CERC Cerecor Inc.

2.43
+0.18  (+8%)
Previous Close 2.25
Open 2.27
52 Week Low 1.52
52 Week High 6.19
Market Cap $185,061,972
Shares 76,157,190
Float 45,016,400
Enterprise Value $140,104,218
Volume 246,867
Av. Daily Volume 617,308
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Upcoming Catalysts

Drug Stage Catalyst Date
CERC-002
COVID-19 induced Acute Respiratory Distress Syndrome (ARDS)
Phase 2
Phase 2
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CERC-002
Crohn’s disease (adults)
Phase 1b
Phase 1b
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CERC-002 (AEVI-002)
Pediatric onset Crohn's disease
Phase 1b
Phase 1b
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CERC-007
Adult Onset Still's Disease (AOSD) and Multiple Myeloma (MM)
Phase 1/2
Phase 1/2
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CERC-006
Lymphatic Malformations
Phase 1/2
Phase 1/2
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CERC-802
Phase 3
Phase 3
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CERC 801
Phosphoglucomutase 1 (PGM1) deficiency
Phase 3
Phase 3
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Drug Pipeline

Drug Stage Notes
CERC-501
Smoking cessation
Phase 2
Phase 2
Phase 2 top-line data released December 5, 2016 - endpoint not met.
CERC-301
Major depressive disorder (MDD)
Phase 2
Phase 2
Phase 2 top-line data released November 29, 2016 failed to meet primary endpoint.

Latest News

  1. ROCKVILLE, Md. and CHESTERBROOK, Pa., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases, today announced that Michael F. Cola, President and Chief Executive Officer, will present at two upcoming virtual conferences.

    H.C. Wainwright 22nd Annual Global Investment Conference
    Date: Monday, September 14, 2020
    Time: 3:00 PM ET

    Oppenheimer Fall Healthcare Life Sciences & MedTech Summit
    Date: Monday, September 21, 2020
    Time: 1:40 PM ET

    A live webcast of the presentations can be accessed under "News/Events" page in the Investors section of the Company's website at www.cerecor.com.

    About Cerecor

    Cerecor…

    ROCKVILLE, Md. and CHESTERBROOK, Pa., Sept. 10, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases, today announced that Michael F. Cola, President and Chief Executive Officer, will present at two upcoming virtual conferences.

    H.C. Wainwright 22nd Annual Global Investment Conference

    Date: Monday, September 14, 2020

    Time: 3:00 PM ET

    Oppenheimer Fall Healthcare Life Sciences & MedTech Summit

    Date: Monday, September 21, 2020

    Time: 1:40 PM ET

    A live webcast of the presentations can be accessed under "News/Events" page in the Investors section of the Company's website at www.cerecor.com.

    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases. The company is advancing its clinical-stage pipeline of innovative therapies that address unmet patient needs within rare and orphan diseases. The company's rare disease pipeline includes CERC-801, CERC-802 and CERC-803 ("CERC-800 compounds"), which are therapies for inherited metabolic disorders known as congenital disorders of glycosylation. The U.S. Food and Drug Administration ("FDA") granted Rare Pediatric Disease Designation ("RPDD") and Orphan Drug Designation ("ODD") to all three CERC-800 compounds, thus potentially qualifying the Company to receive a Priority Review Voucher ("PRV") upon approval of each new drug application ("NDA"). The company is also developing CERC-002, CERC-006 and CERC-007. CERC-002 is an anti-LIGHT monoclonal antibody being developed for the treatment of severe pediatric-onset Crohn's disease, and is also in a clinical trial for COVID-19 acute respiratory distress syndrome. CERC-006 is a dual mTOR inhibitor being developed for the treatment of complex lymphatic malformations and has been granted RPDD and ODD by the FDA, thus potentially qualifying the company to receive a fourth PRV upon approval of an NDA. CERC-007 is an anti-IL-18 monoclonal antibody being developed for the treatment of autoimmune inflammatory diseases such as adult onset Stills disease, and multiple myeloma. 

    For more information about Cerecor, please visit www.cerecor.com.

