CNS Pharmaceuticals Announces Pricing of Registered Direct Offering and Concurrent Private Placement HOUSTON

CNS Pharmaceuticals Announces Pricing of Registered

Direct Offering and Concurrent Private Placement

HOUSTON, June 26, 2024 /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 in the brain and central nervous system, today announced it has

entered into securities purchase agreements with health-care focused institutional investors for the purchase and sale of 568,000 shares

of common stock in a registered direct offering and warrants to purchase up to 568,000 shares of common stock in a concurrent private

placement (together with the registered direct offering, the "Offering") at a combined purchase price of $2.45 per share. The

warrants issued pursuant to the concurrent private placement will have an exercise price of $2.32 per share, will be exercisable immediately

following the date of issuance and will expire 5 years from the initial exercise date.

The closing of the Offering

is expected to occur on or about June 27, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds from the

Offering are expected to be approximately $1.39 million before deducting financial advisory fees and other offering expenses payable by

the Company. The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.

The common stock will be

issued in a registered direct offering pursuant to an effective shelf registration statement on Form S-3 (File No. 333-279285) previously

filed with the U.S. Securities and Exchange Commission (the "SEC"), under the Securities Act of 1933, as amended (the "Securities

Act"), and declared effective by the SEC on May 17, 2024. The warrants will be issued in a concurrent private placement. A prospectus

supplement describing the terms of the proposed registered direct offering will be filed with the SEC and once filed, will be available

on the SEC's website located at http://www.sec.gov.

The private placement of

the ordinary warrants and the underlying shares will be made in reliance on an exemption from registration under Section 4(a)(2) of the

Securities Act and/or Regulation D thereunder. Accordingly, the securities issued in the concurrent private placement may not be offered

or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements

of the Securities Act and such applicable state securities laws.

This press release shall

not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any

sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the

registration or qualification under the securities laws of any such state or other jurisdiction.

About CNS Pharmaceuticals, Inc.

CNS Pharmaceuticals a clinical-stage pharmaceutical

company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central

nervous system. The Company's lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross

the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications

including glioblastoma multiforme (GBM), an aggressive and incurable form of brain cancer.

For more information, please visit www.CNSPharma.com,

and connect with the Company on Twitter, Facebook, and LinkedIn.

Forward-Looking Statements

Some of the statements in this press 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 in this press release

include, without limitation, the timing for closing of the Offering and the expected use of proceeds from the Offering. These statements

relate to future events, future expectations, plans and prospects. Although CNS believes 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 Item 1A. "Risk Factors" in CNS's most recently filed Form 10-K filed with the Securities and Exchange Commission ("SEC")

and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained

in this press release speak only as of its date. CNS undertakes no obligation to update any forward-looking statements contained in this

press release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.

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