Plus Therapeutics Inc 2024年度报告

2710 Reed Road, Suite 160,Houston, TX 77002(737) 255-7194 July 21, 2025 To Our Stockholders: In the last year, Plus Therapeutics made significant progress in advancing our radiotherapeutic pipeline. Inaddition, in mid-2024, we expanded our portfolio with our acquisition of CNSide®, a novel cerebrospinal fluidassay platform that enables the detection and management of central nervous system (CNS) cancers, a strategiccomplement to our therapeutic program. Our lead investigational radiotherapeutic drug, REYOBIQ™, is currently being evaluated for use in patients withthree types of central nervous system cancers, specifically leptomeningeal metastases (LM), pediatric braincancer (PBC), and recurrent glioblastoma (rGBM). Earlier in 2025, we completed the ReSPECT-LM safety trialand are now enrolling patients in a dose optimization trial intended to find a safe and effective dosing regime forREYOBIQ that we can incorporate in a US registrational trial. Also in 2025, the FDA cleared Plus Therapeuticsto begin enrolling patients in our Phase 1/2a clinical trial for children with brain cancer, and we anticipateenrollment to commence soon. Our pediatric trial builds on our successful Phase 1 adult glioblastoma trial, whichshows substantial safety margins and signals of efficacy. This data was published in early 2025 in the prestigiousmedical journal,Nature Communications. Our glioblastoma Phase 2 trial, ReSPECT-GBM, continues to enrollpatients in 2025. Of note, each of these trials continues to benefit from approximately $25M in aggregategrant support. Since the acquisition of CNSide, we have laid the groundwork for a successful relaunch of CNSide in the US.Our preparatory activities are largely complete and we plan to reintroduce the product in Texas in the second halfof 2025, extending that launch to all 50 states thereafter. Furthermore, in the past year, we achieved a number ofkey milestones for CNSide. First, we published multiple scientific articles highlighting the clinical value ofCNSide. Second, the CNSide core test is now included in the National Comprehensive Cancer CenterGuidelines. Third, we have completed and presented positive FORSEE clinical trial results. Fourth, we havebuilt out a centralized testing laboratory in Houston and validated key commercial elements such as pricingand reimbursement. Finally, we have hired an experienced diagnostics executive team to leadPlus Therapeutics’ CNSide commercial subsidiary. We continue to believe that our CNSide platformuniquely fills a $6 billion market opportunity in the CNS cancer diagnostic space. Additionally, we have taken action to capitalize the Company beyond our existing grant funding, supporting ourcapital requirements in the U.S. commercial launch of CNSide, as well as our path to FDA approval ofREYOBIQ. We anticipate continued clinical progress for our radiotherapeutic technology and realizingcommercial value from our strategic acquisition of CNSide. On behalf of our employees, management anddirectors, I would like to express our deep appreciation to our stockholders and partners for their help andsupport in 2024 and beyond. Marc H. Hedrick, M.D.President & Chief Executive Officer NOTICE OF 2025 ANNUAL MEETING OF STOCKHOLDERSTO BE HELD ON AUGUST 7, 2025 MEETING LOCATION:www.virtualshareholdermeeting.com/PSTV2025 PLUS THERAPEUTICS, INC.Headquarters2710 REED ROAD, SUITE 160, HOUSTON, TX 77002 Dear Plus Therapeutics, Inc. Stockholder: You are cordially invited to attend the 2025 Annual Meeting of the Stockholders of Plus Therapeutics, Inc. (the‘‘Annual Meeting’’). The Annual Meeting will be held on August 7, 2025, commencing at 9:00 a.m. (Eastern Time),and will be a completely virtual meeting of stockholders. The items of business for the meeting are to: (i)elect six (6) members of our board of directors for a one-(1) year term, to hold office until ourAnnual Meeting of Stockholders in 2026 and until their successors are duly elected and qualified,or until their earlier death, resignation or removal;(ii)approve, for purposes of complying with Nasdaq Listing Rule 5635(d), the potential issuance and saleof (i) up to Fifty Million Dollars ($50,000,000) of our common stock, par value $0.001 per share (the‘‘Common Stock’’) and (ii) up to One Million Dollars ($1,000,000) of shares of Common Stock (the‘‘Commitment Shares’’) as a commitment fee, in each case issuable to Lincoln Park Capital Fund, LLC(‘‘Lincoln Park’’) pursuant to our purchase agreement with Lincoln Park (the ‘‘Lincoln Park PurchaseAgreement’’);(iii) grant discretionary authority to our board of directors to (i) amend our Certificate of Incorporation,as amended (the ‘‘Certificate of Incorporation’’), to combine outstanding shares of our CommonStock, into a lesser number of outstanding shares, or a ‘‘reverse stock split,’’ at a specific ratiowithin a range of one-for-two (1-for-2) to a maximum of a one-for-two hundred fifty (1-for-250),with the exact ratio to be determined by our boa