    Forward-Looking Statements

    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor's control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor's management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor's cash position and the potential need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor's filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    For media and investor inquiries

    James Harrell

    Investor Relations

    Chief Commercial Officer

    Cerecor Inc.



    623.439.2220 office

    Primary Logo

    View Full Article Hide Full Article
  2. ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 26, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases, today announced it has resumed the Phase 1b clinical study of CERC-002 in anti-TNF refractory adult Crohn's patients with the lifting of the moratorium on elective endoscopy resulting from the COVID-19 pandemic. CERC-002 is a first-in-class fully human anti-LIGHT (TNFSF14) monoclonal antibody currently being developed as a treatment for severe pediatric onset Crohn's disease as well as in a placebo-controlled proof-of-concept trial evaluating the safety and efficacy in patients with COVID-19 cytokine storm-induced…

    ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 26, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases, today announced it has resumed the Phase 1b clinical study of CERC-002 in anti-TNF refractory adult Crohn's patients with the lifting of the moratorium on elective endoscopy resulting from the COVID-19 pandemic. CERC-002 is a first-in-class fully human anti-LIGHT (TNFSF14) monoclonal antibody currently being developed as a treatment for severe pediatric onset Crohn's disease as well as in a placebo-controlled proof-of-concept trial evaluating the safety and efficacy in patients with COVID-19 cytokine storm-induced Acute Respiratory Distress Syndrome (ARDS).

    The open-label, dose-escalating, signal-finding Phase 1b clinical study is designed to assess the safety, tolerability, and short-term efficacy of CERC-002 in adult subjects with moderate-to-severe Crohn's disease who have previously failed treatment with anti-TNF agents. The Company expects to announce topline data in the first quarter of 2021.

    "We are excited to now have two active clinical studies evaluating the safety and efficacy of the anti-LIGHT monoclonal antibody, CERC-002," stated Dr. H. Jeffery Wilkins, chief medical officer at Cerecor. "There has been an increasing level of scientific evidence supporting the rationale behind LIGHT being a key target for immune conditions of the mucosa of the lung and gut.  We believe CERC-002 may have the potential to treat both patients with Crohn's disease refractory to biologics and patients with COVID-19 ARDS, both of which lack effective treatment options."

    Role of LIGHT in Acute Inflammatory Response

    LIGHT (homologous to Lymphotoxin, exhibits inducible expression and competes with HSV glycoprotein D for binding to herpesvirus entry mediator, a receptor expressed on lymphocytes) is a cytokine with inflammatory actions encoded by the Tumor Necrosis Factor Super Family 14 gene. LIGHT has been shown to play a key role in the immune response to viral pneumonia. LIGHT plays an important role in regulating immune responses in the lung and gut. It stimulates T Cell and B Cell response as well as induces the release of other cytokines such as IL-1, IL-6, IL-8, IL-10, TNFs and GM-CSF.

    CERC-002 (anti-LIGHT monoclonal antibody)

    CERC-002 is a first in class fully human anti-LIGHT (TNFSF14) monoclonal antibody licensed from Kyowa Kirin Co., Ltd. It offers the potential to treat cytokine release syndrome-induced COVID-19 ARDS in the near-term and broader ARDS indication beyond. It is currently being developed as a treatment for pediatric Crohn's disease and now cytokine release syndrome induced COVID-19 ARDS. Cerecor has also developed a validated serum/plasma free LIGHT assay in collaboration with Myriad RBM. This assay has shown to have high sensitivity and specificity for free LIGHT which has been shown to be elevated in patients with active Crohn's disease and with COVID-19 related ARDS.

