PLUS THERAPEUTICS INC
For the period ended Aug 15, 2024. Filed Jul 10, 2024.
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Aug 15, 2024 · Filed Jul 10, 2024
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DEF 14A 1 edge20019156x1_def14a.htm DEF 14A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(AMENDMENT NO. )
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Filed by a Party other than the Registrant ☐
Check the appropriate box:
| ☐ | Preliminary Proxy Statement |
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| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
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| ☒ | Definitive Proxy Statement |
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| ☐ | Definitive Additional Materials |
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| ☐ | Soliciting Material Pursuant under § 240.14a-12 |
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| ☐ | | | Fee paid previously with preliminary materials. |
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4200 Marathon Blvd. Suite 200,
Austin, TX 78756
(737) 255-7194
July 10, 2024
To Our Stockholders:
Last year Plus Therapeutics made significant progress in advancing our targeted radiotherapeutic platform and strengthening our balance sheet. In 2024, we are poised to build on that progress and explore new opportunities aimed at adding significant value to our pipeline.
Our lead investigational targeted radiotherapeutic drug, rhenium (Re186) obisbemeda is currently being evaluated for use in patients with central nervous system cancers, specifically leptomeningeal metastases (LM) and recurrent glioblastoma (rGBM).
Our LM therapy is being investigated in our ReSPECT-LM single administration dose escalation trial, expected to complete Phase 1 enrollment as soon as this year. This trial continues to benefit from a 3-year, $17.6 million grant by the Cancer Prevention & Research Institute of Texas awarded in 2022, and an FDA Fast Track designation for use in patients with breast cancer. Interim ReSPECT-LM data was presented at the 2023 Society for Neuro-Oncology Annual Meeting and showed safety, feasibility, and signs of tumor response in early cohorts. Our next steps include evaluating and presenting final Phase 1 data, initiating a Phase 1 multi-dose clinical trial, and potentially starting a Phase 2/3 single-dose registrational trial pending final data read out and agreement with the FDA.
In 2023, we licensed a novel diagnostic and disease monitoring assay (CNSide®) for LM that offers clear and important advantages compared to existing diagnostic methodologies. As LM is two-to-four times underdiagnosed, this assay may substantially increase the total addressable market for our LM therapy. Subsequently in 2024, we obtained all rights for the assay, and plan to commercialize and eventually partner the asset. Several peer-reviewed studies supporting the utility of this assay have been published or are in press, and the FORESEE clinical trial data will be presented on August 8-10 at the 2024 SNO/ASCO CNS Metastases Conference.
Our rGBM therapy is currently being investigated in the Phase 2 ReSPECT-GBM trial, funded in part by the U.S. National Institutes of Health. Interim data from the trial were presented at the 2023 Society for Neuro-Oncology Annual Meeting and showed continued safety, feasibility, and an efficacy signal favorable to the standard of care. The Phase 2 trial continues to treat patients and add new sites with the goal of completing enrollment in the next few quarters. The Company will present the data and proceed to a Phase 3 pivotal trial thereafter.
We also plan to obtain an FDA Investigational New Drug (“IND”) approval to evaluate rhenium (Re186) obisbemeda in patients with pediatric brain cancer (PBC), specifically ependymoma and high-grade glioma, as part of the ReSPECT-PBC Phase 1 clinical trial. This trial recently received a $3 million award to support the trial by the U.S. Department of Defense.
In 2023, we strengthened and expanded our supply chain to enable registrational clinical trials and commercial readiness. In 2024, we raised sufficient capital, which, combined with existing grant funding, allows the company to achieve its plans through 2026.
We are off to a great start in 2024 and the future is bright for Plus Therapeutics! On behalf of our employees and board of directors, I would like to express our appreciation for our stockholders and partners for their help and support in 2023 and beyond.
| | | Sincerely, |
| | | |
| | | Marc H. Hedrick |
| | | President & Chief Executive Officer |
NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON AUGUST 15, 2024
| PLUS THERAPEUTICS, INC. Headquarters 4200 MARATHON BLVD. SUITE 200, AUSTIN, TX 78756 | | | MEETING LOCATION: www.virtualshareholdermeeting.com/PSTV2024 |
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Dear Plus Therapeutics, Inc. Stockholder:
You are cordially invited to attend the 2024 Annual Meeting of the Stockholders of Plus Therapeutics, Inc. (the “Annual Meeting”). The Annual Meeting will be held on August 15, 2024, 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 our Annual Meeting of Stockholders in 2025 and until their successors are duly elected and qualified, or until their earlier death, resignation or removal; |
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| (ii) | ratify the appointment of BDO USA, P.C. as our independent registered public accounting firm for the 2024 fiscal year ending December 31, 2024; |
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| (iii) | provide a non-binding advisory vote on the compensation of our named executive officers; |
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| (iv) | approve the fourth amendment and restatement of the Company’s 2020 Stock Incentive Plan, the full text of which resolution is set out in the accompanying proxy statement under the heading “Proposal #4 - Proposal to Approve the Fourth Amendment and Restatement of the 2020 Stock Incentive Plan”; and |
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| (v) | transact such any other business as may be properly brought before the Annual Meeting. |
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The Board recommends that stockholders (a) elect each board member nominee; (b) vote to approve items (ii), (iii) and (iv).
In light of our successful virtual annual meetings of stockholders in the past three years, the Annual Meeting will be held only via live webcast again this year. We believe that the virtual meeting format also expands stockholder access, participation and improves communications, and we encourage you to attend online and participate.
You will be able to attend and participate in the Annual Meeting online, vote your shares electronically, and submit your questions prior to and during the meeting by visiting: www.virtualshareholdermeeting.com/PSTV2024. To vote at the meeting, you must have your control number that is shown on your proxy card. There will not be a physical meeting location and you will not be able to attend the annual meeting in person.
Only stockholders of record at the close of business on June 25, 2024, are entitled to notice of and to vote at the Annual Meeting. For ten (10) days prior to the Annual Meeting, a complete list of stockholders entitled to vote at the Annual Meeting will be available at the Corporate Secretary’s office at 4200 Marathon Blvd. Suite 200, Austin, TX 78756. We expect to commence mailing these proxy materials to our security holders on or about July 10, 2024.
You are cordially invited to attend the Annual Meeting live via the Internet. It is important that your shares are represented at the Annual Meeting. Even if you plan to attend the Annual Meeting live via the Internet, we hope that you will promptly vote by dating, signing and returning the enclosed proxy card or vote via the Internet or by telephone. This will not limit your ability to attend or vote during the Annual Meeting.
Plus Therapeutics, Inc.
By Order of the Board,
MARC H. HEDRICK
President & Chief Executive Officer
Austin, Texas, USA
July 10, 2024
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.