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, today released its financial results for the second quarter ended June 30, 2024 (“Q2 2024”). The company also discussed the clinical development progress of Berubicin, its lead program, and TPI 287, its recently in-licensed abeotaxane for the treatment of brain malignancies. CNS Pharmaceutical expects to be able to release final topline data from its potentially pivotal trial of Berubicin in the first half of 2025. The trial is evaluating Berubicin in adult patients with recurrent glioblastoma multiforme (WHO Grade IV) after failure of standard first-line therapy. Additionally, the company plans to engage the U.S. FDA to seek guidance on advancing TBI 287 into a potential registration study of recurrent GBM.
The financial results for Q2 2024 included a net loss of approximately $2.5 million compared to approximately $4.0 million for the comparable period in 2023, R&D expenses of $1.1 million for Q2 2024 versus approximately $2.8 million for Q2 2023, and general and administrative expense of $1.4 million for Q2 2024 compared to approximately $1.2 million for Q2 2023. As of June 30, 2024, CNS Pharmaceuticals had cash of approximately $1.5 million. In addition, the company has raised total gross proceeds of approximately $12.4 million in financing between June 30, 2024, and August 14, 2024. As a result, the company has sufficient cash to fund its operations through the first quarter of 2025.
To view the full press release, visit https://ibn.fm/1GUZ6
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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