CNS Pharmaceuticals (CNSP) has filed a preliminary prospectus for a 2.125M-share IPO at $4 -5 per share, valuing the offering at $9.6M from the midpoint.
The Houston, TX-based preclinical-stage pharma company develops drugs to treat primary and metastatic brain and central nervous system (CNS) tumors based on intellectual property in-licensed from Houston Pharmaceuticals and owned pursuant to an agreement with Reata Pharmaceuticals (NASDAQ:RETA).
Lead candidate is anthracycline chemo agent Berubicin, in development for glioblastoma since it is capable of crossing the blood-brain barrier.
2019 Financials (Q1): Operating Expenses: $211.5K (-31.7%); Net Loss: ($211.5K) (+31.7%); Cash Burn: ($82.7K) (+68.0%).
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