As more and more companies report their quarterly financial results, it is perhaps time for investors to take a look at many of those and one of the companies one could take a look into is CNS Pharmaceuticals Inc (NASDAQ:CNSP).
This past Friday the company announced its financial results for the quarter that concluded on June 30, 2021 and upon the announcement, the CNS stock ended up with gains of as much as 2.50%. In the second fiscal quarter, the net losses actually widened for CNS to as much as $3.8 million from $2.8 million in the prior year period.
The increase in net losses was brought about by the considerable rise in activity with regards to personal and also due to the expenses in relation to the clinical trials that are to be conducted by CNS this year.
In the six months that ended on June 30, 2021 the company spent as much as $4.8 million in the form of research and development expenses. In the corresponding period in 2020, CNS had spent only $2.1 million. Investors have possible become far more optimistic about the CNS stock due to the increased activity and it now remains to be seen if the stock can continue to add to its gains this week.