CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, announced the pricing of its public offering. According to the announcement, the “reasonable best efforts” public offering involves participation from healthcare-focused institutional investors and certain officers and directors of the company. The offering is comprised of the purchase and sale of 13,333,334 shares of common stock (or common stock equivalents in lieu thereof); the stock is offered at a purchase price of $0.30 per share. In addition, CNSP agreed to issue Series A warrants and Series B warrants. Both series of warrants were for the purchase up to 13,333,334 shares of common stock, also at the exercise price of $0.30 per share; the warrants will be exercisable immediately following the date of issuance with expiration dates of five years and eighteen months, respectively. CNS Pharmaceuticals anticipates the offering will close on or about Feb. 1, 2024, and will be subject to the satisfaction of customary closing conditions. The company plans to use the net proceeds from the offering for its CNS-201 trial along with other R&D as well as for working capital purposes. A.G.P./Alliance Global Partners is acting as the lead placement agent, and Maxim Group LLC is acting as the co-placement agent in connection with the offering. The announcement also noted that CNSP agreed to amend certain existing warrant, subject to shareholder approval.
To view the full press release, visit https://ibn.fm/t9eyl
About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of anticancer 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 about the company, please visit 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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