    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare and orphan diseases.  The company is advancing its clinical-stage pipeline of innovative therapies that address unmet patient needs within rare and orphan diseases.  The company's rare disease pipeline includes CERC-801, CERC-802 and CERC-803 ("CERC-800 compounds"), which are therapies for inherited metabolic disorders known as congenital disorders of glycosylation.  The U.S. Food and Drug Administration ("FDA") granted Rare Pediatric Disease Designation ("RPDD") and Orphan Drug Designation ("ODD") to all three CERC-800 compounds, thus potentially qualifying the Company to receive a Priority Review Voucher ("PRV") upon approval of each new drug application ("NDA").  The company is also developing CERC-002, CERC-006 and CERC-007.  CERC-002 is an anti-LIGHT monoclonal antibody being developed for the treatment of severe pediatric-onset Crohn's disease, and is also in clinical trial for COVID-19 acute respiratory distress syndrome.  CERC-006 is a dual mTOR inhibitor being developed for the treatment of complex lymphatic malformations and has been granted ODD and RPDD by the FDA, thus potentially qualifying the company to receive a fourth PRV upon approval of an NDA.  CERC-007 is an anti-IL-18 monoclonal antibody being developed for the treatment of autoimmune inflammatory diseases such as adult onset Stills disease and multiple myeloma. 

    For more information about Cerecor, please visit www.cerecor.com.

    Forward-Looking Statements

    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor's control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor's management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor's cash position and the potential need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor's filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    For media and investor inquiries

    James Harrell

    Investor Relations

    Chief Commercial Officer

    Cerecor Inc.



    623.439.2220 office

    Primary Logo

    View Full Article Hide Full Article
  3. ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases, today announced the publication of a peer-reviewed paper demonstrating significantly elevated free LIGHT levels in the serum of hospitalized patients with severe COVID-19 infection. The publication, entitled Levels of the TNF related cytokine, LIGHT, increased in hospitalized COVID-19 patients with Cytokine Release Syndrome and ARDS in the Journal mSphere by David S. Perlin et al, highlights the potential role of the inflammatory cytokine, LIGHT in the development of COVID-19 ARDS. Cerecor believes…

    ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 13, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases, today announced the publication of a peer-reviewed paper demonstrating significantly elevated free LIGHT levels in the serum of hospitalized patients with severe COVID-19 infection. The publication, entitled Levels of the TNF related cytokine, LIGHT, increased in hospitalized COVID-19 patients with Cytokine Release Syndrome and ARDS in the Journal mSphere by David S. Perlin et al, highlights the potential role of the inflammatory cytokine, LIGHT in the development of COVID-19 ARDS. Cerecor believes that the publication supports its clinical program evaluating CERC-002, the only clinical stage anti-LIGHT monoclonal antibody, as a potential treatment for patients with severe COVID-19 acute respiratory distress syndrome ("ARDS"). A link to the publication can be accessed here.

    Dr. Perlin, chief scientific officer, senior vice president of the Center for Discovery and Innovation, and Professor of Medical Sciences at the Hackensack Meridian School of Medicine, said, "Identifying the role of LIGHT in patients infected with SARS-CoV-2 ("COVID-19") is a seminal finding pointing to understanding the potential mechanism by which COVID-19 infection leads to ARDS and suggests a promising new strategy to treat these patients." 

    "We believe these compelling results strongly support our hypothesis that LIGHT plays an important role in COVID-19 ARDS and indicated that a clinical trial of CERC-002 in COVID-19 ARDS was a logical next step," said Dr. Garry Neil, chief scientific officer at Cerecor. "This study is now well underway, and we expect topline results in the fourth quarter of 2020. We are further exploring the potential role of LIGHT as a driver of and biomarker for ARDS in additional studies of both COVID-19 infected patients as well as in a broader patient population of non-COVID-19 associated ARDS patients. From these studies we hope to learn more about the role of LIGHT in ARDS in general, while potentially opening a path for treatment of a broader population of ARDS patients who have high mortality and, in many cases, lack effective treatment options."

    Role of LIGHT in Acute Inflammatory Response

    LIGHT (homologous to Lymphotoxin, exhibits inducible expression and competes with HSV glycoprotein D for binding to herpesvirus entry mediator, a receptor expressed on T lymphocytes) is a cytokine with inflammatory actions encoded by the Tumor Necrosis Factor Super Family 14 gene. LIGHT has been shown to play a key role in the immune response to viral pneumonia. LIGHT plays an important role in regulating immune responses in the lung, gut and skin. It stimulates T Cell and B Cell response as well as induces the release of other cytokines such as IL1, IL6, IL-8, IL-10, TNF and GM-CSF.

