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, has closed on its previously announced private placement. The company announced that the placement was comprised of 12,105,264 shares of common stock (or prefunded warrants) and warrants at a purchase at $0.95 per share or warrant. The placement was valued at approximately $11.5 million gross proceeds for CNSP, which plans to use the funds for clinical trials and preclinical programs as well as other R&D efforts and general corporate purposes. The placement was not a public offering and the securities have not been registered under the Securities Act of 1933, noted the company, which also stated that it will file an initial registration statement with the Securities and Exchange Commission (“SEC”) covering the resale of the shares of common stock issued to the investors in the next 15 days.
To view the full press release, visit https://ibn.fm/4VUK1
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, an aggressive and incurable form of brain cancer. Additionally, CNS Pharmaceuticals is advancing the development of its WP1244 drug technology, which utilizes anthracycline and distamycin-based scaffolds to create small molecule agents and is believed to be 500 times more potent than daunorubicin in inhibiting tumor cell proliferation. Preclinical studies of WP1244 demonstrated high uptake in the brain with antitumor activity. CNS Pharmaceuticals is evaluating the use of WP1244 in the treatment of brain, pancreatic and ovarian cancers as well as lymphomas. 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
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the QualityStocks website applicable to all content provided by QS, wherever published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment