CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous system, today announced the pricing of an underwritten public offering of 5,000,000 shares of common stock and warrants to purchase up to 2,500,000 shares of common stock. According to the update, the shares of common stock and warrants are being sold together at a combined public offering price of $2.00 per share and warrant. The warrants will have an exercise price of $2.20 per share and will be immediately exercisable and expire five years from the issuance date. CNS Pharmaceuticals has granted a 45-day underwriter option for the purchase of up to an additional 750,000 shares of common stock and/or 375,000 warrants to cover over-allotments, if any. The company intends to use the net proceeds for its Phase 2 trial for Berubicin, other research and development, as well as for working capital. Subject to customary conditions, the offering is expected to close on or about Dec. 28, 2020. A.G.P./Alliance Global Partners is acting as the sole book-running manager for the offering.
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About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is developing novel treatments for primary and metastatic cancers of the brain and central nervous system. Its lead drug candidate, Berubicin, is proposed for the treatment of glioblastoma multiforme (“GBM”), an aggressive and incurable form of brain cancer. For more information, visit the company’s website at www.CNSPharma.com.
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://ibn.fm/CNSP
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