    CERC-002 (anti-LIGHT monoclonal antibody)

    CERC-002 is a first in class fully human anti-LIGHT (TNFSF14) monoclonal antibody licensed from Kyowa Kirin Co., Ltd. It offers the potential to treat cytokine release syndrome-induced COVID-19 ARDS in the near-term and broader ARDS indication beyond. It is currently being developed as a treatment for pediatric Crohn's disease and now cytokine release syndrome induced COVID-19 ARDS. Cerecor has also developed a validated serum/plasma free LIGHT assay in collaboration with Myriad RBM. This assay has shown to have high sensitivity and specificity for free LIGHT which has been shown to be elevated in patients with active Crohn's disease and with COVID-19 related ARDS.

    About the CERC-002 COVID-19 ARDS Trial

    Cerecor is sponsoring a randomized, multicenter U.S., double-blind, placebo-controlled clinical study that will enroll approximately 82 subjects hospitalized with COVID-19 ARDS. The primary objective of the study is to demonstrate that treatment with CERC-002 results in fewer instances of respiratory failure and death versus the standard of care. Patients in the CERC-002 arm will receive a single dose of drug and be followed for 28 days. Key secondary endpoints include intensive care unit length of stay, hospital length of stay, and oxygen saturation at the end of the study. The trial is currently underway and enrolling patients in the U.S. with topline data expected in the fourth quarter of 2020.

    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases. The company is advancing its clinical-stage pipeline of innovative therapies that address unmet patient needs within rare pediatric and orphan diseases. The company's pediatric rare disease pipeline includes CERC-801, CERC-802 and CERC-803 ("CERC-800 compounds"), which are therapies for inherited metabolic disorders known as congenital disorders of glycosylation. The U.S. Food and Drug Administration ("FDA") granted Rare Pediatric Disease Designation ("RPDD") and Orphan Drug Designation ("ODD") to all three CERC-800 compounds, thus potentially qualifying the Company to receive a Priority Review Voucher ("PRV") upon approval of each new drug application ("NDA"). The company is also developing CERC-002, CERC-006 and CERC-007. CERC-002 is an anti-LIGHT monoclonal antibody being developed for the treatment of COVID-19 acute respiratory distress syndrome and pediatric-onset Crohn's disease. CERC-006 is a dual mTOR inhibitor being developed for the treatment of complex lymphatic malformations and has been granted ODD and RPDD by the FDA, thus potentially qualifying the company to receive a fourth PRV upon approval of an NDA. CERC-007 is an anti-IL-18 monoclonal antibody being developed for the treatment of autoimmune inflammatory diseases such as adult onset Stills disease and multiple myeloma. 

    For more information about Cerecor, please visit www.cerecor.com.

    Forward-Looking Statements

    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor's control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor's management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor's cash position and the potential need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor's filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    For media and investor inquiries

    James Harrell

    Investor Relations

    Chief Commercial Officer

    Cerecor Inc.



    623.439.2220 office

    Primary Logo

    View Full Article Hide Full Article
  4. -Generated net proceeds of $48 million from equity offering and disposition of Aytu shares to support pipeline advancement

    -Enrolled first patient in CERC-002 (anti-LIGHT mAb) clinical trial for the prevention of COVID-19 induced ARDS

    ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a leading biopharmaceutical company focused on development and commercialization of treatments for rare pediatric and orphan diseases, today announced recent business progress and second quarter results for 2020.

    "We're pleased with our progress as we have continued to advance our pipeline, including investigating the use of our novel anti-inflammatory candidate, CERC-002, for the potential treatment of COVID-19

    -Generated net proceeds of $48 million from equity offering and disposition of Aytu shares to support pipeline advancement

    -Enrolled first patient in CERC-002 (anti-LIGHT mAb) clinical trial for the prevention of COVID-19 induced ARDS

    ROCKVILLE, Md. and CHESTERBROOK, Pa., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a leading biopharmaceutical company focused on development and commercialization of treatments for rare pediatric and orphan diseases, today announced recent business progress and second quarter results for 2020.

