Plus Therapeutics, Inc. (PSTV) announced that its subsidiary CNSide Diagnostics has entered into a new payer coverage agreement with Highmark, effective April 1 2026. The deal adds coverage for an additional 8 million lives, bringing the total number of insured individuals eligible for the CNSide CSF Tumor Cell Enumeration assay to 75 million across the United States.
Highmark, a Blue Cross Blue Shield‑affiliated insurer and the fifth‑largest B‑CBS organization, serves nearly 8 million members nationwide. The agreement follows existing coverage by UnitedHealthcare and Humana and removes a significant reimbursement barrier, positioning CNSide to accelerate adoption in oncology centers nationwide and moving the company closer to its goal of 150 million covered lives by the end of 2026.
The CNSide assay, which has been performed more than 11,000 times at over 120 U.S. cancer institutions since 2020, demonstrates a sensitivity of 92 % and a specificity of 95 %. It influences treatment decisions in 90 % of cases and is estimated to reduce leptomeningeal metastases‑related healthcare costs by approximately 40 %, underscoring its clinical and economic value to payers.
The coverage expansion strengthens CNSide’s revenue pipeline and serves as a bridge to profitability for Plus Therapeutics, whose lead therapeutic, REYOBIQ, remains in Phase 2 development for recurrent glioblastoma and leptomeningeal metastases. Data from these trials are expected in Q3 and Q4 2026, and the company has engaged constructively with the FDA on its pivotal trial strategy, positioning REYOBIQ for potential accelerated approval.
Russ Havranek, EVP Corporate and Commercial Strategy at Plus Therapeutics, said, "Securing coverage with Highmark, a leading Blue Cross Blue Shield‑affiliated payer, marks another important milestone in expanding patient access to CNSide and reinforces the growing recognition among payers of its clinical and economic value."
In addition to the coverage expansion, the company’s board approved a 1‑for‑25 reverse stock split effective April 2 2026. Plus Therapeutics has recently completed a $15 million offering to extend its cash runway through 2027, and its market capitalization stands at $27.89 million with a negative free cash flow of $15.78 million in the last twelve months. The company aims to achieve breakeven for its CNSide business unit by 2027.
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