CNS Pharmaceuticals (NASDAQ: CNSP) is a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system. The company today announced its entry into securities purchase agreements with health-care focused institutional investors for the purchase and sale of 568,000 shares of common stock in a registered direct offering and warrants to purchase up to 568,000 shares of common stock in a concurrent private placement (together with the registered direct offering, the “offering”) at a combined purchase price of $2.45 per share. The warrants issued per the concurrent private placement will have an exercise price of $2.32 per share, exercisable immediately following the date of issuance, with a 5-year expiration from the initial exercise date. Subject to the satisfaction of customary conditions, the closing of the offering is expected to occur on or about June 27, 2024. The gross proceeds are expected to be approximately $1.39 million, from which the company intends to use the net for working capital and general corporate purposes.
To view the full press release, visit https://ibn.fm/hpGZ6
About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. The company’s lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including 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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