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ROCKVILLE, Md., Aug. 5, 2020 – Cerecor (NASDAQ: CERC) announced that CEO Michael F. Cola will present at the 2020 Wedbush PacGrow Healthcare Virtual Conference on August 11, 2020, at 8:00 a.m. EDT. Investors can access the live webcast via the company's website.
Cerecor, focused on treating rare pediatric and orphan diseases, is advancing its clinical pipeline, including CERC-801, CERC-802, and CERC-803 for Congenital Disorders of Glycosylation, all with Rare Pediatric Disease and Orphan Drug Designations from the FDA, potentially qualifying for a Priority Review Voucher.
Cerecor Inc. (NASDAQ: CERC) has received Orphan Drug Designation from the FDA for its drug CERC-006, aimed at treating lymphatic malformations (LM), a rare disease affecting 30,000 to 60,000 Americans. LM can cause severe fluid accumulation and is currently untreated by approved medications. CERC-006, a dual mTOR inhibitor, is being developed to improve patient outcomes significantly. The FDA's designation allows for seven years of market exclusivity post-approval and other benefits, as Cerecor plans to initiate clinical trials in 2021.
Cerecor Inc. (NASDAQ: CERC) announced the enrollment of the first patient in a proof-of-concept trial for CERC-002, an anti-LIGHT monoclonal antibody, targeting COVID-19 cytokine storm-induced ARDS. This randomized, double-blind study aims to show that CERC-002 reduces respiratory failure and mortality compared to standard care, enrolling around 82 hospitalized patients. Promising earlier biomarker studies indicated elevated LIGHT levels link to severity and mortality in COVID-19 patients. Top-line results are anticipated in Q4 2020.
Cerecor Inc. (Nasdaq: CERC) announced the closing of its underwritten offering of 15,180,000 shares at $2.50 each, raising approximately $35.4 million in net proceeds after expenses. The funds will support the development of its clinical pipeline focused on rare pediatric diseases and general corporate purposes. Insiders, including company officers, also participated in the offering. This follows an effective registration statement filed with the SEC. Cerecor's pipeline includes therapies for metabolic disorders and conditions like COVID-19 ARDS.
Cerecor Inc. (Nasdaq: CERC) has entered an underwriting agreement with Oppenheimer & Co. Inc. for a public offering of 13,200,000 shares at $2.50 per share. The offering, expected to close around June 11, 2020, could yield gross proceeds of approximately $33 million, or $37.95 million if the underwriter's option for an additional 1,980,000 shares is exercised. Funds will support ongoing clinical development and general corporate purposes. The company’s pipeline includes therapies for rare pediatric diseases, with all key programs receiving FDA’s Rare Pediatric Disease and Orphan Drug Designations.
Cerecor Inc. (Nasdaq: CERC) announced a public offering of its common stock, with underwriters granted a 30-day option to purchase additional shares. The offering, subject to market conditions, aims to raise funds for general corporate purposes and ongoing clinical development of its pipeline, particularly its pediatric rare disease therapies. The offering relies on a previously filed shelf registration statement with the SEC. Oppenheimer & Co. Inc. is the sole book-running manager for this offering.
Cerecor (NASDAQ: CERC) and Myriad Genetics announced findings from a biomarker study indicating high levels of LIGHT cytokine in hospitalized COVID-19 patients, particularly those over 60.
The study showed a strong correlation between elevated LIGHT levels and mortality (82%) in older patients, suggesting that CERC-002, an anti-LIGHT monoclonal antibody, may reduce severe ARDS and mortality associated with cytokine storms.
Conducted with 47 COVID-19 patients, the study underscores the need for effective treatments in a high unmet need area.
Cerecor (NASDAQ: CERC) reported significant enhancements to its cash position and balance sheet following the merger with Aevi Genomic Medicine. The company expects to generate $15 million in cash proceeds from a CARES Act income tax receivable, of which $12.8 million is already realized. For Q1 2020, Cerecor reported a net loss of $21.1 million, largely due to $25.5 million in in-process research and development costs from the merger. The company's total assets increased to $44.1 million, up from $36.1 million at the end of 2019, fueled by cash growth from direct offerings and private placements.
