopsy) (HLAAALAE), Rare Oncology & Hematologic Malignancy Therapies (HLAIAIAC), Neuro-Oncology (HLAKAFAH)
Keywords
Where Plus Therapeutics is headquartered
LocationHeadquarters
- HQ city
- Austin
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Plus Therapeutics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- CNSide CSF Assay Diagnostics: The company generates revenue through its CNSide cerebrospinal fluid tumor cell enumeration assay for detecting leptomeningeal metastases. The diagnostic test is sold to oncology centers and hospitals with reimbursement through commercial payers and Medicare. CPT code 0640U effective July 1, 2026 enables billing.
- Grant Funding: Plus Therapeutics receives non-dilutive funding through government grants including $17.6 million from CPRIT for leptomeningeal metastases program and $3 million from the U.S. Department of Defense for pediatric brain cancer clinical trials.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | CNSide CSF Assay - Reimbursement through payer agreements |
| Other | Multi-year contract | REYOBIQ - Clinical stage therapeutic |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Plus Therapeutics product offering
Product offeringCore offering
Plus Therapeutics develops and supplies targeted radiotherapeutic drug products for rare central nervous system cancers, with a primary asset REYOBIQ (rhenium Re186 obisbemeda) in clinical trials for recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancers, and a complementary Rhenium-188 radioembolization product (188RNL-BAM) for liver cancers. Through its CNSide Diagnostics subsidiary it sells a cerebrospinal fluid tumor cell enumeration assay that aids diagnosis and treatment monitoring of leptomeningeal metastases. The portfolio is built on proprietary BMEDA chelation chemistry, 100 nm nanoliposome encapsulation, and biodegradable alginate microsphere delivery.
Product overview
Plus Therapeutics operates a platform-plus-products architecture centered on targeted radiotherapeutics and companion diagnostics for CNS cancers. The core therapeutic portfolio includes REYOBIQ (rhenium Re186 obisbemeda), a Rhenium-186 radiolabeled nanoliposome therapy targeting brain and CNS cancers via convection enhanced delivery; and 188RNL-BAM, a next-generation radioembolization therapy for liver cancers. Complementing the therapeutic pipeline is CNSide Diagnostics, a wholly-owned subsidiary developing the CNSide CSF Assay Platform—a diagnostic test that enumerates tumor cells in cerebrospinal fluid to aid in managing CNS cancers and leptomeningeal metastases. The company is also developing an AI execution platform in partnership with Ephemeral Technologies to integrate and analyze proprietary longitudinal therapeutic, diagnostic, and bioinformatics datasets for precision neuro-oncology.
Differentiator
Problem solved
Functional benefit
Brands
- REYOBIQ™ (rhenium Re186 obisbemeda): Lead drug candidate - Rhenium-186 radiolabeled nanoliposome therapy for recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancers.
- 188RNL-BAM
- CNSide®
Products and services
- REYOBIQ (rhenium Re186 obisbemeda) Rhenium-186 radiolabeled nanoliposome therapy designed to target brain and CNS cancers in adults and children, including recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancers such as ependymoma and high-grade glioma. Delivered via convection enhanced delivery (CED) or Ommaya reservoir. Currently in clinical trials and not yet commercially available.
- 188RNL-BAM (Rhenium-188 NanoLiposome Biodegradable Alginate Microsphere) Next-generation radioembolization therapy in which thousands of Rhenium-188 radiolabeled nanoliposomes are loaded into a single biodegradable alginate microsphere to treat solid organ cancers including hepatocellular carcinoma and metastatic colorectal cancer. Administered via trans-arterial radioembolization (TARE). Currently in development and not yet commercially available.
- CNSide CSF Tumor Cell Enumeration Assay Cerebrospinal fluid assay platform for detecting and enumerating tumor cells that have metastasized to the central nervous system. Demonstrates 92% sensitivity and 95% specificity across more than 11,000 tests at over 120 U.S. cancer institutions since 2020. Supports rapid diagnoses, treatment monitoring, and treatment guidance for patients with leptomeningeal metastases.
