CNS Pharmaceuticals, Inc. - CNSP STOCK NEWS

CNS Pharmaceuticals has announced a public offering of approximately 1,889,764 shares of common stock and associated warrants, priced at $3.175 per share. The offering aims to raise funds for ongoing clinical trials and research & development. The warrants, immediately exercisable at $3.03, will expire in five years. The offering is slated to close on or about December 5, 2022. Additionally, existing warrants will be amended to reduce their exercise price to $3.03. H.C. Wainwright & Co. serves as the exclusive lead placement agent.

CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) has announced a 1-for-30 reverse stock split effective at 4:01 PM ET on November 28, 2022. This move, approved by stockholders, aims to increase the trading price per share to comply with Nasdaq's minimum listing requirements. Following the split, each 30 shares will convert into one, with warrants and equity rights proportionately adjusted. The par value remains at $0.001 per share, and authorized shares stay at 75 million. No fractional shares will be issued, rounding up any entitlements.

CNS Pharmaceuticals reported progress in its pivotal trial for Berubicin, treating recurrent glioblastoma multiforme (GBM), with patient enrollment now active across 29 of 68 sites in the U.S. and Europe. The company anticipates an interim analysis in mid-2023. Financially, CNS posted a $3.4 million net loss for Q3 2022, down from $3.8 million in 2021, attributed to reduced drug development costs. As of September 30, 2022, CNS held $7.0 million in cash, expected to fund operations into Q1 2023.

CNS Pharmaceuticals has initiated dosing for its first patient in France as part of a global trial for Berubicin, targeting recurrent glioblastoma multiforme (GBM).

The ongoing study aims to evaluate the drug's safety and efficacy, with a planned interim analysis after 30-50% of participants complete six months in the trial. A total of 68 trial sites across the U.S. and Europe have been established.

Berubicin, the first anthracycline to cross the blood-brain barrier, has received Fast Track and Orphan Drug Designation from the FDA.

CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) announced participation in the American Brain Tumor Association's Breakthrough for Brain Tumors® 5K Run on November 5, 2022, in Los Angeles, CA. CEO John Climaco emphasized the urgent need for effective glioblastoma treatment options, stating, "Supporting these patients is not just a priority; it is why we do what we do." The event aims to raise funds for brain tumor research and patient care. CNS Pharmaceuticals is developing innovative cancer treatments, including Berubicin, which crosses the blood-brain barrier, and WP1244, a potent drug candidate for various cancers.

CNS Pharmaceuticals (NASDAQ: CNSP) has announced the activation of its first clinical trial sites in Europe for a pivotal global trial of Berubicin, a treatment for recurrent glioblastoma multiforme (GBM). This action supports the ongoing evaluation of Berubicin's efficacy and safety against the standard care, Lomustine. The FDA has granted Fast Track and Orphan Drug Designations for Berubicin, accelerating its development process. CEO John Climaco emphasized the commitment to advancing this clinical program and the urgency of addressing the unmet needs in GBM.

CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) has initiated its first clinical trial sites in Europe, specifically in France and Spain, for the global study evaluating Berubicin against recurrent glioblastoma multiforme (GBM), a severe brain cancer. Currently, 26 of 59 planned sites are open across various countries including the U.S. and Italy. This potentially pivotal trial aims to assess Berubicin's efficacy compared to Lomustine, with Overall Survival as the primary endpoint. The FDA has granted Berubicin Fast Track and Orphan Drug Designation, facilitating expedited development.

CNS Pharmaceuticals (NASDAQ: CNSP) will host a live moderated video webcast on September 28, 2022, at 1:00 PM ET to discuss its pivotal global study of Berubicin for treating glioblastoma multiforme (GBM). This adaptive, multicenter trial aims to assess the drug’s efficacy and safety in patients with recurrent GBM following standard therapy failure, focusing on overall survival as the primary endpoint. An interim analysis will evaluate safety and efficacy after 30-50% of patients complete the study. The event will allow audience questions.

CNS Pharmaceuticals (NASDAQ: CNSP) announced that CEO John Climaco will present at the H.C. Wainwright 24th Annual Global Investment Conference in New York from September 12-14, 2022. A video webcast of the presentation will be available on-demand starting September 12 at 7:00 AM ET and archived for 90 days. CNS Pharmaceuticals focuses on developing innovative cancer treatments, including its lead drug Berubicin, which targets brain cancers. The company will also participate in virtual one-on-one meetings with qualified investors during the conference.