STOCKS TELEGRAPH

Tag: CNS Pharmaceuticals

  • CNS Pharmaceuticals Inc. (CNSP) stock Plunges After Hours Following FY2021 Results

    On March 03, CNS Pharmaceuticals Inc. (CNSP) announced its financial results for Q4 and fiscal 2021 along with corporate updates. In the following after-hours session, the stock plunged down while it added 10.14% during regular trading.

    At a volume of 11 million shares, the stock fluctuated between a high of $0.3725 and a low of $0.3100 in the regular session. CNSP closed the session in the green at $0.3650, adding $0.0336 or 10.14%. The session’s volume remained 945% of its average 1.16 million shares. Following the gain, the stock suffered a loss of 6.88% in the after-hours session. Thus, CNSP was trading at $0.3399 apiece at an after-hours volume of 3.7 million on Thursday.

    The pre-clinical stage pharmaceutical company, CNS Pharmaceuticals Inc. has a market capitalization of $9.25 million. Currently, the company has 27.92 million shares outstanding in the market. In the past five days, the stock has increased by 14.78% while losing 48.04% year to date. Moreover, CNSP lost a value of 83.78% last year.

    CNSP’s 2021 Financials

    The company incurred a net loss of $14.0 million in fiscal 2021, against $9.5 million in the previous year.

    Furthermore, the R&D expenses were $9.3 million in fiscal 2021, while the same was $5.1 million in fiscal 2020.

    CNSP reported G&A expenses of $4.7 million in 2021 against that of $4.4 million in the previous year.

    Finally, the company ended the year with cash of $5.0 million and $5.3 million on working capital, on December 31, 2021.

    Corporate Updates

    Some of the key highlights of 2021 include:

    • In May 2021, the company initiated enrollment of patients in the CNS-201 study for Berubicin in recurrent Glioblastoma Multiforme.
    • In June 2021, Berubicin was granted Fast Track Designation for rGBM.
    • In September 2021, the dosage of patients started in the CNS-201 study.
    • In December 2021, approval from “swissethics” was received for Berubicin rGBM study in Switzerland.
    • CNSP’s Recent Participation
    Source: Pharmaphorum

    In January, the company participated in the Virtual Investor 2022 Top Picks Conference. CNSP’s CEO, John Climaco participated in the conference on Wednesday, January 26, 2022.

    Private Placement

    On January 06, the company announced an at-the-market private placement of 12,105,264 common stock shares and warrants. Further, the purchase price of each share and the associated warrant was $0.95 with gross proceeds of $11.5 million approximately.

    Thus, with an exercise price of $0.82 per share, the warrants were exercisable immediately upon issuance.

    Therefore, on January 10, CNSP announced the closing of the private placement for gross proceeds of $11.5 million.

  • CNS Pharmaceuticals Inc. (CNSP) stock Rebounds in the After Hours

    CNS Pharmaceuticals Inc. (CNSP) stock rebounded in the after-hours on Friday, to add 12.47% at $0.79. Hence, the stock entered the new year in the green, while it had been trading in the red for some time now.

    During the regular session, the stock saw a decline of 7.49% at its close of $0.7024 on Friday. The stock rebounded in the after-hours to recover more than it lost during the regular session. Consequently, CNSP was trading at $0.7900 apiece at a volume of 42.63K shares in the after hours.

    In the past five days, the stock has lost 19.01% and over 29.4% last month. Moreover, the stock has subtracted a value of 52.54% in the past three months and 60.54% in 2021.

    Currently, the 27.92 million outstanding shares of the biopharmaceutical company trade at a market capitalization of $19.61 million.

    CNSP’s Approval from Switzerland Ethics Committee

    On December 02, the company announced approval from swissethics for its pivotal study of Berubicin. Swissethics is the umbrella organization of the cantonal Ethics Committees (EC) in Switzerland. Moreover, approval was received for the study of the product in treating recurrent glioblastoma multiforme (GBM). GBM is one of the most aggressive forms of brain cancer.

    The trial will be an adaptive, multicenter, open-label, randomized, and controlled study in GBM patients after standard first-line therapy failure. Moreover, the primary endpoint of the study is Overall Survival.

    In addition, CNSP hopes to expand the pivotal study to more sites throughout the world.

    Berubicin

    Berubicin is an anthracycline, which is one of the most effective chemotherapy drugs. Recently, Berubicin was granted Fast Track Designation by the FDA. Moreover, it has also received Orphan Drug Designation from the FDA, allowing for up to seven years of marketing exclusivity to CNSP, upon NDA approval.

    Recent Participation

    As per November 16’s announcement, the company recently participated in the Virtual Investor Roundtable Event. CNSP’s CEO, John Climaco, and CMO, Sandra L. Silberman participated in the event which took place on November 18, 2021.

    CNSP’s Financials

    The company declared its financial results for the first half of 2021 on August 13, 2021.

    In the first half of 2021, CNSP incurred a net loss of $3.8 million, against $2.4 million in the year-ago period.

    Moreover, the company ended the first half of 2021, with cash and subscription receivable (fully collected on July 1) of $10.5 million. Furthermore, the working capital at the end of the period was $12.1 million approx.

  • Why CNS Pharmaceuticals, Inc. (CNSP) stock is Climbing in Pre-Market today?

    Why CNS Pharmaceuticals, Inc. (CNSP) stock is Climbing in Pre-Market today?

    Shares of the CNS Pharmaceuticals, Inc. (CNSP) stock were climbing in the Pre-market today on June 18, 2021, following the announcement made by CNS pharmaceuticals yesterday that it has been selected to be included in Russell 2000® Index. The CNSP stock price saw a push of 4.00% to reach $2.08 a share at the time of this writing. CNSP stock climbed 3.09% at the previous closing. Let’s take a closer look at current happenings.

    What’s Happening?

    CNS Pharmaceuticals, Inc, founded in 2017, develops the anticancer drugs that are used to treat brain and central nervous system tumors. CNSP addition in Russell 2000® Index would be effective from after closing of U.S. equity markets on June 25, 2021. This inclusion would help the CNSP stock to drive market awareness for its clinical program in the fight against glioblastoma multiforme (GBM) disease.

    The Russell 2000® Index is the subset of the Russell 3000® Index in which  2,000 smallest securities based on current index membership and market cap combination are added. It evaluates the performance of these smallest securities and constitutes  10% of the total market capitalization of its parent index.

    Patient Enrollment:

    Back to the previous month on May 19, 2021, CNSP stock did announce the commencing of patient enrollment in its potential pivotal study that was intended to evaluate the efficacy as well as safety of Berubicin when it is used to treat adult recurrent Glioblastoma Multiforme (GBM). The CNS pharmaceuticals planned 210 patients in its 35 clinical sites in the United States and also expressed the wish to extend the trial in Western Europe. The primary endpoint for the study was overall survival.

    Financial View of CNSP stock:

    On May 14, 2021, CNSP stock released its first-quarter 2021 financial results according to which a $3.6 million net loss was reported higher than $2.0 million in the same quarter of the previous year. Research and development expenses increased by $1.6 million in the recently reported quarter to reach $2.2 million as compared to the same prior-year period. The quarter ended with $11.0 million cash and cash equivalents which according to CNSP stock’s management is enough to fund operation during the current year.

    Conclusion:

    The CNSP stock is continuing the rising momentum after the announcement of its selection in the Russell 2000® Index. The stock is growing with time and has enough cash to fund its operations for next year. Hence investors need to keep this stock on their books.