CNS Pharmaceuticals to Implement Reverse Stock Split on June 4, 2024

June 3, 2024 / CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) (referred to as "CNS" or the "Company"), a firm dedicated to creating innovative treatments for primary and metastatic brain and central nervous system cancers, has publicized a reverse stock split of 1-for-50 for its common stock. This action will take effect at 4:01 PM ET on June 4, 2024. From June 5, 2024, the adjusted shares will continue to be traded on The Nasdaq Capital Market under the symbol "CNSP" and a new CUSIP number: 18978H300. The primary goal of this reverse stock split is to elevate the Company's trading price per share, ensuring adherence to Nasdaq's minimum share price listing criteria.

This reverse stock split will see every 50 existing shares of common stock automatically consolidated into a single share. To align with this adjustment, any outstanding warrants, equity-based awards, and other equity rights will be revised—dividing the underlying shares by 50 and adjusting the exercise or conversion price by multiplying by 50. No fractional shares will be distributed due to this reverse split; instead, shareholders entitled to a fraction will receive a rounded-up whole share. Despite these changes, the par value of the common stock remains stable at $0.001 per share, and the total authorized shares stay fixed at 300 million. This adjustment applies uniformly across all shareholders without altering any individual's percentage ownership in the Company's equity, except in instances of rounding up fractional shares.

CNS Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company advancing a portfolio of anti-cancer drugs aimed at treating primary and metastatic cancers in the brain and central nervous system. Their flagship drug candidate, Berubicin, is a unique anthracycline, distinguished as the first anthracycline capable of crossing the blood-brain barrier. Berubicin is currently being developed to treat various severe brain and CNS oncology conditions, including glioblastoma multiforme (GBM), a particularly aggressive and currently incurable form of brain cancer.

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