Oct 22, 2025 (PRISM News via COMTEX) --
Plus Therapeutics (NASDAQ: PSTV) has announced significant progress in the commercialization of its CNSide Diagnostic platform, focusing on expanding manufacturing capacity, enhancing commercial readiness, and strengthening its leadership team. Key developments include the establishment of a cutting-edge laboratory at Houston's Texas Medical Center, the appointment of Russ Havranek as Executive Vice President of Commercial and Corporate Strategy, and Daniel Ortega as Vice President of Development and Technical Operations. Additionally, a recent national coverage agreement with UnitedHealthcare now provides access to over 51 million covered lives, positioning CNSide for broader market adoption.
Commercial Expansion and Execution
Commercial execution remains a core focus for Plus Therapeutics. Following CLIA accreditation and the initial launch in Texas, CNSide is building a nationwide presence by securing payor contracts, applying for reimbursement codes, and enrolling in Medicare. The company has also bolstered its functional teams across sales, marketing, medical affairs, and market access to establish a fully integrated diagnostic business. Early interest from NCI-Designated Cancer Centers further validates the platform's adoption potential, while the UnitedHealthcare agreement significantly strengthens payor coverage momentum.
Operational Growth and Strategic Location
On the operational front, the newly secured laboratory space at Houston's Levit Green campus provides a scalable manufacturing footprint near MD Anderson and other leading institutions. This facility not only meets current commercial needs but also lays the groundwork for future growth, collaboration, and clinical development. With Daniel Ortega's expertise in GMP manufacturing and regulatory CMC, CNSide is well-positioned to scale operations within compliant frameworks.
Upcoming Catalysts
In the near term, Plus Therapeutics is focused on expanding CNSide's national footprint, increasing commercial payor coverage, and driving adoption across NCI cancer centers. Anticipated updates include additional policy agreements, Medicare coverage milestones, and operational advancements as the Houston laboratory reaches full capacity.
Valuation and Price Target
The valuation model for Plus Therapeutics incorporates multiple CNS indications, applying a 10% probability of success factor and a 30% discount rate. Projections account for additional capital raises, with calculations based on Free Cash Flow to the Firm (FCFF), discounted EPS (dEPS), and sum-of-the-parts (SOP) models. These are equal-weighted, averaged, and rounded to the nearest whole number, resulting in a 12-month price target of $5.
Risk Factors
Key risks include clinical and regulatory challenges, partnership and financial uncertainties, commercial execution risks, legal and intellectual property issues, and potential market share competition.
About CNSide Diagnostic, LLC
CNSide Diagnostic, LLC, a subsidiary of Plus Therapeutics, develops and commercializes proprietary laboratory-developed tests like CNSide(R), which identify tumor cells that have metastasized to the CNS in patients with carcinomas and melanomas. The CNSide(R) CSF Assay Platform provides quantitative analysis of cerebrospinal fluid, improving the management of leptomeningeal metastases.
About Plus Therapeutics
Headquartered in Houston, Texas, Plus Therapeutics, Inc. is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for challenging CNS cancers. The company's innovative pipeline includes treatments for leptomeningeal metastases (LM) and recurrent glioblastoma (GBM). For more information, visit www.plustherapeutics.com.
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COMTEX_469713651/2927/2025-10-22T10:00:52
