CNS Pharmaceuticals (NASDAQ:CNSP)
Biotechnology companies are frequently on a list of penny stocks. The simple reason is that many of these companies are a moonshot. If they are able to bring a drug to market, the stock could soar. If they don’t, the company will generally have to keep reissuing shares to stay afloat.
Investors saw this play out during the race for a Covid-19 vaccine and therapeutic treatments. There were many companies whose stocks went up when they announced it had a candidate, but many of those companies have long been forgotten.
This brings me to CNS Pharmaceuticals (NASDAQ:CNSP). The company is developing therapeutic treatments for brain cancer. Its lead candidate, Berubicin, which is used to treat glioblastoma multiforme has advanced out of Phase 1 trials. The company has a worldwide exclusive license on Berubicin.
The risk is that the drug will not fare well in advanced trials. However, the stock is up nearly 100% in 2021 as biotech investors are shifting their attention away from the novel coronavirus.
About CNS Pharmaceuticals
CNS Pharmaceuticals, Inc, a biopharmaceutical company, engages in the development of anti-cancer drug candidates for primary and metastatic cancers of the brain and central nervous system. The company's lead drug candidate is Berubicin, which completed Phase I clinical trial that is used for the treatment of glioblastoma multiforme. READ MORE
Current Price: $2.35
Consensus Rating: Buy
Ratings Breakdown: 1 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $10.50 (346.8% Upside)
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