Company: PSTV
Filing Date: 2025-06-09
Form Type: DRS
Source: 0000950123-25-005986
Chunk: 23

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-06-09
Form: DRS
Chunk 23
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                           | [ | ]% |     | $                   | [ | ] |
| $[ ]                     |     |                        | 15,000,000 |     |                           | [ | ]% |     | $                   | [ | ] |
| $[ ]                     |     |                        | 15,000,000 |     |                           | [ | ]% |     | $                   | [ | ] |

| (1) | Although the Purchase Agreement provides that we may sell up to $[ ] million of our common stock to                                                                                                                                                     
 Lincoln Park, we are only registering 15,000,000 shares of our common stock for resale under the registration statement of which this prospectus is a part, which may or may not cover all the shares of our common stock we ultimately sell to Lincoln 
 Park under the Purchase Agreement, depending on the purchase price per share.                                                                                                                                                                           |

| (2) | The denominator is based on [ ] shares of our common stock outstanding as of March 31, 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. 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, without giving effect to the Beneficial Ownership Cap.                                                                                                     |

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

12

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, 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 [ ], 2025), the purchase by Lincoln Park of the entire 15,000,000 shares being
registered for resale hereunder, which we have the right but not the obligation to sell to Lincoln Park, would