CNS Pharmaceuticals, Inc. (CNSP) is a leading innovative clinical-stage biotechnology company. It is engaged in the development of anti-cancer product candidates for their therapeutic potential against primary and metastatic brain and central nervous system tumors. One of the lead product candidates of the company in Phase 1 clinical trials is Berubicin. It is developed for the treatment of glioblastoma multiforme (GBM), an aggressive and incurable form of brain cancer. The company is also assessing the use of WP1244 for curing pancreatic, ovarian cancers and lymphomas.
The price of CNSP stock during the regular trading on December 31, 2021, was $0.70 with a decline of 7.49%. At last check in the aftermarket, the stock price surged significantly by 12.47%.
CNSP: Events and Happenings
On December 2, 2021, CNSP reported about the receipt of nod from swissethics for the pivotal clinical study of Berubicin. Swissethics is the umbrella organization of the cantonal Ethics Committees of Switzerland.
CNSP: CEO Comments
While commenting on the occasion, CNSP’s CEO John Climaco said that increasing the rate of patient enrollment and opening further clinical sites globally is the fundamental piece that allowed the company to upgrade its efforts and move at a faster pace towards the outcomes.
On November 16, 2021, CNSP reported the company executives presented at the Roundtable Investor Conference held virtually on November 18.
CNSP: Key Financials
On November 12, 2021, CNSP announced its financial results for the third quarter ended September 30, 2021. Some of the main highlights are as follows
Total Current Assets
Total current assets reported by the company for the third quarter of 2021 were $11.15 million as compared to the same period of 2020 when the assets were $2.5 million.
Net Loss per Share
Basic and diluted net loss per share for third-quarter 2021 was $3.81 million or $0.14 per share as compared to the same period of 2020 when it was $2.01 million or $0.12 per share.
On October 11, 2021, CNSP reported that it had been included in a broadcast through NetworkNewsAudio. The press release covered the company’s announcement of initial patient dosing for Berubicin’s clinical development platform. On September 30, 2021, CNSP reported about initial patients dosing beginning the clinical trials for Berubicin. Additional enrollment of patients, randomization, and dosing along with several clinical sites were advanced toward initiation and enrollment.
CNSP stock is 29% down the past month due to the loss of interest by the investors. The current aftermarket rise in the stock price is due to uncertainty in the market which resulted in the placement of trust by the investors in the company’s policies. The analysts are predicting that through its series of pipeline projects, the company will be able to attract potential investments.