    "We're pleased with our progress as we have continued to advance our pipeline, including investigating the use of our novel anti-inflammatory candidate, CERC-002, for the potential treatment of COVID-19 induced ARDS, while also significantly strengthening our balance sheet," said Mike Cola, Chief Executive Officer of Cerecor. "Building on our work with Myriad Genetics demonstrating that levels of the cytokine LIGHT were highly correlated with disease severity and mortality in COVID-19 induced ARDS, we were pleased to enroll our first patient in a proof-of-concept trial evaluating CERC-002 in this patient population. As we look to the second half of the year, we believe we are well-positioned to advance our programs given progress to date and our improved cash position."

    Second Quarter Highlights and Business Update

    • Reported results from a biomarker study in partnership with Myriad Genetics and Hackensack Meridian Health Network that highlighted the correlation of a novel cytokine, LIGHT, with disease severity and mortality in patients with COVID-19 induced ARDS. These data establish the rationale for the proof-of-concept clinical trial
    • Enrolled the first patient in the CERC-002 proof-of-concept trial evaluating the safety and efficacy in patients with COVID-19 induced acute respiratory distress syndrome (ARDS)
    • Completed CDG FIRST (a retrospective trial evaluating the use of monosaccharide replacement therapy in PGMI-CDG, MPI-CDG and LADII-CDG); initial findings are informing prospective trial design and study sites for anticipated pivotal trials for CERC-800 series

    Second Quarter Financial Update

    Cerecor reported a cash balance of $45.4 million as of June 30, 2020, representing a $39.7 million increase as compared to March 31, 2020. The increase was primarily due to an underwritten public offering that resulted in net proceeds of $35.4 million and the sale of an investment for net proceeds of $12.8 million, partially offset by operating activities, including increased research and development expenses.

    Cerecor recognized $5.9 million of research and development expenses and $6.1 million of general and administrative expenses during the quarter, which were the primary drivers of the increase in operating expenses, net loss and net loss per share as compared to the same period in 2019. General and administrative expenses increased $3.8 million primarily due to increased stock-based compensation and severance expenses as a result of leadership changes during the quarter, while research and development expenses increased $2.2 million due to the Company continuing to advance its expanded pipeline assets.





    Condensed Consolidated Balance Sheets

        
     June 30, 2020 (a)   December 31, 2019 (a)
      (unaudited)   
        
    Assets(in thousands)
    Current assets:   
    Cash and cash equivalents$45,391  $3,609 
    Accounts receivable, net 2,032   1,002 
    Other receivables 1,953   4,241 
    Inventory, net 12   21 
    Prepaid expenses and other current assets 824   707 
    Restricted cash, current portion 33   17 
    Investment in Aytu -   7,629 
    Current assets of discontinued operations -   498 
    Total current assets 50,245   17,724 
    Property and equipment, net 1,741   1,448 
    Intangible assets, net 2,292   2,426 
    Goodwill 14,409   14,409 
    Restricted cash, net of current portion 180   102 
    Deferred tax asset, net 338   - 
    Total assets$69,205  $36,109 
    Liabilities and stockholders' equity   
    Current liabilities:   
    Accounts payable$2,558  $2,078 
    Accrued expenses and other current liabilities 6,487   5,640 
    Income taxes payable -   552 
    Current liabilities of discontinued operations 5,550   3,891 
    Total current liabilities 14,595   12,161 
    Royalty Obligation 2,000   - 
    Deferred tax liability, net -   86 
    Other long-term liabilities 2,032   1,112 
    Long-term liabilities of discontinued operations -   1,755 
    Total liabilities 18,627   15,114 
    Stockholders' equity:   
    Common stock—$0.001 par value; 200,000,000 shares authorized at June 30, 2020 and December 31, 2019; 74,900,047 and 44,384,222 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 75   44 
    Preferred stock—$0.001 par value; 5,000,000 shares authorized at June 30, 2020 and December 31, 2019; 1,257,143 and 2,857,143 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively 1   3 
    Additional paid-in capital 199,191   135,239 
    Accumulated deficit (148,689)  (114,291)
    Total stockholders' equity 50,578   20,995 
    Total liabilities and stockholders' equity$69,205  $36,109 
        
    (a) The condensed consolidated balance sheets as of June 30, 2020 and December 31, 2019 have been derived from the reviewed and audited financial statements but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.





