Company: PSTV
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047698
Chunk: 167

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 167
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2024

        2023

        Lease expense:

        Operating lease expense
         
        $
        145
         
        $
        141

        Total lease expense
         
        $
        145
         
        $
        141

        Cash payment information:

        Operating cash used for operating leases
         
        $
        180
         
        $
        141

        Total cash paid for amounts included in the measurement of lease liabilities
         
        $
        180
         
        $
        141

       Total rent expenses for each of the years ended December 31, 2024 and 2023 was $0.2 million, which includes leases in the table above, month-to-month operating leases, and common area maintenance charges.  The Company’s future minimum annual lease payments under operating leases at December 31, 2024 are as follows (in thousands): 

        Operating Leases

        2025
         
        $
        69

        2026

        11

        Total minimum lease payments

        80

        Less: amount representing interest
         
        $
        (5
        )

        Present value of obligations under leases

        75

        Less: current portion

        44

        Noncurrent lease obligations
         
        $
        31

             Manufacturing Agreement with SpectronRXOn November 5, 2024, the Company entered into a manufacturing services agreement with SpectronRx for drug product development and manufacturing, which includes an initial commitment fee of $0.3 million. Under this agreement, the Company will own all rights to intellectual property related to the products developed, while SpectronRx retains rights to its own technology. 

89

SpectronRx is required to negotiate a commercial supply agreement upon six months' written notice before the Company's first commercial manufacturing needs. The agreement will remain in place for five years, automatically renewing for successive one-year terms unless terminated with six months' notice. During the year ended December 31, 2024, the Company did not recognize any expenses related to this agreement.  Other Commitments and Contingencies	The Company has entered into agreements with various research organizations for pre-clinical and clinical development studies, which have provisions for cancellation. Under the terms of these agreements, the vendors provide a variety of services including conducting research, recruiting and enrolling patients, monitoring studies and data analysis. Payments under these agreements typically include fees for