CNS Pharmaceuticals announces 1-for-12 reverse stock split

HOUSTON - CNS Pharmaceuticals, Inc. (NASDAQ:CNSP), currently trading at $0.90 and down 85% year-to-date, announced Friday a 1-for-12 reverse split of its common stock, effective July 22, 2025, when the company’s shares will continue trading on the Nasdaq Capital Market under the same symbol but with a new CUSIP number.

The reverse split will automatically combine every 12 shares of common stock into one share. The company will make cash payments to stockholders in lieu of any fractional shares that would result from the split.

As part of the restructuring, CNS Pharmaceuticals will maintain its $0.001 per share par value while reducing its authorized shares to 25 million. The company noted that the split will affect all stockholders uniformly and will not alter any stockholder’s percentage interest in the company’s equity, except where fractional shares are involved.

Outstanding warrants, equity-based awards and other equity rights will be proportionately adjusted by dividing the underlying shares by 12 and multiplying the exercise or conversion prices by 12.

CNS Pharmaceuticals is a clinical-stage pharmaceutical company developing treatments for primary and metastatic cancers of the brain and central nervous system. Its lead drug candidate, TPI 287, is an abeotaxane that has been tested in over 350 patients across various cancer indications.

The announcement was made in a company press release.

In other recent news, CNS Pharmaceuticals has announced the pricing of a $5 million public stock offering. The company plans to sell approximately 4 million shares at $1.265 each and issue Series F Warrants for an additional 4 million shares at an exercise price of $1.14. The proceeds from this offering are intended for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as the sole placement agent for this transaction, which is expected to close in May 2025. Additionally, CNS Pharmaceuticals has secured Orphan Drug Designation from the FDA for its investigational drug TPI 287, aimed at treating gliomas, pediatric neuroblastoma, and progressive supranuclear palsy. This designation could provide up to seven years of market exclusivity post-approval. The drug has shown promising clinical results, including complete and partial responses in trials. CNS Pharmaceuticals plans to begin a Phase 2 study of TPI 287 by the end of 2025.

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