Cerevel Therapeutics Hldng Stock Price, News & Analysis

Cerevel Therapeutics Holdings, Inc. (formerly Nasdaq: CERE) was a biopharmaceutical company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases. The company focused on discovering and developing investigational therapies for a range of neurological and psychiatric conditions. According to multiple company communications, Cerevel combined deep expertise in neurocircuitry with a focus on targeted receptor subtype selectivity and a differentiated approach to pharmacology to build its pipeline. Cerevel was headquartered in Cambridge, Massachusetts.

Cerevel developed a diversified pipeline of clinical-stage and preclinical product candidates with potential applications in schizophrenia, Alzheimer’s disease psychosis, epilepsy, panic disorder, and Parkinson’s disease. Its programs included several receptor-targeted small molecules designed to modulate specific pathways in the central nervous system. The company described five clinical-stage investigational therapies and several preclinical compounds in development across these neuroscience indications.

Acquisition by AbbVie

On December 6, 2023, AbbVie Inc. and Cerevel Therapeutics announced a definitive agreement under which AbbVie would acquire Cerevel. Under the terms of the transaction, AbbVie agreed to acquire all outstanding shares of Cerevel for $45.00 per share in cash, valuing Cerevel at a total equity value of approximately $8.7 billion. The boards of directors of both companies approved the transaction, which was expected to close in the middle of 2024, subject to shareholder and regulatory approvals and other customary closing conditions.

On August 1, 2024, AbbVie announced that it had completed its acquisition of Cerevel Therapeutics. With the completion of the acquisition, Cerevel became part of AbbVie, and AbbVie stated that Cerevel’s common stock was expected to cease trading on the Nasdaq stock exchange prior to market open on August 1, 2024. AbbVie described Cerevel as a strong strategic fit that complements AbbVie’s existing neuroscience portfolio in psychiatry, migraine, Parkinson’s disease and other neurological and psychiatric disorders.

Neuroscience Pipeline and Key Programs

Cerevel’s pipeline, as described in its public communications prior to the acquisition, included multiple clinical-stage assets targeting specific receptor systems in the brain:

• Emraclidine: An M4-selective positive allosteric modulator (PAM) in development for schizophrenia and Alzheimer’s disease psychosis. Cerevel conducted two placebo-controlled Phase 2 trials in schizophrenia (EMPOWER-1 and EMPOWER-2) and a 52-week open-label safety extension (EMPOWER-3). The company also initiated a Phase 1 multiple ascending dose trial in elderly healthy volunteers to support development in Alzheimer’s disease psychosis, and reported that the U.S. Food and Drug Administration had granted Fast Track designation for emraclidine for hallucinations and delusions associated with Alzheimer’s disease psychosis.
• Tavapadon: A D1/D5 partial agonist in Phase 3 development for the treatment of Parkinson’s disease. Cerevel described tavapadon as having the potential to be a first-in-class D1/D5 selective partial agonist for Parkinson’s disease, studied both as monotherapy and as adjunctive treatment to levodopa. The Phase 3 TEMPO clinical development program included two monotherapy trials (TEMPO-1 and TEMPO-2), one adjunctive trial (TEMPO-3), and an open-label extension (TEMPO-4).
• Darigabat: An α2/3/5-selective GABAA receptor PAM under development for epilepsy and panic disorder. Cerevel conducted the REALIZE Phase 2 proof-of-concept trial in focal epilepsy, with a corresponding open-label safety extension, and initiated the ADAPT Phase 2 proof-of-concept trial in panic disorder.
• CVL-871: A D1/D5 partial agonist in a Phase 2a exploratory trial for treatment of dementia-related apathy.
• CVL-354: A selective kappa opioid receptor antagonist (KORA) in development for major depressive disorder and substance use disorder.

In addition to these lead programs, Cerevel reported early clinical and discovery-stage efforts, including a selective M4 agonist program for psychiatric and neurological indications and a selective PDE4 inhibitor (PDE4D-sparing) program for psychiatric, neuroinflammatory and other disorders.

Therapeutic Focus Areas

Cerevel’s work targeted several major neuroscience diseases:

• Schizophrenia and other psychiatric conditions, through emraclidine and other receptor-targeted candidates.
• Parkinson’s disease, through tavapadon and related D1/D5 receptor agonist approaches, including both monotherapy and adjunctive treatment strategies.
• Epilepsy and panic disorder, through darigabat and its modulation of specific GABAA receptor subtypes.
• Alzheimer’s disease psychosis and dementia-related apathy, through emraclidine and CVL-871.
• Mood disorders and major depressive disorder, through CVL-354 and other early-stage programs.

AbbVie highlighted that Cerevel’s clinical-stage assets, including emraclidine, tavapadon, CVL-354 and darigabat, are complementary to AbbVie’s existing neuroscience portfolio and may address areas of significant unmet need in psychiatric and neurological disorders.

Business Model and Operations

Based on its public disclosures, Cerevel operated as a clinical-stage biopharmaceutical company. It generated value by advancing a portfolio of investigational neuroscience therapies through clinical development, with the goal of obtaining regulatory approvals in multiple indications. The company emphasized its deep understanding of neurocircuitry and receptor subtype selectivity as a foundation for its research and development programs. Cerevel also referenced internal research efforts, external collaborations and potential acquisitions as avenues to explore new modalities and expand its pipeline.

As a publicly traded company prior to its acquisition, Cerevel raised capital through equity offerings. For example, in October 2023 the company announced the pricing of a public offering of common stock, stating that the net proceeds were expected to support planned data readouts and fund operations into 2026.

Status as a Former Public Company

Following the completion of AbbVie’s acquisition on August 1, 2024, Cerevel Therapeutics became part of AbbVie and its common stock was expected to cease trading on Nasdaq. As a result, the CERE ticker represents a former standalone public company whose neuroscience assets and operations have been integrated into AbbVie’s broader neuroscience franchise. Historical information about Cerevel’s programs, trials and corporate activities remains relevant for understanding the origin and development of these assets within AbbVie’s pipeline.

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