CNSP - InvestorNewsBreaks - CNS Pharmaceuticals Inc. (NASDAQ: CNSP) Releases Q3 2022 Financial Numbers Corporate Update
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 its Q3 2022 financial report; the company also provided an update regarding its anticancer drug candidates. The report noted that significant progress has been made in CNSP’s key trial designed to study Berubicin’s efficacy in the treatment of recurrent glioblastoma multiforme (“GBM”); that progress includes multiple clinical trial sites being approved for enrollment along with 29 of 68 clinical sites in the United States and Europe already enrolling patients. The company anticipates an interim analysis will be conducted in the middle of next year. Financial results for the quarter included net loss for the three months ended Sept. 30, 2022, of approximately $3.4 million compared to an estimated $3.8 million for the same quarter in 2021. Research and development expenses for the quarter totaled $2.2 million with general and administrative expense reaching approximately $1.2 million. At quarter end, CNSP reported cash on hand totaling some $7 million and working capital of approximately $7.5 million. “In the past quarter, we successfully expanded our potentially pivotal Berubicin trial into Europe with a number of clinical sites initiated and most recently the initiation of patient enrollment and dosing in France,” said CNS Pharmaceuticals CEO John Climaco in the press release. “This expansion into Europe drives us toward our goal of interim analysis, expected in mid-2023, which we believe has the potential to be transformational milestone. Moving forward, we are focused on building momentum and advancing this important program across the finish line.”
To view the full press release, visit https://ibn.fm/EagH5
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
NOTE TO INVESTORS: The latest news and updates relating to CNSP are available in the company’s newsroom at https://ibn.fm/CNSP
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