PSTV stock is soaring more than 200% this morning after releasing its second-quarter report yesterday, August 15. What’s interesting is that the report highlights that net loss has climbed, so it’s not the company’s financial data that has sparked investor interest.
So what did, then? Well, people have their speculations. Let’s find out what the investor community has been saying.
PSTV Stock Jumps Nearly 200%: Why?
On Thursday, August 15, Plus Therapeutics (NASDAQ:PSTV), which is based in Austin, Texas, posted its financial results for the second quarter of 2019. Immediately, one notices that the company’s net loss increased, with Plus Therapeutics saying net loss from operations was $2.3 million. As for total net loss, this came to $9.1 million. For perspective, that’s $20.67 per share.
With those figures, people seem to agree that it’s not the company’s figures from Q2 that sent PSTV stock deep into the green zone Friday. Instead, sources believe it has to do with DocePlus, the company’s lead drug.
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During the second-quarter, Plus Therapeutics completed Phase 1 data for DocePlus (the drug is being developed for non-small cell lung cancer). It was also granted orphan drug designation by the FDA. With this positive news, Plus Therapeutics said it will submit a Phase 2 clinical trial protocol for DocePlus to the United States.
Most likely it is the information surrounding the company’s DocePlus drug that sent PSTV stock soaring.
According to Yahoo Finance, as of 12:08 PM EDT, PSTV stock is trading at $12.68 on the Nasdaq Exchange; this puts PSTV stock up a whopping 226%.
Takeaway
What do you think about the Plus Therapeutics earnings report? Do you understand why PSTV stock is climbing the way that it is? Were you surprised by the net loss figures? Further, do you think today’s surge has more to do with the information released about DocePlus?
Let us know your thoughts in the comments below!
Featured image: PixaBay
