CNS Pharmaceuticals (NASDAQ: CNSP), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, has announced a 1-for-30 reverse split of its common stock. According to the announcement, the split was effective at 4:01 p.m. ET on Nov. 28, 2022. Starting today, CNSP common stock will trade on the Nasdaq Capital Market on a split-adjusted basis a new CUSIP number: 18978H201. Approved by company stockholders earlier this year, the reverse stock split is meant to increase the CNSP’s per share trading price and bring the company into compliance with the NASDAQ’s minimum share price listing requirement. The company noted that “the reverse split affects all stockholders uniformly and will not alter any stockholder’s percentage interest in the company’s equity, except to the extent that the reverse split results in some stockholders owning a fractional share.”
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About CNS Pharmaceuticals Inc.
CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. The company’s lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including glioblastoma multiforme, an aggressive and incurable form of brain cancer. For more information about the company, please visit www.CNSPharma.com
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