Plus Therapeutics soars 270% after reporting Q2 earnings results

Shares of pharmaceutical company Plus Therapeutics rose over 270% in Friday trading after the company reported its second quarter financial results after the market close on Thursday. Q2 RESULTS: Plus Therapeutics reported a Q2 net loss per share from continuing operations of ($5.12), with an operating cash burn for the quarter of approximately $1.6M. The company ended Q2 with approximately $4.5M of cash and cash equivalents. LOOKING AHEAD: In the release, Plus Therapeutics said in the second half of the year it intends to submit a Phase 2 clinical trial protocol for its lead pipeline drug, DocePLUS, in Small Cell Lung Cancer patients with platinum-sensitive disease who progressed at least 60 days after initiation of first-line chemotherapy to the FDA. Furthermore, Plus Therapeutics is pursuing manufacturing and commercial partners for DocePLUS as well as partners for its DoxoPLUS product -- a generic, injectable PEGylated liposomal doxorubicin for multiple cancer types. PRICE ACTION: Shares of Plus Therapeutics rose $10.56, or more than 272%, to $14.44 in Friday trading.