Quantifiable outcome
- CNSide assay demonstrated 92% sensitivity and 95% specificity across more than 11,000 tests at over 120 U.S. cancer institutions since 2020
- +3 more outcomes
Companies that use Plus Therapeutics
Customer profileNamed customers5 records
Segments4 records
Ideal customer profiles3 records
Plus Therapeutics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature7 records
Plus Therapeutics partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, strategic and supporting.
- SpectronRxcoreMaster Services Agreement for GMP manufacturing activities and technology transfer for REYOBIQ clinical supply. SpectronRx enables on-demand Rhenium-186 isotope production and drug manufacturing within the same facility, strengthening the multi-partner supply chain.
- RadiomedixcoreExisting manufacturing partner in the multi-partner supply chain for REYOBIQ radiopharmaceutical production.
- Telix Pharmaceuticals / IsotherapeuticscoreExisting partner for Rhenium-186 isotope supply in the REYOBIQ supply chain.
- Ephemeral TechnologiesstrategicStrategic partnership to develop an AI-native platform for CNS oncology. The platform will integrate, organize, and analyze Plus Therapeutics' proprietary longitudinal therapeutic, diagnostic, and bioinformatics datasets to accelerate precision neuro-oncology development. Expected to deliver operational efficiencies beginning in 2026.
- ABXsupportingSupplier partner for raw materials and product development.
- EurofinssupportingAnalytical testing partner for product and clinical development.
- Perceptive InformaticssupportingClinical technology and software partner.
- BrainlabsupportingTechnology partner for neurosurgical and radiation planning systems.
- MURR (University of Missouri Research Reactor)supportingPartner for nuclear medicine and radioisotope production capabilities.
- Alamo Nuclear PharmacysupportingNuclear pharmacy partner for radiopharmaceutical preparation and dispensing.
- PiramalsupportingSupplier partner for pharmaceutical development and manufacturing.
- The University of Texas Health Science Center at San AntoniocoreLicensed patents and technologies for 188RNL-BAM development. Also home to key opinion leader Dr. Andrew Brenner who serves on Scientific Advisory Board.
Scale indicators9 records
Recent moves7 records
Expansion highlights6 records
Plus Therapeutics competitors and assessment
Company assessmentBroad incumbents
- Novartis: Novartis is the global leader in radioligand therapy with Pluvicto (lutetium-177 PSMA-617) for prostate cancer and Lutathera (lutetium-177 dotatate) for neuroendocrine tumors. It represents the dominant incumbent that Plus Therapeutics will compete against in radiopharmaceuticals, with substantially greater resources and commercial infrastructure.
- Bayer: Bayer markets Xofigo (radium-223), an approved radiopharmaceutical for bone metastases in prostate cancer, and has broader oncology infrastructure including Nubeqa and Stivarga. Bayer represents a major incumbent in radiopharmaceuticals with established global commercial reach that could expand into CNS indications.
- Guardant Health: Guardant Health is a leading liquid biopsy company with broad oncology diagnostic applications including CNS cancer detection through blood and CSF-based assays. It represents a broader incumbent in oncology diagnostics with substantially greater scale and established commercial channels that could expand into leptomeningeal metastases detection.
Direct peers
- Lantheus Holdings: Lantheus is a leading radiopharmaceutical-focused company with diagnostic agents (e.g., PYLARIFY for prostate cancer imaging) and an expanding therapeutic pipeline. It is a direct competitor in radiopharmaceuticals and serves the same oncology specialty distribution channels as Plus Therapeutics.
- Telix Pharmaceuticals: Telix is a commercial-stage radiopharmaceutical company developing diagnostic and therapeutic agents including Illuccix (PSMA imaging) and is also a current supplier of Rhenium-186 to Plus Therapeutics. It competes directly with Plus in the broader radiopharmaceutical space and has approved commercial products.
