CNS Pharmaceuticals Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CNS Pharmaceuticals, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial activities and corporate events.</b>

AI Summary

CNS Pharmaceuticals, Inc. (CNSP) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. CNS Pharmaceuticals, Inc. filed a 10-Q for the quarter ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key dates mentioned include January 29, 2024, for warrant issuances and May 2, 2024, for subsequent events. The company's fiscal year ends on December 31. The filing includes details on stock options, warrants, and restricted stock units.

Why It Matters

For investors and stakeholders tracking CNS Pharmaceuticals, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of CNS Pharmaceuticals' financial health and operational status for the first quarter of 2024. The inclusion of specific dates for warrant issuances and subsequent events offers insight into recent corporate actions and potential future impacts on the company's capital structure.

Risk Assessment

Risk Level: medium — CNS Pharmaceuticals, Inc. shows moderate risk based on this filing. The company is in the pharmaceutical preparations industry, which is highly competitive and subject to extensive regulatory oversight, posing inherent risks to its financial performance and market position.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-Q to assess the company's current financial standing and future prospects.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report)
• 2024-01-01 — Quarter Start Date (Quarterly report)
• 2023-03-31 — Prior Year Quarter End Date (Quarterly report)
• 2024-05-15 — Filing Date (10-Q filing)
• 2024-01-29 — Warrant Issuance Date (Subsequent events)
• 2024-05-02 — Subsequent Event Date (Subsequent events)

Key Players & Entities

• CNS Pharmaceuticals, Inc. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-15 (date) — Filed as of date
• 2024-01-01 (date) — Quarterly period start date
• 2023-03-31 (date) — Prior year quarterly period end date
• 2024-01-29 (date) — Warrant issuance date
• 2024-05-02 (date) — Subsequent event date
• NV (jurisdiction) — State of incorporation

FAQ

Risk Factors

• Regulatory Risks [high — regulatory]: The pharmaceutical industry is subject to extensive regulation by agencies like the FDA, which can impact product development, approval, and market access.
• Market Competition [medium — market]: The company faces intense competition from other pharmaceutical companies, which can affect market share and pricing power.
• Financing Risks [medium — financial]: As a development-stage company, CNS Pharmaceuticals may require significant additional funding, and its ability to secure such funding is not guaranteed.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.

Key Financial Figures

• $0.001 — he registrant's common stock, par value $0.001 per share, as of May 15, 2024 was 11,85
• $1.28 — of Common Stock at an exercise price of $1.28 per share and a termination date of Oct
• $0.30 — s will have a reduced exercise price of $0.30 per share and a new termination date of
• $0.299 — warrants issued at an exercise price of $0.299 and 34,000 warrants previously issued a
• $60.00 — k over a ten trading day period exceeds $60.00 (subject to pro rata adjustment for sto
• $120.00 — k over a ten trading day period exceeds $120.00 (subject to pro rata adjustment for sto
• $10 — ing assumptions: underlying stock price $10.02, hurdle prices ranging from $60.00 -
• $120 — .02, hurdle prices ranging from $60.00 -$120.00, expected terms ranging from 2-3 yea
• $68,600 — all receive annual cash compensation of $68,600. As of August 25, 2022, Dr. Waldemar Pr
• $10,000 — first commercial sale of Berubicin plus $10,000. Reata also agreed to collaborate with