    Condensed Consolidated Statements of Operations

      Three Months Ended June 30,  Six Months Ended June 30,

     
     2020 (a) 2019 (a) 2020 (a) 2019 (a) 
      (in thousands, except per share data)   (in thousands, except per share data)  
    Revenues:        
    Product revenue, net$1,338  $1,392  $4,092  $3,968  
    Total revenues, net 1,338   1,392   4,092   3,968  
             
    Operating expenses:        
    Cost of product sales 78   (1,497)  144   (744) 
    Research and development 5,917   3,712   10,685   7,114  
    Acquired in-process research and development -   -   25,549   -  
    General and administrative 6,101   2,341   8,777   5,016  
    Sales and marketing 653   326   1,330   722  
    Amortization expense 404   335   834   669  
    Change in fair value of contingent consideration -   (1,277)  -   (1,256) 
    Total operating expenses 13,153   3,940   47,319   11,521  
    Loss from continuing operations (11,815)  (2,548)  (43,227)  (7,553) 
    Other income (expense):        
    Change in fair value of Investment in Aytu (1,872)  -   5,208   -  
    Change in fair value of warrant liability and unit purchase option liability 2   19   14   (29) 
    Other income (expense), net 396   -   396   (9) 
    Interest income, net 9   38   18   69  
    Total other (expense) income, net from continuing operations (1,465)  57   5,636   31  
    Loss from continuing operations before taxes (13,280)  (2,491)  (37,591)  (7,522) 
    Income tax (benefit) expense (454)  53   (2,611)  184  
    Loss from continuing operations$(12,826) $(2,544) $(34,980) $(7,706) 
    (Loss) income from discontinued operations, net of tax (455)  (3,679)  582   (5,971) 
    Net loss$(13,281) $(6,223) $(34,398) $(13,677) 
             
    Net (loss) income per share of common stock, basic and diluted:        
    Continuing operations$(0.18) $(0.05) $(0.53) $(0.14) 
    Discontinued operations (0.01)  (0.06)  0.01   (0.10) 
    Net loss per share of common stock, basic and diluted$(0.19) $(0.11) $(0.52) $(0.24) 
             
    Net (loss) income per share of preferred stock, basic and diluted:        
    Continuing operations$(0.93) $(0.23) $(2.66) $(0.68) 
    Discontinued operations (0.03)  (0.32)  0.04   (0.53) 
    Net loss per share of preferred stock, basic and diluted$(0.96) $(0.55) $(2.62) $(1.21) 
             
    (a) The unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2020 and 2019 have been derived from the reviewed financial statements but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.



    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases. The Company is advancing an emerging clinical-stage pipeline of innovative therapies that address unmet patient needs within rare pediatric and orphan diseases. The Company's pediatric rare disease pipeline includes CERC-801, CERC-802 and CERC-803 ("CERC-800 compounds"), which are therapies for inherited metabolic disorders known as Congenital Disorders of Glycosylation ("CDGs"). The U.S. Food and Drug Administration ("FDA") granted Rare Pediatric Disease Designation ("RPDD") and Orphan Drug Designation ("ODD") to all three CERC-800 compounds, thus potentially qualifying the Company to receive a Priority Review Voucher ("PRV") upon approval of each new drug application ("NDA"). The Company is also developing CERC-002, CERC-006 and CERC-007. CERC-002 is an anti-LIGHT monoclonal antibody being developed for the treatment of COVID-19 acute respiratory distress syndrome ("ARDS") and Pediatric-onset Crohn's Disease. CERC-006 is a dual mTOR inhibitor being developed for the treatment of complex Lymphatic Malformations and has been granted ODD and RPDD by the FDA, thus potentially qualifying the Company to receive a PRV upon approval of a NDA. CERC-007 is an anti-IL-18 monoclonal antibody being developed for the treatment of autoimmune inflammatory diseases such as Adult Onset Stills Disease ("AOSD") and Multiple Myeloma. 

