Plus Therapeutics Inc (NASDAQ:PSTV) said its CNSide Diagnostics unit has received accreditation from the College of American Pathologists, a widely recognized standard in laboratory quality, sending shares of the Nasdaq-listed company up 8.7% to $5.89 Thursday.
CNSide Diagnostics' Houston-based clinical laboratory underwent a rigorous on-site inspection evaluating clinical protocols, documentation, quality control procedures, personnel qualifications, equipment, facilities, and overall laboratory management. The lab now joins more than 8,000 CAP-accredited facilities worldwide.
"Achieving CAP accreditation is a defining milestone for CNSide Diagnostics and an important validation of the quality, rigor, and operational discipline our team has built into every aspect of our laboratory," said Russ Bradley, President and General Manager of CNSide Diagnostics.
The accreditation is expected to support broader payer coverage and reimbursement discussions and accelerate commercial expansion of the CNSide CSF Assay Platform, which targets patients with or at risk for leptomeningeal metastases and other central nervous system cancers.
The milestone also reinforces clinical confidence among oncologists and health systems, supports health system adoption, and strengthens the quality infrastructure needed to expand the CNSide platform's test menu.
Plus Therapeutics develops precision diagnostics and radiopharmaceuticals for CNS cancers, with lead programs in leptomeningeal metastases and recurrent glioblastoma.