CNS Pharmaceuticals Inc. (NASDAQ: CNSP), a biopharmaceutical company dedicated to developing treatments for brain and central nervous system cancers, has announced a 1-for-12 reverse stock split set to take effect on July 22, 2025. This strategic move will see every twelve shares of the company's common stock converted into one share, with corresponding adjustments made to warrants and equity awards to maintain proportionality. The company's stock will continue to trade under the ticker symbol CNSP but will be assigned a new CUSIP number: 18978H508.
In instances where the reverse stock split would result in fractional shares, CNS Pharmaceuticals has stated that no fractional shares will be issued. Instead, shareholders will receive cash payments in lieu of fractional shares. Additionally, the company plans to reduce its authorized share count to 25 million shares, while the par value per share will remain unchanged at $0.001. This decision is designed to uniformly affect all shareholders, reflecting the company's commitment to equitable treatment of its investors.
For further details on the reverse stock split, interested parties can view the full press release here. CNS Pharmaceuticals continues to focus on its mission to address the unmet needs in the treatment of primary and metastatic cancers of the brain and central nervous system, with its lead drug candidate, Berubicin, showing promise in crossing the blood-brain barrier for the treatment of glioblastoma multiforme (GBM), among other serious indications.
