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CNS Pharmaceuticals Announces Closing Of Initial Public Offering of Common Stock
Source: PR Newswire (US)
HOUSTON, Nov. 13, 2019 /PRNewswire/ -- CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) ("Company"), a pre-clinical stage biotechnology company specializing in the development of novel treatments for brain tumors, today announced the closing of its initial public offering of 2,125,000 shares of common stock at an initial public offering price of $4.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, were $8.5 million. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 318,750 shares of common stock at the initial price to the public less underwriting discounts and commissions. The Company's common stock is listed on the NASDAQ Capital Market under the symbol CNSP.
The Benchmark Company, LLC acted as sole Book Running Manager for the offering.
A 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 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.
This 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.
About Berubicin
Berubicin 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.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is a pre-clinical stage 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 lymphonas. 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
The Ruth Group
646-536-7000
jsalierno@theruthgroup.com
kbrosco@theruthgroup.com
Media Contact
Kirsten Thomas
The Ruth Group
(508) 280-6592
kthomas@theruthgroup.com
? View original content:http://www.prnewswire.com/news-releases/cns-pharmaceuticals-announces-closing-of-initial-public-offering-of-common-stock-300957850.html
SOURCE CNS Pharmaceuticals, Inc.
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Copyright 2019 PR Newswire
Wow look at all the action today. It's gonna be a nice green day.
Welcome all. This is a new IPO that was launched on Friday. It gained 17% on it's first day and has a pull back on Veterans day. I belive there is big potential here. Check things out. I believe it is a good buy right now.
Wow this seems to have hit rock bottom very quickly. I would expect a huge bounce within the next day or week.
100,006 shares traded about $20. They probably lost more on trade fees.
Wow they deleted all the tweets. Seems suspicious like BBDA is a fake company with no products and a felon CEO who liquidated all assets and skipped the country. Oh wait all of that is true.
Looks like this is headed back to no bid. Fake company with no operations and no products. Just an empty shell game.
The news was fake. It has nothing to do with BBDA. Just have a look at the truth in this article. https://www.otcmarkets.com/stock/BBDA/news/SEC-Litigation-Release?id=208961
Don't want to crush any dreams but this company is essentially out of business and the CEO left the country after fraud charges. I would stay away. There are many people stuck with worthless shares here.
I just noticed the action today after being stuck for 5 years with this junk. My holdings are now worth 9 cents total. It is so bad TD Ameritrade says I owe them 33.70 not sure how that is possible. I kept this so long my stock broker Scott Trade sold my stock to a new company because my holdings sucked so bad. I guess I can never sell this.
I'm expecting another red day tomorrow but it can't last much longer.
I think it will be red for tomorrow also. The shorters are having fun with this. By Friday you may see it back green again.
I would hold on buying for a bit till it levels out
I missed my buy opportunity yesterday because I had to go to my real job. If I would have paid attention to this I could have nearly doubled my money already. I like the way things are looking here. I would expect a small pullback but most likely not seeing red today with all the support here.
Got any predictions for tomorrow? I'm guessing a spike at open then a pull back to around 19.
I will watch this for about 3 days then decide if it will drop back down under 20 again. I think it will but I do think this has a real opportunity to double, triple or even better.
I just didn't expect things to shoot up so fast. Things are leveling out now. I had a chance to buy at 16.30 but I thought it might drop and it didn't. Oh well. I will wait now. Not going to buy it at the high.
I tried to buy at $14 and there was not chance. It went up way too fast. Right now it just peaked at $22. It may dip down again.
Has anyone noticed this stock today. It lost about 7% in one day since its IPO last week. It could have a big chance to rebound.
Etrade still won't even let me sell my shares. They say the stock is restricted.
Somebody bought 500k of shares today. I wonder if it was an accident.
I am thinking about buying here. I just expect a dip into red for a moment then a bounce near close today. I just see some panic selling here now.
Getting closer to the IPO price
Square target set at $15 not bad
Green today again!
Typical trading patterns so far. High in the morning lower in the afternoon.
Bought some wine today with an ipad Square pos system. Told the guy I bought at ipo. Glad to support the cause.
Finally! Have a great weekend!
Red or green tomorrow? I guess we wait and see. Could be ready for a run up. Did you notice how Starbucks Seattle bought 10% of shares?
They have faith in the company.
Big week coming up. Time to prove SQ is worth more
I look forward to 14+ tomorrow
Just joined here today. Love the action.
Things are looking good today. Record earnings. Sounds great
http://www.marketwatch.com/story/astronics-corporation-reports-record-third-quarter-results-2015-11-10
ATRO looking good today
Just had record earnings
http://www.marketwatch.com/story/astronics-corporation-reports-record-third-quarter-results-2015-11-10
Looks like we're going for a nice run today...
Groupon is doing 5 for 10 on Starbucks today. Their best deal of the season.
Somebody wasted a trade fee to buy 1 share. Wow.
I expect it to rebound up to $4 at least
I like the way things went. Bought in at 2.78
I think 2.78 could be bottom here. It's holding nicely.