Full Press Release Details
Pharmaceuticals Announces Full Exercise of Over-Allotment Option
TX November 21, 2019 - CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) ("Company"), a biotechnology company specializing
in the development of novel treatments for brain tumors, today announced the closing of the issuance of an additional 318,750 shares
of its common stock pursuant to the exercise in full of the underwriters' over-allotment option in connection with its initial
public offering (the "IPO"). The additional shares were sold at the IPO price of $4.00 per share, before underwriting
discounts and commissions.
gross proceeds from the sale of the additional shares, before deducting underwriting discounts and commissions, was $1.3 million,
bringing the total gross proceeds from the IPO to $9.8 million. The Company's shares of common stock trade on the NASDAQ
Capital Market under the ticker symbol "CNSP."
Benchmark Company, LLC acted as sole Book Running Manager for the offering.
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, when available, 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.
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.
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.
CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a 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 lymphomas. 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