Business
CNS Pharmaceuticals Announces Business Highlights and 2019 Fourth Quarter Financial Results
Company to Host Business Update Conference Call Today at 4:30 p.m. ET HOUSTON, March 12, 2020 /PRNewswire/ -- CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) ("CNS"
About this update from Cns Pharmaceuticals, Inc.
[{"type":"text","content":"Company to Host Business Update Conference Call Today at 4:30 p.m. ET\n\n\nHOUSTON, March 12, 2020 /PRNewswire/ -- CNS Pharmaceuticals, Inc. (NASDAQ: CNSP) (\"CNS\" or the \"Company\"), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers of the brain and central nervous system, today announced business highlights and financial results for the three months ended December 31, 2019 and Fiscal Year 2019.\n\n \n \n \n \n \n \n\n \nBusiness highlights for the fourth quarter of 2019 and recent weeks include the following:\nSelected a leading Polish institution for the Phase 1 pediatric trial with Berubicin in glioblastoma multiforme (\"GBM\"). In February 2020, CNS announced the selection of Children's Memorial Health Institute, the largest pediatric hospital in Poland as the single site for this pediatric trial which is expected to commence in the second half of 2020. Completed final Good Manufacturing Practice (\"GMP\") reprocessing and purity validation of the existing batch of its lead drug candidate Berubicin. In February 2020, the Company announced the final GMP reprocessing of the existing batch of Berubicin, reporting the GMP material met all specifications and analytical testing is now underway. The Company is continuing large-scale production of Berubicin and intends to utilize this supply to complete its planned Phase 2 clinical trial for patients with GBM. Licensed a novel DNA-binding technology from The University of Texas MD Anderson Cancer Center to expand the clinical pipeline. In January 2020, CNS entered into a licensing agreement with MD Anderson, granting the Company rights to develop and commercialize WP1244, a new class of DNA-binding agent designed to cross the blood-brain barrier for the potential treatment of primary and metastatic brain cancers. WP1244 has been shown in preclinical studies to be 500-times more potent than the chemotherapeutic agent daunorubicin in inhibiting tumor cell proliferation. Received positive feedback from the U.S. Food and Drug Administration (\"FDA\") for Pre-IND (Investigational New Drug) proposal. In its December 2019 positive response to the Company's Pre-IND request, the FDA indicated that the proposal to use a previously manufactured and currently available supply of a lyophilized drug product (i.e., Berubicin) in t...