CNS Pharmaceuticals Inc. (CNSP) stock rebounded in the after-hours on Friday, to add 12.47% at $0.79. Hence, the stock entered the new year in the green, while it had been trading in the red for some time now.
During the regular session, the stock saw a decline of 7.49% at its close of $0.7024 on Friday. The stock rebounded in the after-hours to recover more than it lost during the regular session. Consequently, CNSP was trading at $0.7900 apiece at a volume of 42.63K shares in the after hours.
In the past five days, the stock has lost 19.01% and over 29.4% last month. Moreover, the stock has subtracted a value of 52.54% in the past three months and 60.54% in 2021.
Currently, the 27.92 million outstanding shares of the biopharmaceutical company trade at a market capitalization of $19.61 million.
CNSP’s Approval from Switzerland Ethics Committee
On December 02, the company announced approval from swissethics for its pivotal study of Berubicin. Swissethics is the umbrella organization of the cantonal Ethics Committees (EC) in Switzerland. Moreover, approval was received for the study of the product in treating recurrent glioblastoma multiforme (GBM). GBM is one of the most aggressive forms of brain cancer.
The trial will be an adaptive, multicenter, open-label, randomized, and controlled study in GBM patients after standard first-line therapy failure. Moreover, the primary endpoint of the study is Overall Survival.
In addition, CNSP hopes to expand the pivotal study to more sites throughout the world.
Berubicin
Berubicin is an anthracycline, which is one of the most effective chemotherapy drugs. Recently, Berubicin was granted Fast Track Designation by the FDA. Moreover, it has also received Orphan Drug Designation from the FDA, allowing for up to seven years of marketing exclusivity to CNSP, upon NDA approval.
Recent Participation
As per November 16’s announcement, the company recently participated in the Virtual Investor Roundtable Event. CNSP’s CEO, John Climaco, and CMO, Sandra L. Silberman participated in the event which took place on November 18, 2021.
CNSP’s Financials
The company declared its financial results for the first half of 2021 on August 13, 2021.
In the first half of 2021, CNSP incurred a net loss of $3.8 million, against $2.4 million in the year-ago period.
Moreover, the company ended the first half of 2021, with cash and subscription receivable (fully collected on July 1) of $10.5 million. Furthermore, the working capital at the end of the period was $12.1 million approx.
