Company: PSTV
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006916
Chunk: 25

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-08-04
Form: DRS
Chunk 25
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 to Lincoln Park under the Purchase Agreement, depending on the purchase price per share. Such shares consist of up to [31,387,097] shares of our common stock from time to time from and after the date 
 of this prospectus through sales under the Purchase Agreement and [1,612,903] shares of our common stock that are the Initial Commitment Shares, for which we received no cash consideration.                                                             |

| (2) | The denominator is based on 99,264,526 shares of our common stock outstanding as of July 30, 2025,                                                                                                                                                       
 adjusted to include the number of shares set forth in the adjacent column which we would have sold to Lincoln Park, assuming the purchase price in the adjacent column, and the issuance of the Initial Commitment Shares. The numerator is based on the 
 number of shares issuable under the Purchase Agreement at the corresponding assumed purchase price set forth in the adjacent column and the number of Initial Commitment Shares, without giving effect to the Beneficial Ownership Cap or the Exchange   
 Cap.                                                                                                                                                                                                                                                     |

| (3) | The closing sale price per share of our common stock on July 30, 2025. |

13

Confidential Treatment Requested by Plus Therapeutics, Inc.

Pursuant to 17 C.F.R. Section 200.83

USE OF PROCEEDS

This prospectus relates to shares of our common stock that may be offered and sold from time to time by Lincoln Park. We will receive no
proceeds from the sale of shares of common stock by Lincoln Park in this offering. We may receive up to $50.0 million in aggregate gross proceeds under the Purchase Agreement, of which $[●] million remains to be purchased (initially
$25 million and if the full $25 million is purchased, then immediately and automatically up to an additional $25 million aggregate gross proceeds), from any sales we make to Lincoln Park pursuant to the Purchase Agreement. Assuming a
purchase price of $[●] (which represents the closing price of our common stock on August [●], 2025), the purchase by Lincoln Park of the entire 33,000,000 shares being registered for resale hereunder, which we have the right but not the
obligation to sell to Lincoln Park, would result in gross proceeds to us of approximately $[●] million, and we estimate approximately $[●] million of net proceeds, after estimated fees and expenses. See “Plan of Distribution”
elsewhere in