CNSP News & Events

CNS Pharmaceuticals files to sell 9.79M shares of common stock for holders

"We believe CNS Pharmaceuticals has entered a transformational new phase defined by strategic clarity, financial strength and disciplined execution," said Rami Levin, President and Chief Executive Officer of CNS Pharmaceuticals. "Over the past several months, we have rebuilt the foundation of the Company by assemblinga highly experienced executive team, completed a rigorous strategic review, strengthened our balance sheet through an oversubscribed financing, initiated an aggressive search for differentiated clinical-stage assets capable of generating meaningful near-term catalysts and long-term shareholder value, and advanced discussions to out-license our legacy glioblastoma multiforme programs, Berubicin and TPI-287. The current biotechnology environment continues to create compelling acquisition opportunities, particularly for companies with capital, operational experience and strategic focus. We believe CNS Pharmaceuticals is now positioned to capitalize on this environment as we rapidly work to build and diversify our pipeline with high-value programs that have clear development pathways and the potential to drive substantial value creation."

CNS Pharmaceuticals entered into securities purchase agreements for a private placement financing that is expected to result in gross proceeds of approximately $22.5M to the Company, before placement agent fees and offering expenses. The private placement includes participation from institutional healthcare investors, including ADAR1 Capital, Ikarian Capital, Stonepine Capital Management and Nazare Partners. Pursuant to the terms of the securities purchase agreements, CNS is selling an aggregate of 650,000 shares of its common stock at a purchase price of $2.30 per share and pre-funded warrants to purchase 9,143,479 shares of Common Stock at a purchase price of $2.299 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per share. The private placement is expected to close on or about May 5, subject to satisfaction of customary closing conditions. A.G.P./Alliance Global Partners acted as the sole placement agent for the transaction.