CNS Pharmaceuticals Q2 2024 Net Loss Reduced To $2.5M Due To Lower CRO Expenses; R&D Costs Decrease To $1.1M; G&A Expenses Increase To $1.4M Due To Higher Legal And Professional Fees
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CNS Pharmaceuticals reported a reduced net loss of $2.5M for Q2 2024, attributed to lower CRO expenses. R&D costs decreased to $1.1M, while G&A expenses increased to $1.4M due to higher legal and professional fees. The company has a cash position of $1.5M, with an additional $12.4M raised post-June 30, ensuring sufficient funds through Q1 2025. Final Berubicin trial data is expected in H1 2025.
August 15, 2024 | 12:18 pm
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CNS Pharmaceuticals reported a reduced net loss of $2.5M for Q2 2024, driven by lower CRO expenses. The company has a cash position of $1.5M, with an additional $12.4M raised post-June 30, ensuring sufficient funds through Q1 2025. Final Berubicin trial data is expected in H1 2025.
The reduction in net loss and the additional funds raised post-June 30 are positive indicators for CNSP's financial health. The anticipation of final Berubicin trial data in H1 2025 could generate investor interest and potentially drive the stock price up in the short term.
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