    For more information about Cerecor, please visit www.cerecor.com.

    Forward-Looking Statements

    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor's control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor's management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor's cash position and the potential need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor's filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    For media and investor inquiries

    James Harrell

    Investor Relations

    Chief Commercial Officer

    Cerecor Inc.



    623.439.2220 office

     

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  5. ROCKVILLE, Md., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a leading biopharmaceutical company focused on the development and commercialization of treatments for rare pediatric and orphan diseases, today announced that Michael F. Cola, President and Chief Executive Officer, will present at the 2020 Wedbush PacGrow Healthcare Virtual Conference on Tuesday, August 11, 2020 at 8:00 a.m. EDT.

    A live webcast of the presentation can be accessed under "News/Events" page in the Investors section of the Company's website at www.cerecor.com.

    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases. The Company is…

    ROCKVILLE, Md., Aug. 05, 2020 (GLOBE NEWSWIRE) -- Cerecor Inc. (NASDAQ:CERC), a leading biopharmaceutical company focused on the development and commercialization of treatments for rare pediatric and orphan diseases, today announced that Michael F. Cola, President and Chief Executive Officer, will present at the 2020 Wedbush PacGrow Healthcare Virtual Conference on Tuesday, August 11, 2020 at 8:00 a.m. EDT.

    A live webcast of the presentation can be accessed under "News/Events" page in the Investors section of the Company's website at www.cerecor.com.

    About Cerecor

    Cerecor is a biopharmaceutical company focused on becoming a leader in development and commercialization of treatments for rare pediatric and orphan diseases. The Company is advancing an emerging clinical-stage pipeline of innovative therapies. The Company's pediatric rare disease pipeline is led by CERC-801, CERC-802 and CERC-803 ("CERC-800 programs"), which are therapies for inborn errors of metabolism, specifically disorders known as Congenital Disorders of Glycosylation ("CDGs"). The FDA granted Rare Pediatric Disease Designation and Orphan Drug Designation ("ODD") to all three CERC-800 programs, thus potentially qualifying the Company to receive a Priority Review Voucher ("PRV") upon approval of a new drug application ("NDA"). The Company is also developing CERC-002, CERC-006 and CERC-007. CERC-007 is an anti-IL-18 monoclonal antibody being developed for the treatment of autoimmune inflammatory diseases such as Adult Onset Stills Disease ("AOSD") and Multiple Myeloma ("MM"). CERC-006 is a dual mTOR inhibitor being developed for the treatment of complex Lymphatic Malformations. CERC-002 is an anti-LIGHT monoclonal antibody being developed for the treatment of COVID-19 ARDS and Pediatric-onset Crohn's Disease.

    For more information about Cerecor, please visit www.cerecor.com.

    Forward-Looking Statements

    This press release may include forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to significant risks and uncertainties that are subject to change based on various factors (many of which are beyond Cerecor's control), which could cause actual results to differ from the forward-looking statements. Such statements may include, without limitation, statements with respect to Cerecor's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "might," "will," "could," "would," "should," "continue," "seeks," "aims," "predicts," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential," or similar expressions (including their use in the negative), or by discussions of future matters such as: the development of product candidates or products; timing and success of trial results and regulatory review; potential attributes and benefits of product candidates; and other statements that are not historical. These statements are based upon the current beliefs and expectations of Cerecor's management but are subject to significant risks and uncertainties, including: drug development costs, timing and other risks, including reliance on investigators and enrollment of patients in clinical trials, which might be slowed by the COVID-19 pandemic; regulatory risks; Cerecor's cash position and the need for it to raise additional capital; general economic and market risks and uncertainties, including those caused by the COVID-19 pandemic; and those other risks detailed in Cerecor's filings with the Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements. Except as required by applicable law, Cerecor expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Cerecor's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    For media and investor inquiries

    James Harrell,

    Investor Relations

    Chief Commercial Officer

    Cerecor Inc.



    623.439.2220 office

    Primary Logo

    View Full Article Hide Full Article
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