CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) Maintains Strong Cash Position as It Continues Drug Development Program Pursuing Treatment for GBM

November 10, 2022 at 08:05 AM EST

CNS Pharmaceuticals is focused on advancing its clinical development for the Berubicin drug candidate in order to bring meaningful treatment to GBM patients
GBM, which has a low survival rate, has limited treatment options when it progresses after first-line therapy
The company is looking to find a solution with Berubicin and is currently evaluating this drug candidate in a potentially pivotal global study
CNS’s ongoing R&D efforts are boosted by its strong cash position; in its Q2 2022 report, the company announced it had cash of about $9.0 million and working capital of $10.5 million

CNS Pharmaceuticals (NASDAQ: CNSP), an oncology drug development company specializing in developing anti-cancer drugs for the treatment of primary and metastatic brain and central nervous system (“CNS”) cancer, started 2022 on a high, closing an $11.5 million private placement whose net proceeds the company intended to deploy toward funding its clinical trials and preclinical programs as well as other research and development (“R&D”) activities and general corporate purposes. The additional funding not only boosted the company’s R&D efforts but also enhanced its cash position, as reflected in its subsequent financial reports (https://ibn.fm/GK93f).

In its report for the three months ended June 30, 2022 (“Q2 2022”), CNS Pharmaceuticals had cash and cash equivalents of about $9.0 million and working capital of $10.5 million (https://ibn.fm/UiG9a). And although the figure represented a drop from about $12.4 million and $13.7 million, respectively…

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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CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) Maintains Strong Cash Position as It Continues Drug Development Program Pursuing Treatment for GBM

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