CNS PHARMAC. INC. DL-,001

CNS Pharmaceuticals secures about $22.5 million by selling 650,000 common shares and pre-funded warrants for 9,143,479 shares to institutional investors. The proceeds are intended for the acquisition and further development of assets with clear regulatory pathways, as well as for working capital and general corporate purposes. The transaction, with A.G.P. acting as placement agent, is expected to close on Tuesday; the company is also exploring out-licensing of its glioblastoma programs to focus the pipeline on acquisitions. » More on de.investing.com

CNS Pharmaceuticals has decided on a strategic realignment and will in future concentrate on acquiring or licensing preclinical and clinical assets in neurology and oncology, abandoning its previous focus on glioblastoma. The decision follows an externally supported strategic review with risk‑adjusted analyses and assessments of regulatory pathways. The move comes against the backdrop of strained finances, a sharply fallen share price and rapid cash burn; the company is also examining the out‑licensing of TPI 287 and Berubicin. No timetable for acquisitions or licensing deals was announced. » More on de.investing.com

CNS Pharmaceuticals has named Dr. Lynne Kelley, FACS, as chief medical officer. Kelley has more than 20 years of experience in clinical development, translational medicine and regulatory strategy in oncology, rare diseases and CNS disorders, and has led programs in phases 1–3 as well as approval processes in the US, Europe, China and Japan. The appointment comes as the company faces significant financial difficulties: market capitalization is about $1.93 million and the stock is trading near its 52-week low. » More on de.investing.com