CNS Pharmaceuticals raises $22.5 million in private placement

CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) announced it has entered into securities purchase agreements for a private placement financing expected to generate gross proceeds of approximately $22.5 million before fees and expenses.

The Houston-based biotechnology company said the private placement includes participation from institutional healthcare investors ADAR1 Capital, Ikarian Capital, Stonepine Capital Management and Nazare Partners.

Under the terms of the agreements, CNS is selling 650,000 shares of common stock at $2.30 per share and pre-funded warrants to purchase 9,143,479 shares at $2.299 per warrant. The pre-funded warrants carry an exercise price of $0.001 per share. The transaction is expected to close on or about May 5, 2026, subject to customary closing conditions.

CNS stated it intends to use the net proceeds, along with existing cash, to identify, acquire and advance assets with development and regulatory pathways that have inflection catalysts and potential for near-term value creation. The funds will also support working capital and general corporate purposes, aligning with the company's corporate strategy announced March 11, 2026.

"We are grateful for the strong support from leading healthcare investors in this oversubscribed financing," said Rami Levin, President and Chief Executive Officer of CNS Pharmaceuticals.

The company indicated it is in discussions to out-license its glioblastoma multiforme programs, Berubicin and TPI-287, to focus resources on an acquisition-driven pipeline.

A.G.P./Alliance Global Partners served as the sole placement agent for the transaction. CNS plans to file a registration statement with the Securities and Exchange Commission for the resale of securities issued in the private placement.

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