Plus Therapeutics Inc Down 12.43% To $0.26 After Earnings Miss

Plus Therapeutics Inc (PSTV) missed earnings estimates for Q1 2023 this afternoon.

Plus Therapeutics Inc's earnings came in at an EPS loss of $0.14 per share, 8% lower than estimates for an EPS loss of $0.13 per share. The firm's loss per share narrowed by 26% since reporting a loss of $0.19 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $506 thousand. That is an increase of 0.00% in revenues from the year-ago report and is 31.62% lower than consensus estimates set at $740 thousand.

The stock is down 12.43% to $0.26 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Plus Therapeutics Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Plus Therapeutics Inc is a clinical-stage pharmaceutical company. The company focused on the discovery, development, and delivery of complex and innovative treatments for patients battling cancer and rare diseases. Its product pipeline includes Patented RNL and Patented DocePLUS.