HOUSTON, TX / ACCESSWIRE / May 3, 2023 / CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) ("CNS" or the "Company"), a biopharmaceutical company specializing in the development of novel treatments for primary and metastatic cancers in the brain and central nervous system, today announced that it is investigating potential naked short selling of its stock and has retained well-known analytics firm, Shareholder Intelligence Services, LLC ("ShareIntel"), to review the trading patterns of the Company's common stock. The Company values its shareholders and wants to have all available data at its disposal to act in its fiduciary capacity.
"While we are pleased to see the significant price appreciation in our stock as well as an increased high volume of trading activities, our shareholders have expressed concerns that our stock may be a target for illegal naked short selling," noted CEO, John Climaco. "I personally want our loyal shareholders, who have, for years, supported our efforts to develop a novel treatment for glioblastoma, to know that we have heard them. We have zero tolerance for illegal naked short selling and any other manipulation of our stock. We now have in place the tools to analyze the situation thoroughly and will not hesitate to act in the best interest of our shareholders should we uncover any illegal or otherwise prohibited trading activity."
About CNS Pharmaceuticals, Inc.
CNS Pharmaceuticals a clinical-stage pharmaceutical company developing a pipeline of anti-cancer drug candidates for the treatment of primary and metastatic cancers of the brain and central nervous system. The Company's lead drug candidate, Berubicin, is a novel anthracycline and the first anthracycline to appear to cross the blood-brain barrier. Berubicin is currently in development for the treatment of a number of serious brain and CNS oncology indications including glioblastoma multiforme (GBM), an aggressive and incurable form of brain cancer.
About Shareholder Intelligence Services, LLC
Shareintel is a patented compliance driven SAAS retained by public companies to track shareholder ownership and monitor broker-dealer and shareholder movement. DRIL-Down™ identifies participants to potential abusive and illegal short selling providing actionable intelligence. For more information, visit www.shareintel.com
Some of the statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements in this press release include, without limitation, the results of the review of the trading activity in the Company's common stock. These statements relate to future events, future expectations, plans and prospects. Although CNS believes the expectations reflected in such forward-looking statements are reasonable as of the date made, expectations may prove to have been materially different from the results expressed or implied by such forward-looking statements. CNS has attempted to identify forward-looking statements by terminology including ''believes,'' ''estimates,'' ''anticipates,'' ''expects,'' ''plans,'' ''projects,'' ''intends,'' ''potential,'' ''may,'' ''could,'' ''might,'' ''will,'' ''should,'' ''approximately'' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, including those discussed under Item 1A. "Risk Factors" in CNS's most recently filed Form 10-K filed with the Securities and Exchange Commission ("SEC") and updated from time to time in its Form 10-Q filings and in its other public filings with the SEC. Any forward-looking statements contained in this press release speak only as of its date. CNS undertakes no obligation to update any forward-looking statements contained in this press release to reflect events or circumstances occurring after its date or to reflect the occurrence of unanticipated events.
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SOURCE: CNS Pharmaceuticals, Inc.
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