Full Press Release Details
CNS Announces Nasdaq Trading
Halt Pending Receipt of Additional Information
18 2020 /PRNewswire/ -- CNS Pharmaceuticals, Inc., (Nasdaq: CNSP) ("CNS" or the "Company"), a biopharmaceutical
company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous
system, today announced that pending the receipt of additional information from the Company,
Nasdaq has halted the trading in the Company's common stock. The Company is actively working with the staff of Nasdaq to
provide it with all requested information, and hopes to begin trading as soon as possible.
The May 1st, 2020 temporary
suspension by the Securities and Exchange Commission in the trading of CNS securities expired at 11:59 p.m. ET on May 15th, 2020.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is developing novel
treatments for primary and metastatic cancers of the brain and central nervous system. Its lead drug candidate, Berubicin, is proposed
for the treatment of GBM, an aggressive and incurable form of brain cancer. CNS holds a worldwide exclusive license to the Berubicin
chemical compound and has acquired all data and know-how from Reata Pharmaceuticals related to a completed Phase 1 trial with Berubicin
in GBM which Reata conducted in 2006. In this trial, 44% of patients experienced a statistically significant improvement in progression-free
survival. This 44% disease control rate was based on 11 patients (out of 25 evaluable patients) with stable disease, plus responders.
One patient experienced a durable complete response and remains cancer-free as of February 20, 2020. In the second half of 2020,
CNS expects to commence a Phase 2 clinical trial of Berubicin for the treatment of GBM in the U.S., while a sub-licensee partner
undertakes a Phase 2 trial in adults and a first-ever Phase 1 trial in pediatric GBM patients in Poland. Its second drug
candidate, WP1244, is a novel DNA binding agent that has been shown in preclinical studies to be 500-times more potent than the
chemotherapeutic agent daunorubicin in inhibiting tumor cell proliferation. For more information, please visit www.cnspharma.com.
Forward-Looking Statements
Some of the statements in this release
are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking
statements include, without limitation, when the Nasdaq trading halt will be lifted. These statements relate to future events,
future expectations, plans and prospects. Although CNS believes that the expectations reflected in such forward-looking statements
are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied
by such forward-looking statements. CNS has attempted to identify forward-looking statements by terminology including ''believes,''
''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,''
''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking
statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, including
those discussed under in our SEC filings, including under Item 1A. "Risk Factors" in our most recently filed Form 10-K
filed with the Securities and Exchange Commission ("SEC") and updated from time to time in our Form 10-Q filings and
in our other public filings with the SEC. Any forward-looking statements contained in this release speak only as of its date. CNS
undertakes no obligation to update any forward-looking statements contained in this release to reflect events or circumstances
occurring after its date or to reflect the occurrence of unanticipated events.
Investor Relations Contact
James Salierno / Kait Brosco