Revenue: As of FY2025, the actual value is USD 5.213 M, beating the estimate of USD 5.065 M.EPS: As of FY2025, the actual value is USD -0.29.EBIT: As of FY2025, the actual value is USD -14.87 M.Plus Therapeutics, Inc. reported its financial results for the year ended December 31, 2025, with comparisons to 2024.<h4>Grant Revenue</h4>Grant revenue was $5,213 thousand for the year ended December 31, 2025, a decrease from $5,824 thousand for the year ended December 31, 2024. These grants represent CPRIT’s share of costs for REYOBIQ development for leptomeningeal metastases (LM) treatment.<h4>Operational Metrics</h4>Total operating expenses for 2025 were $20,511 thousand, slightly down from $20,519 thousand in 2024. Research and development expenses decreased to $8,379 thousand in 2025 from $10,580 thousand in 2024. General and administrative expenses increased to $12,132 thousand in 2025 from $9,939 thousand in 2024.The total operating loss for the year ended December 31, 2025, was -$15,298 thousand, an increase from -$14,695 thousand for the year ended December 31, 2024, primarily due to the expansion of the CNSide operations team.The net loss for the year ended December 31, 2025, was -$22,386 thousand, compared to -$12,978 thousand for the year ended December 31, 2024, mainly due to a change in the fair value of derivative instruments from Q1 2025 financings.<h4>Cash Flow</h4>Net cash used in operating activities was -$20,775 thousand for 2025, compared to -$10,554 thousand for 2024.Net cash used in investing activities was -$854 thousand for 2025, an improvement from -$4,111 thousand for 2024.Net cash provided by financing activities significantly increased to $30,311 thousand in 2025 from $6,187 thousand in 2024.Cash, cash equivalents, and restricted cash stood at $8,758 thousand at the end of 2025, a substantial increase from $76 thousand at the end of 2024.<h4>Balance Sheet Highlights</h4>The company’s cash and investments balance was $13.1 million on December 31, 2025, up from $3.6 million on December 31, 2024.Total assets were $16,325 thousand as of December 31, 2025, compared to $6,633 thousand as of December 31, 2024.Total liabilities were $12,329 thousand as of December 31, 2025, down from $15,582 thousand as of December 31, 2024.Total stockholders’ equity improved to $3,996 thousand as of December 31, 2025, from a deficit of -$8,949 thousand as of December 31, 2024.<h4>Outlook / Guidance</h4>Plus Therapeutics, Inc. projects increased research and development expenses in 2026 due to clinical trial costs, manufacturing scale-up, and CNSide team expansion. General and administrative expenditures are also expected to rise, with a goal for CNSide Diagnostics to achieve breakeven by 2027. The company anticipates reporting ReSPECT-LM Phase 2 trial data in Q3 2026 and ReSPECT-GBM Phase 2 data in Q4 2026, aiming for FDA alignment on pivotal trial design.

Plus Therapeutics | 8-K: FY2025 Revenue Beats Estimate at USD 5.213 M