Plus Therapeutics Inc. (NASDAQ: PSTV) reported first quarter 2026 financial results, including revenue of $1.0 million compared to $1.1 million in the same period last year. The company posted a net loss of $6.9 million, or $1.05 per share, versus a net loss of $17.4 million, or $29.86 per share, in the first quarter of 2025.

The company expanded insurance coverage for its CNSide diagnostic assay to approximately 81 million covered lives through agreements with four national or regional payers, including United Healthcare, Humana, Highmark, and Blue Shield of California. CNSide received a unique PLA code for billing and enrolled with Medicare during the quarter.

Plus Therapeutics secured FDA Orphan Drug Designation for REYOBIQ in pediatric malignant gliomas on April 8, 2026. The FDA broadened the designation beyond the company's original request to include progressive pediatric ependymoma. The company also obtained an American Medical Association Category III CPT reimbursement code for convection-enhanced delivery with REYOBIQ.

Cash and investments totaled $15.1 million as of March 31, 2026, compared to $8.6 million at December 31, 2025. The increase reflects approximately $15 million in gross proceeds from a public offering completed in January 2026, partially offset by operating expenditures and a $4.5 million investor liability payment.

Total operating loss for the quarter was $7.1 million compared to $3.5 million in the prior year period, primarily due to expanded CNSide commercial operations and continued investment in REYOBIQ Phase 2 trial execution.

The company strengthened its leadership team with three senior appointments: Eric J. Daniels as Chief Development Officer, Randy H. Goodman as Vice President of Value Strategy and Health Economics & Outcomes Research, and Colby Squire as Vice President of Research & Development.