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 released its first quarter 2022 financial report along with key updates on company strategies. The report pointed to recent approvals of a potentially pivotal Berubicin study in Europe that is expected to significantly drive patient enrollment and opportunities for Berubicin to be used in additional oncology indications with significant unmet needs and also noted that CNSP was granted fast track designation for Berubicin from the FDA, which provides more frequent interactions with the agency to expedite the development and review process; the company had already received orphan drug designation for the novel anthracycline. Financial numbers for the period ended March 31, 2022, include a net loss of an estimated $2.8 million compared to approximately $3.6 million for the comparable period in 2021; R&D expenses of $1.5 million for Q1, down from approximately $2.2 million for the same period in 2021; and general and administrative expenses totaling some $1.3 million for the first quarter, remaining fairly constant when compared to $1.4 million for Q1 2021. “Since the start of 2022, we have significantly expanded our international presence with clinical approvals in Spain, France and Switzerland received for our potentially pivotal study of Berubicin for the treatment of GBM,” said CNS Pharmaceuticals CEO John Climaco said in the press release. “Once again, our team demonstrated its operational, clinical and regulatory expertise this quarter. These efforts enable us to continue building momentum with patient enrollment — the cornerstone of any successful drug development program. The unmet need in GBM is enormous and knows no geographic borders, and this critically important and state of the art trial will, most importantly, advance a much-needed potential treatment option to patients. We have been and remain laser focused on executing on all of our operational efforts and look forward to an exciting year ahead.”
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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. Additionally, CNS Pharmaceuticals is advancing the development of its WP1244 drug technology portfolio, which utilizes anthracycline and distamycin-based scaffolds to create small molecule agents and is believed to be 500 times more potent than daunorubicin in inhibiting tumor cell proliferation. Preclinical studies of WP1244 demonstrated high uptake in the brain with antitumor activity. CNS Pharmaceuticals is evaluating the use of WP1244 in the treatment of brain, pancreatic and ovarian cancers as well as lymphomas. 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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