KSS - Why Is Plus Therapeutics (PSTV) Stock Up 56% Today?
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Plus Therapeutics (NASDAQ:PSTV) stock is in the news Thursday as investors react to the company getting a $17.6 million grant.
That Product Development Research grant comes from the Cancer Prevention and Research Institute of Texas. The funding is being awarded to Plus Therapeutics to complete its development of Rhenium-186 NanoLiposome.
Rhenium-186 NanoLiposome is the company’s lead investigational drug candidate. It’s being developed to treat patients suffering from leptomeningeal metastases, which is cancer found in cerebrospinal fluid. This happens after advanced cancers spread to other parts of the body to cerebrospinal fluid and leptomeninges.
Dr. Andrew Brenner, Principal Investigator in the ReSPECT-LM Trial, said the following in a news release.
“Leptomeningeal metastases is a difficult and growing problem for patients with a variety of cancers and 186RNL represents a promising new potential option. Though still relatively early in development, the clinical data is compelling and I am pleased to see that CPRIT has recognized this novel therapy by virtue of this substantial award.”
News of the grant has PSTV stock seeing incredibly heavy trading on Thursday. As of this writing, more than 57 million shares of the stock have been traded. That’s a massive leap over its daily average trading volume is about 1.4 million shares.
PSTV stock is up 56% as of Thursday morning.
There’s more recent stock market news for traders to dive into below!
We’ve got all of the latest stock market coverage for investors to read on Thursday! A few examples include why shares of Vinco Ventures (NASDAQ:BBIG), Kohl’s (NYSE:KSS), and Faraday Future (NASDAQ:FFIE) stock are moving today. You can get more details from the following links!
More Stock Market News for Thursday
- What Is Going on With Vinco Ventures (BBIG) Stock Today?
- Kohl’s (KSS) Stock Sinks 4% as Inflation Takes a Toll on Sales
- What Is Going on With Faraday Future (FFIE) Stock Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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