Plus Therapeutics (PSTV) Investor update summary

Corporate rebranding and strategic direction

• Announced rebranding to Cerenome with new Nasdaq ticker CNSY effective August 3, 2026, reflecting a broader focus on integrated CNS oncology, including therapeutics, diagnostics, and proprietary data.

• The new name aligns with the company's evolution beyond radiotherapeutics, emphasizing integration of therapy, diagnostics, and data for CNS cancers.

• Operational structure will maintain distinct business units for therapeutics, diagnostics, and data analytics/AI, leveraging native AI for efficiency and commercial opportunity.

• Launch of new corporate website and coordinated investor communications planned for August, with full brand rollout at SNO/ASCO meeting.

Therapeutics division and clinical progress

• REYOBIQ (rhenium-186 obisbemeda) advancing in multiple CNS cancer indications, with 2026 objectives on track: dose optimization in ReSPECT-LM phase II, enrollment in ReSPECT-GBM phase II, manufacturing scale-up, and initiation of ReSPECT-PBC pediatric trial.

• Interim data for ReSPECT-LM expected in H2 2026; trial design incorporates FDA feedback, including randomization and patient-reported outcomes.

• ReSPECT-GBM phase II has enrolled 31 of 34 subjects, with data expected Q4 2026; pivotal trial decision will be data-dependent.

• Manufacturing and supply chain improvements are on schedule, supporting both clinical and early commercial needs, with key FDA recommendations implemented.

• RESPECT-PBC pediatric trial approved by DoD and IRB, with first dosing expected Q3 2026.

Diagnostics (CNSide) division update

• CNSide platform expanded payer coverage from 67 million to 126 million covered lives in 2026, with recent agreements from Highmark, Blue Shield of California, and Elevance Health.

• Four 2026 goals on track: expanding U.S. payer coverage to 150M+ lives, securing Medicare pathway, achieving 1,250 annualized test order run rate, and launching additional CSF tumor characterization assays.

• Medicare enrollment and PLA code effective July 1, enabling direct claims submission; MAC determinations and fee schedule pricing are next milestones.

• Test order volume grew 64% Q1-Q2, with June setting a record; 232 tests performed YTD and physician adoption tripled since January.

• Plans to launch three new CSF specimen assays in Q3 2026 to enhance clinical data and value, with incremental reimbursement expected.