PLUS THERAPEUTICS, INC.
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 30, 2025
CNSY$0.68+19.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| For the Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows used in operating activities: | ||
| Net loss | $(16,673) | $(9,075) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 300 | 524 |
| Amortization of deferred financing costs and debt discount | — | 20 |
| Stock-based compensation expense | 827 | 422 |
| Noncash financing expenses | 3,061 | 3,545 |
| Change in fair value of derivative instruments | 2,631 | (5,654) |
| Accretion of discount on short-term investments | (19) | (70) |
| Reduction in the carrying amount of operating lease right-of-use assets | 53 | 96 |
| Gain on sale of assets | (16) | — |
| Increases (decreases) in cash caused by changes in operating assets and liabilities: | ||
| Other assets | 635 | 704 |
| Accounts payable and accrued expenses | (6,308) | 1,326 |
| Change in operating lease liabilities | (54) | (97) |
| Deferred grant liability | 1,045 | (1,084) |
| Net cash used in operating activities | (14,518) | (9,343) |
| Cash flows used in investing activities: | ||
| Purchases of property and equipment | (37) | (135) |
| Proceeds from sale of property and equipment | 30 | — |
| Purchase of short-term investments | (11,068) | (7,145) |
| Redemption of short-term investments | 11,305 | 3,650 |
| Purchase of intangible assets | (7) | (545) |
| Net cash provided by (used in) investing activities | 223 | (4,175) |
| Cash flows provided by financing activities: | ||
| Principal payments of term loan obligation | — | (3,996) |
| Proceeds from credit facility | — | 3,292 |
| Repayment of credit facility | (3,292) | — |
| Payment of financing costs | (2,250) | — |
| Proceeds from issuance of notes payable and warrants | 3,738 | — |
| Repayment of notes payable | (3,703) | — |
| Purchase of treasury stock | — | (374) |
| Proceeds from sale of common stock, pre-funded warrants and warrants | 15,927 | 7,265 |
| Proceeds from sale of common stock under Lincoln Park Purchase Agreement | 19,612 | — |
| Payment to investors pursuant to Letter Agreement (Note 13) | (2,293) | — |
| Offering costs for sale of common stock | (231) | — |
| Net cash provided by financing activities | 27,508 | 6,187 |
| Net increase (decrease) in cash and cash equivalents | 13,213 | (7,331) |
| Cash and cash equivalents at beginning of period | 76 | 8,554 |
| Cash and cash equivalents at end of period | $13,289 | $1,223 |
| Supplemental disclosure of cash flows information: | ||
| Cash paid during period for: | ||
| Interest | $539 | $32 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Unpaid liability to investors pursuant to Letter Agreement (Note 13) | $6,391 | $— |
| Exchange of warrants for notes payable | $3,694 | $— |
| Redemption of notes by issuance of common stock, pre-funded warrants and warrants | $3,512 | $— |
| Unpaid offering cost | $252 | $— |
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