CNS Pharmaceuticals (CNSP) Plans to Raise $9 Million in November 8th IPO

CNS Pharmaceuticals (CNSP) plans to raise $9 million in an IPO on Friday, November 8th, IPO Scoop reports. The company plans to issue 2,100,000 shares at $4.00-$5.00 per share.

CNS Pharmaceuticals has a market cap of $70.7 million.

Benchmark acted as the underwriter for the IPO.

CNS Pharmaceuticals provided the following description of their company for its IPO: “We are a preclinical stage pharmaceutical company organized as a Nevada corporation in July 2017 to focus on the development of anticancer drug candidates for the treatment of brain and central nervous system tumors, based on intellectual property that we license under a license agreement with HPI and own pursuant to a collaboration and asset purchase agreement with Reata.We believe our lead drug candidate, Berubicin, if approved by the FDA, may be a significant discovery in the treatment of glioblastoma. Glioblastoma are tumors that arise from astrocytes, which are star-shaped cells making up the supportive tissue of the brain. These tumors are usually highly malignant (cancerous) because the cells reproduce quickly and they are supported by a large network of blood vessels. Berubicin is an anthracycline, which is a class of drugs that are among the most powerful chemotherapy drugs known. Based on limited clinical data, we believe Berubicin is the first anthracycline that appears to have crossed the BBB and target brain cancer cells. While our current focus is solely on the development of Berubicin, we are also in the process of attempting to secure intellectual property rights in additional compounds that may be developed into drugs to treat cancers. “.

CNS Pharmaceuticals was founded in 2017 and has 53 employees. The company is located at 2100 West Loop South, Suite 900, Houston, TX 77027, US and can be reached via phone at (800) 946-9185 or on the web at http://www.cnspharma.com.

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