Full Press Release Details
CNS Pharmaceuticals Announces Reverse Stock
HOUSTON, TX (June 3, 2024) - 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 a 1-for-50 reverse split
of its common stock, effective at 4:01 PM ET on June 4, 2024. Beginning on June 5, 2024, the Company's common stock will continue
to trade on The Nasdaq Capital Market ("Nasdaq") on a split adjusted basis under the trading symbol "CNSP", but
will trade under the following new CUSIP number: 18978H300. The reverse stock split is primarily intended to increase the Company's
per share trading price and bring the Company into compliance with the Nasdaq's listing requirement regarding minimum share price.
As a result of the reverse stock split, every
50 shares of common stock issued and outstanding as of the effective date will be automatically combined into one share of common stock.
Outstanding warrants, equity-based awards and other outstanding equity rights will be proportionately adjusted by dividing the shares
of common stock underlying the securities by 50 and multiplying the exercise/conversion price, as the case may be, by 50. No fractional
shares will be issued as a result of the reverse stock split. Stockholders of record who would otherwise be entitled to receive a fractional
share will be entitled to the rounding up of the fractional share to the nearest whole number. The par value of the common stock will
remain unchanged at $0.001 per share after the reverse split, and the number of authorized shares of common stock will remain at 300 million
shares. The reverse split affects all stockholders uniformly and will not alter any stockholder's percentage interest in the Company's
equity, except to the extent that the reverse split results in some stockholders owning a fractional share as described above.
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 and completion of the reverse split. 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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