CNS Pharmaceuticals, Inc. - CNSP STOCK NEWS

CNS Pharmaceuticals (NASDAQ:CNSP) reported its Q2 2024 financial results and provided updates on its clinical programs. Key highlights include:

1. Completion of enrollment in the potentially pivotal GBM study for Berubicin, with topline data expected in H1 2025.

2. Strategic in-licensing of TPI 287, synergistic with Berubicin, for recurrent GBM treatment.

3. Net loss of $2.5 million for Q2 2024, down from $4.0 million in Q2 2023.

4. R&D expenses decreased to $1.1 million from $2.8 million year-over-year.

5. Cash position of $1.5 million as of June 30, 2024, with additional $12.4 million raised by August 14, 2024.

The company is focused on developing novel treatments for brain and central nervous system cancers, particularly glioblastoma multiforme (GBM).

CNS Pharmaceuticals (NASDAQ:CNSP) has expanded its pipeline by in-licensing TPI 287, a late-stage, potential blood-brain barrier permeable abeotaxane for treating brain malignancies. The company obtained exclusive rights from Cortice Biosciences in exchange for 616,698 shares and potential future milestone payments. TPI 287 has shown promising results in over 350 patients, including a 60% objective response rate and 96% disease control rate in a Phase 1 study for recurrent glioblastoma (GBM). CNS plans to engage with the FDA to design a registration study for TPI 287 in recurrent GBM, aiming to start in 2025. This complements their ongoing Berubicin program, with topline results expected in H1 2025. The company also launched a new corporate brand and website to align with its focus on GBM treatment.

CNS Pharmaceuticals (NASDAQ:CNSP) has announced that its abstract has been accepted for a poster presentation at the 2024 SNO/ASCO CNS Cancer Conference in Denver, CO. The presentation, titled 'Use of a Brain-Penetrating Anthracycline in Anthracycline-Sensitive Brain Metastases: The Promise of Berubicin', will be delivered by Dr. Sandra Silberman, the company's Chief Medical Officer. The poster falls under the category of Research Methods and Trial Design Considerations and is scheduled for August 8, 2024, from 7:15 - 9:00 PM MT in the Plaza Exhibit Hall of the Sheraton Denver Downtown Hotel.

CNS Pharmaceuticals (NASDAQ:CNSP), a biopharmaceutical company focused on developing novel treatments for brain and central nervous system cancers, has announced its participation in the Virtual Investor Closing Bell Series. The event will take place on Wednesday, June 17, 2024, at 4:00 PM ET.

CEO John Climaco will provide a corporate overview and answer questions from participants during the live video webcast. Interested parties can access the event through the Company's website, with a replay available for 90 days following the presentation.

This virtual event offers an opportunity for investors and stakeholders to gain insights into CNS Pharmaceuticals' current developments and future plans in the field of cancer treatment.

CNS Pharmaceuticals announced a registered direct offering and concurrent private placement, raising approximately $1.98 million before expenses. The company will sell 1,425,000 shares of common stock at $1.39 each, along with warrants to purchase an equal number of shares at $1.26 per share, exercisable immediately and expiring in 5 years. The closing is expected around July 5, 2024, pending customary conditions. Net proceeds will support working capital and general corporate purposes. The offering is conducted under an effective shelf registration statement and a private placement exemption.

CNS Pharmaceuticals announced a registered direct offering and concurrent private placement, selling 568,000 shares of common stock and issuing warrants for an additional 568,000 shares. The combined purchase price per share and warrant is $2.45, with warrants exercisable at $2.32. The gross proceeds are expected to be around $1.39 million before expenses.

The offering will close around June 27, 2024, pending customary conditions. Net proceeds will go towards working capital and general corporate purposes. The shares will be issued under an effective shelf registration statement filed with the SEC, while the warrants will be issued under an exemption from registration requirements.

CNS Pharmaceuticals (NASDAQ:CNSP) announced a securities purchase agreement with institutional investors, involving a registered direct offering of 366,000 shares of common stock and warrants to purchase up to another 366,000 shares. The combined purchase price is $3.75 per share, and the warrants have an exercise price of $3.62, expiring in 5 years. The offering is expected to close around June 17, 2024, bringing in gross proceeds of $1.37 million. The net proceeds will be used for working capital and general corporate purposes. The offering is based on a registration statement declared effective by the SEC on May 17, 2024.

CNS Pharmaceuticals (NASDAQ: CNSP) announces a 1-for-50 reverse stock split effective June 4, 2024, aiming to boost per-share price and comply with Nasdaq's minimum share price listing requirement.

From June 5, 2024, CNSP shares will trade on a split-adjusted basis under the new CUSIP number 18978H300.

All outstanding common stock, warrants, equity-based awards, and other equity rights will be proportionally adjusted. No fractional shares will be issued; instead, stockholders entitled to fractional shares will receive the nearest whole number.

The par value of the stock remains $0.001, and the authorized shares remain at 300 million.

CNS Pharmaceuticals, a biopharmaceutical company focused on brain and central nervous system cancer treatments, announced that its CEO, John Climaco, will participate in a fireside chat at Alliance Global Partner's 2024 Healthcare Company Showcase.

The event is scheduled for May 21, 2024, at 1:40 PM ET and will be webcast live on the company's website.