Oversubscribed $22.5 million financing anticipated to enable CNS Pharmaceuticals to acquire differentiated, clinical-stage assets with identifiable near-term value-inflection catalysts, aligned with its recently announced corporate strategy
Company actively evaluating multiple acquisition opportunities while advancing discussions to out-license its legacy glioblastoma multiforme programs, Berubicin and TPI-287
New executive leadership team assembled in the first quarter continues to demonstrate rapid execution against strategy
HOUSTON, TX / ACCESS Newswire / May 14, 2026 / CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) (“CNS” or the “Company”), a biotechnology company focused on building a pipeline of innovative therapies addressing significant unmet medical needs, today reported financial results for the first quarter ended March 31, 2026, and provided a corporate update highlighting the Company’s ongoing strategic transformation and execution progress.
The first quarter of 2026 marked the beginning of a significant strategic shift for CNS Pharmaceuticals, including the appointment of a new Chief Executive Officer and executive leadership team, the launch of a new corporate strategy, the repositioning of the Company toward an acquisition-driven growth strategy focused on differentiated clinical-stage assets in neurology and oncology and the decision to seek out-licensing opportunities for its legacy glioblastoma multiforme programs, Berubicin and TPI-287.
Subsequent to quarter end, CNS Pharmaceuticals completed a $22.5 million private placement with participation from several leading institutional healthcare investors. The proceeds from the private placement, together with existing cash, are intended to enable CNS Pharmaceuticals to identify, acquire, and advance differentiated assets with clear development and regulatory pathways that have clear inflection catalysts and the potential for near-term value creation.
“We believe CNS Pharmaceuticals has entered a transformational new phase defined by strategic clarity, financial strength and disciplined execution,” said Rami Levin, President and Chief Executive Officer of CNS Pharmaceuticals. “Over the past several months, we have rebuilt the foundation of the Company by assemblinga highly experienced executive team, completed a rigorous strategic review, strengthened our balance sheet through an oversubscribed financing, initiated an aggressive search for differentiated clinical-stage assets capable of generating meaningful near-term catalysts and long-term shareholder value, and advanced discussions to out-license our legacy glioblastoma multiforme programs, Berubicin and TPI-287.”
Mr. Levin continued, “The current biotechnology environment continues to create compelling acquisition opportunities, particularly for companies with capital, operational experience and strategic focus. We believe CNS Pharmaceuticals is now positioned to capitalize on this environment as we rapidly work to build and diversify our pipeline with high-value programs that have clear development pathways and the potential to drive substantial value creation.”
Summary of Financial Results for the First Quarter 2026
General and administrative expense was approximately $1,431,000 for the three months ended March 31, 2026 compared to approximately $1,095,000 for the comparable period in 2025. The increase in general and administrative expense was primarily attributable to increased professional expenses related to the Company’s strategic review that was conducted in collaboration with a leading life science focused advisory firm and placement services related to the Company’s new executive leadership team.
Research and development expense was approximately $3,544,000 for the three months ended March 31, 2026 compared to approximately $3,243,000 for the comparable period in 2025. The change in research and development expense during the period is primarily attributable to an increase in placement services and headcount expense.
The net loss for the three months ended March 31, 2026 was approximately $4,936,000 compared to approximately $4,301,000 for the comparable period in 2025. The change in net loss is primarily attributable to increased research and development costs and an increase in professional expenses.
Cash and cash equivalents were $2,951,000 as of March 31, 2026. The cash balance on March 31, 2026 does not account for the gross proceeds from the $22.5 million private placement closed on May 5, 2026. The Company expects these proceeds, together with existing cash resources, to fund operations beyond twelve months.
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals is a biotechnology company focused on developing innovative therapies for serious diseases. With an experienced executive team and a focus on high-value therapeutic opportunities, the Company is working to build a differentiated portfolio of assets addressing significant unmet medical needs. CNS is committed to advancing novel treatments that have the potential to improve patient outcomes while creating long-term value for patients and shareholders.
For more information, please visit www.CNSPharma.com, and connect with the Company on X 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 release include, without limitation, statements regarding the expected gross proceeds and closing of the private placement, the Company’s intended use of proceeds from the private placement together with existing cash, the Company’s pipeline prioritization and strategic development, the anticipated contributions of the new management team to the Company’s growth, expectations regarding clinical development and regulatory strategy, the Company’s ability to deliver meaningful value to patients and shareholders, and the Company’s plans to explore out-licensing or strategic sales of legacy assets. 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 market and other conditions and those discussed under Item 1A. “Risk Factors” in CNS’s most recently filed Form 10-K filed with the 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, except as required by law.
CONTACTS:
Investor Relations Contact
JTC Team, LLC
Jenene Thomas
908.824.0775
CNSP@jtcir.com
Business Development Contact
CNS Pharmaceuticals, Inc.
Dylan Wenke, Chief Business Officer
dwenke@cnspharma.com
SOURCE: CNS Pharmaceuticals, Inc.
View the original press release on ACCESS Newswire
Media gallery
.png){kind=logo}
