CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) Posts Slight Q2 2022 Performance Improvement; Maintains Priorities and Focus on Advancing its Clinical Development Program for Berubicin
Sep 7, 2022
- CNS reported a decrease in losses from $3.8 million in Q2 2021 to $3.6 million in Q2 2022, as well as a drop in research and development expenses from $2.7 million to $2.2 million, with an increase in general and administrative expenses from $1.1 million to $1.3 million
- The company closed the quarter with $9.0 million in cash, and a working capital of approximately $10.3 million which, it is confident, will fund its operations into the 2023 calendar year
- CNS looks to continue site initiations across the U.S., Italy, France, Spain, and Switzerland, while also pushing for regulatory and ethics approvals specifically for Italy
- It maintains that its focus and priorities remain on advancing its clinical development program for Berubicin for the treatment of GBM
CNS Pharmaceuticals (NASDAQ: CNSP), a clinical stage biotechnology enterprise focusing on the development of novel treatments for brain tumors, just released its financial results for the second quarter (“Q2”) of the 2022 fiscal year ended June 30, 2022. Of note was a notable performance improvement, with losses dropping from $3.8 million during the same period in 2021 to $3.6 million in 2022. This improvement was mainly attributed to the decreases in the timing of drug development expenses (https://ibn.fm/TWnMh).
Research and development expenses also dropped from $2.7 million in Q2 2021 to $2.2 million for Q2 2022. On the other hand, general and administrative expenses saw a bump to $1.3 million, up from $1.1 million during the same period in 2021. This was linked to overall growth in…
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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