- ITM Isotope Technologies Munich: ITM is a German radiopharmaceutical company developing both diagnostic and therapeutic radiopharmaceuticals based on lutetium-177 and other radioisotopes, with proprietary manufacturing capabilities. It is a direct peer in the targeted radiotherapeutics space, particularly for oncology indications.
- Curium Pharma: Curium is one of the largest radiopharmaceutical manufacturers globally, producing diagnostic and therapeutic nuclear medicine products. It competes with Plus in radiopharmaceutical development and has established manufacturing infrastructure across SPECT, PET, and therapeutic isotopes.
- Biocept: Biocept is a molecular diagnostics company specializing in liquid biopsy for detecting cancer cells, including in cerebrospinal fluid for CNS metastases. It is a direct competitor to CNSide Diagnostics in CSF-based oncology diagnostics, serving the same neuro-oncology customer base.
Emerging players
- Clarity Pharmaceuticals: Clarity Pharmaceuticals is an emerging radiopharmaceutical company developing SAR-bisPSMA and SAR-Bombesin agents using copper-64 and copper-67 isotopes. It is an emerging player in the targeted radiopharmaceutical space with overlapping scientific approach.
- Alpha-9 Oncology: Alpha-9 Oncology is an emerging radiopharmaceutical company developing targeted alpha therapies for solid tumors. It overlaps with Plus in the broader radiopharmaceutical oncology space but focuses on alpha-emitting radioisotopes rather than beta-emitters like Rhenium.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Plus Therapeutics social profiles
Digital presencePlus Therapeutics compliance and trust
Trust signalCompliance3 records
Plus Therapeutics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Plus Therapeutics leadership team
Management profileNumber of profiles
Profiles13 records
Plus Therapeutics subsidiaries and ownership
Company hierarchySubsidiaries1 record
Plus Therapeutics funding detail
Funding detailFunding overview
Funding rounds17 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Plus Therapeutics M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Plus Therapeutics
What does Plus Therapeutics do?
Plus Therapeutics develops and supplies targeted radiotherapeutic drug products for rare central nervous system cancers, with a primary asset REYOBIQ (rhenium Re186 obisbemeda) in clinical trials for recurrent glioblastoma, leptomeningeal metastases, and pediatric brain cancers, and a complementary Rhenium-188 radioembolization product (188RNL-BAM) for liver cancers. Through its CNSide Diagnostics subsidiary it sells a cerebrospinal fluid tumor cell enumeration assay that aids diagnosis and treatment monitoring of leptomeningeal metastases. The portfolio is built on proprietary BMEDA chelation chemistry, 100 nm nanoliposome encapsulation, and biodegradable alginate microsphere delivery.
Is Plus Therapeutics a public or private company?
Plus Therapeutics is a public company. It is classified as public and is currently operating.
When was Plus Therapeutics founded?
Plus Therapeutics was founded in 1997. It employs 11 to 50 people.
Where is Plus Therapeutics based?
Plus Therapeutics is headquartered in Austin, United States, in the North America region.
How does Plus Therapeutics make money?
Two revenue lines are on record. CNSide CSF Assay Diagnostics are the primary driver. The others are grant Funding.
Who are Plus Therapeutics's main competitors?
Broad incumbents on record are Novartis, Bayer and Guardant Health. Direct peers are Lantheus Holdings, Telix Pharmaceuticals, ITM Isotope Technologies Munich, Curium Pharma and Biocept. Emerging players are Clarity Pharmaceuticals and Alpha-9 Oncology.
Does Plus Therapeutics have an API?
No public API is recorded for Plus Therapeutics.
What industry is Plus Therapeutics in?
Plus Therapeutics's product category is Radiopharmaceuticals for Central Nervous System Cancers. Its primary akta.pro industry code is HLAIAGAB, Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy), with a secondary code of HLAIAGAC, Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx). Its NAICS code is 325414 and its SIC code is 2834.