Filing Documents

• cns_i10q-033124.htm (10-Q) — 416KB
• cns_ex3101.htm (EX-31.1) — 7KB
• cns_ex3102.htm (EX-31.2) — 7KB
• cns_ex3201.htm (EX-32.1) — 3KB
• cns_ex3202.htm (EX-32.2) — 3KB
• 0001683168-24-003531.txt (&nbsp;) — 2845KB
• cnsp-20240331.xsd (EX-101.SCH) — 22KB
• cnsp-20240331_cal.xml (EX-101.CAL) — 24KB
• cnsp-20240331_def.xml (EX-101.DEF) — 111KB
• cnsp-20240331_lab.xml (EX-101.LAB) — 257KB
• cnsp-20240331_pre.xml (EX-101.PRE) — 209KB
• cns_i10q-033124_htm.xml (XML) — 265KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Balance Sheets as of March 31, 2024 and December 31, 2023 (unaudited) 3 Statements of Operations for the three months ended March 31, 2024 and 2023 (unaudited) 4 Statements of Stockholders' Equity (Deficit) for the three months ended March 31, 2024 and 2023 (unaudited) 5 Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 6 Notes to the Financial Statements (unaudited) 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.

Controls and Procedures

Controls and Procedures 21

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

Signatures

Signatures 26 2

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS CNS Pharmaceuticals, Inc. Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 Assets Current Assets: Cash and cash equivalents $ 815,226 $ 548,721 Deferred offering costs – 202,859 Prepaid expenses and other current assets 786,050 839,590 Total current assets 1,601,276 1,591,170 Noncurrent Assets: Prepaid expenses, net of current portion 55,296 104,750 Property and equipment, net 4,305 4,933 Total noncurrent assets 59,601 109,683 Total Assets $ 1,660,877 $ 1,700,853 Liabilities and Stockholders' Equity (Deficit) Current Liabilities: Accounts payable and accrued expenses $ 5,878,298 $ 5,832,162 Notes payable 213,104 300,806 Total current liabilities 6,091,402 6,132,968 Total Liabilities 6,091,402 6,132,968 Commitments and contingencies – – Stockholders' Equity (Deficit): Preferred stock, $ 0.001 par value, 5,000,000 shares authorized and 0 shares issued and outstanding – – Common stock, $ 0.001 par value, 75,000,000 shares authorized and 10,668,932 and 6,214,598 shares issued and outstanding, respectively 10,669 6,214 Additional paid-in capital 68,670,457 65,128,574 Accumulated deficit ( 73,111,651 ) ( 69,566,903 ) Total Stockholders' Equity (Deficit) ( 4,430,525 ) ( 4,432,115 ) Total Liabilities and Stockholders' Equity (Deficit) $ 1,660,877 $ 1,700,853 See accompanying notes to the unaudited financial statements. 3 CNS Pharmaceuticals, Inc. Statements of Operations (Unaudited) Three Months Ended Three Months Ended March 31, 2024 March 31, 2023 Operating expenses: General and administrative $ 1,114,442 $ 1,358,752 Research and development 2,430,412 3,567,759 Total operating expenses 3,544,854 4,926,511 Loss from operations ( 3,544,854 ) ( 4,926,511 ) Other income (expenses): Interest income 6,731 – Interest expense ( 6,625 ) ( 5,436 ) Total other income (expense) 106 ( 5,436 ) Net loss $ ( 3,544,7

financial statements and footnotes

financial statements and footnotes. Note 2 – Summary of Significant Accounting Policies Basis of Presentation - The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United Stated of America ("U.S. GAAP") for interim unaudited financial information. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. The unaudited financial statements include all adjustments (consisting of normal recurring adjustments) which are, in the opinion of management, necessary in order to make the condensed financial statements not misleading. Operating results for the three months ended March 31, 2024 are not necessarily indicative of the final results that may be expected for the year ending December 31, 2024. For more complete financial information, these unaudited financial statements should be read in conjunction with the audited financial statements for the period ended December 31, 2023 included in our Form 10-K filed with the SEC on April 1, 2024 ("Form 10-K"). Notes to the financial statements which would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal period, as reported in the Form 10-K, have been omitted. Liquidity and Going Concern - These financial statements have been prepared on a going concern basis, which assumes the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The continuation of the Company as a going concern is dependent upon the ability of the Company to obtain equity financings to continue operations. The Company has a history of and expects to continue to report negative cash flows from operations and a net loss. Management believes that the cash on hand is sufficient to fund its planned operations into but not beyond the near term. These f