Certain Common Stock of CNS Pharmaceuticals, Inc. are subject to a Lock-Up Agreement Ending on 23-MAR-2021.
March 22, 2021
Share
Certain Common Stock of CNS Pharmaceuticals, Inc. are subject to a Lock-Up Agreement Ending on 23-MAR-2021. These Common Stock will be under lockup for 91 days starting from 22-DEC-2020 to 23-MAR-2021.
Details:
Directors and executive officers have entered into lock-up agreements. Under these agreements, these individuals have agreed, subject to specified exceptions, not to sell or transfer any shares of common stock or securities convertible into, or exchangeable or exercisable for, shares of common stock during a period ending 90 days after the date of this prospectus, without first obtaining the written consent of A.G.P./Alliance Global Partners. Specifically, these individuals have agreed, in part, not to offer, pledge, sell, contract to sell, grant, lend or otherwise transfer or dispose of, directly or indirectly, any shares of common stock or any securities convertible into or exercisable or exchangeable for shares of common stock, whether now owned or hereafter acquired or with respect to which such person has or later acquires the power of disposition, whether any such transaction is to be settled by delivery of securities, in cash, or otherwise, enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of securities, whether any such transaction is to be settled by delivery of shares of common stock, in cash or otherwise make any demand for or exercise any right with respect to the registration of any of securities or publicly disclose the intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any of securities.
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.