CNS Pharma: Falls on pricing of $10 mln share offering

CNS Pharmaceuticals

23/12/2020 15:03

** Shares of biotech firm  CNSP.O  down 12.8% at $1.83 
    ** Co announces offering of 5 mln shares at $2 apiece to
raise net proceeds of $10 mln  urn:newsml:reuters.com:*:nPn1mlyTja
    ** Offer price is at a 4.7% discount to stock's last close 
    ** Shares on offer represent 30% of co's currently
outstanding stock
    ** Co intends to use net proceeds for its phase 2 trial for
brain cancer drug Berubicin, research and development
    ** Offering expected to close on or about Dec. 28
    ** CNSP shares down 46.8% this year, as of last close

 (Reporting by Lasya Priya M in Bengaluru)
 ((LasyaPriya.M@thomsonreuters.com;))