HOUSTON, Nov. 13, 2019 /PRNewswire/ -- CNS
Pharmaceuticals, Inc. (NASDAQ: CNSP) ("Company"), a pre-clinical
stage biotechnology company specializing in the development of
novel treatments for brain tumors, today announced the closing of
its initial public offering of 2,125,000 shares of common stock at
an initial public offering price of $4.00 per share. The gross proceeds from the
offering, before deducting underwriting discounts and commissions
and other offering expenses payable by the Company, were
$8.5 million. In addition, the
Company has granted the underwriters a 45-day option to purchase up
to an additional 318,750 shares of common stock at the initial
price to the public less underwriting discounts and commissions.
The Company's common stock is listed on the NASDAQ Capital Market
under the symbol CNSP.
The Benchmark Company, LLC acted as sole Book Running Manager
for the offering.
A registration statement on Form S-1 (File No. 333-232443)
relating to the shares was filed with the Securities and Exchange
Commission ("SEC") and became effective on November 7, 2019. The offering was made only by
means of a prospectus. Copies of the final prospectus may be
obtained from The Benchmark Company, LLC, Attn: Prospectus
Department, 150 E 58th Street, 17th floor, New York, NY 10155, 212-312-6700, Email:
prospectus@benchmarkcompany.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Berubicin
Berubicin is an anthracycline, a class
of drugs among the most powerful chemotherapy drugs and effective
against more types of cancer than any other class of
chemotherapeutic agents. Anthracyclines are designed to damage the
DNA of targeted cancer cells by interfering with the action of the
topoisomerase II, a critical enzyme enabling cell proliferation.
Berubicin was developed at the MD Anderson Cancer Center (MDACC),
the world's largest cancer research facility. Berubicin appeared to
demonstrate one Durable Complete Response in a Phase I human
clinical trial conducted by a prior developer.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is
a pre-clinical stage biotechnology company specializing in the
development of novel treatments for primary and metastatic brain
and central nervous system tumors. Its lead candidate Berubicin is
for the treatment of glioblastoma, a type of brain cancer currently
considered incurable, as well as pancreatic and ovarian cancers,
and lymphonas. The Company entered into an IP agreement with
Houston Pharmaceuticals, Inc. and a Purchase Agreement with Reata
Pharmaceuticals Inc. For more information,
visit www.cnspharma.com
Investor Relations Contact
James Salierno / Kait
Brosco
The Ruth Group
646-536-7000
jsalierno@theruthgroup.com
kbrosco@theruthgroup.com
Media Contact
Kirsten
Thomas
The Ruth Group
(508) 280-6592
kthomas@theruthgroup.com
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SOURCE CNS Pharmaceuticals, Inc.