CNS Pharmaceuticals, Inc. announced that it expects to receive $1.07 million in funding
March 12, 2018
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CNS Pharmaceuticals, Inc. announced that it has entered into agreement for a private placement of minimum 100,000 and 1,070,000 simple agreement for future equity units at a price of $1 per unit for minimum gross proceeds of $100,000 and maximum of $1,070,000 on March 13, 2018. The company will raise funding through OpenDeal Inc. crowdfunding platform. The oversubscription will be accepted in a transaction. The transaction is expected to close by June 11, 2018. The company may pay 5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out of pocket third party expenses it pays or incurs on behalf of the issuer in connection with the offering and may issue 2% of securities sold in the transaction. The minimum amount accepted by the investor is $250. The company has reported total assets of $162,194 and net income of -$219,362 for the period ended December 31, 2017.
CNS Pharmaceuticals, Inc. 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 (CNS). 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 in development for the treatment of a number of serious brain and CNS oncology indications, including glioblastoma multiforme (GBM), an aggressive and incurable form of brain cancer. In addition, the Company is advancing the development of its WP1244/WP1874 drug technology, which utilizes anthracycline and distamycin-based scaffolds to create small molecule agents. The Company is also evaluating the use of WP1244/WP1874 in the treatment of other primary brain and central nervous system cancers, as well as cancers metastatic to the brain including pancreatic, ovarian, and lymphomas.
CNS PHARMACEUTICALS, INC. 
