CNS Pharmaceuticals Inc. (NASDAQ:CNSP) shares are up during Wednesday's premarket session.

The company on Tuesday announced a strategic pivot to acquire clinical-stage assets with identifiable near-term value, sending shares higher and then closing around 9% on Tuesday.

The move follows the recent news of a capital raise, where CNS Pharmaceuticals has entered into securities purchase agreements to sell 650,000 shares at a price of $2.30 each, along with pre-funded warrants for 9,143,479 shares at $2.299 per warrant, expected to close around May 5, 2026.

The company aims to use these funds to support its new corporate strategy announced in March 2026.

CNS Pharmaceuticals Pivot: Acquisition-Driven Neurology And Oncology Pipeline

CNS Pharmaceuticals is pivoting from its previous focus on glioblastoma multiforme treatments to a new growth strategy centered on building a high-value pipeline in neurology and oncology.

This shift includes actively discussing out-licensing its legacy glioblastoma programs, allowing the company to focus on acquiring differentiated assets with strong clinical and commercial potential.

CNSP Technical Outlook: Bullish Momentum And Key Levels

The stock's current price of $7.63 is significantly above its 20-day simple moving average (SMA) of $2.92, indicating strong bullish momentum.

The relative strength index (RSI) currently sits at 81.59, suggesting that the stock is overbought, which may indicate a potential pullback in the near term.

Key Resistance: $9.00 — a nearby level where rebounds can stall. Key Support: $5.88 — This level aligns with the 200-day SMA, providing a potential floor for the stock.

How CNSP Ranks On Momentum Versus The Market

Below is the Benzinga Edge scorecard for CNS Pharmaceuticals, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Weak (Score: 25.37) — Stock is underperforming the broader market.

The Verdict: CNS Pharmaceuticals' Benzinga Edge signal reveals a weak profile, indicating challenges in gaining traction within the market. The company's focus on a new strategic direction may provide future opportunities, but current momentum suggests caution for investors.

CNSP Price Action: CNS Pharmaceuticals shares were up 4.90% at $7.50 at the time of publication on Wednesday, according to Benzinga Pro data.

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