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CERC

Cerecor

$3.46 /

+0.02 (+0.58%)

, AYTU

Aytu BioScience

$1.03 /

-0.01 (-0.96%)

06:34
11/04/19
11/04
06:34
11/04/19
06:34

Cerecor closes sale of pediatric portfolio to Aytu BioScience for $43M

Cerecor (CERC) announced that it has closed the sale of its pediatric portfolio of assets with AYTU BioScience (AYTU) in a deal valued in excess of $43M including the assumption of various liabilities and product-related obligations. The consideration includes a combination of cash and Aytu preferred stock totaling $17M and the assumption of Cerecor's outstanding payment obligations payable to Deerfield CSF in the amount of $15M and certain other liabilities in excess of $11M, providing non-dilutive cash generation for Cerecor. The funds from the transaction, coupled with the removal of the aforementioned short-term obligations, extend the runway toward NDA submission of CERC-801 and its associated Priority Review Voucher. Overall deal valued in excess of $43M as a composite of $17M in cash and preferred stock, the assumption of the Deerfield Note of $15M, the assignment of the existing royalty obligations coupled with various commercial accruals of $11M. Cash has been paid, and the Shares were issued at closing; the Shares are subject to customary lock-ups and are convertible to common shares following Aytu stockholder approval and immediately prior to their sale or distribution.

CERC

Cerecor

$3.46 /

+0.02 (+0.58%)

AYTU

Aytu BioScience

$1.03 /

-0.01 (-0.96%)

CERC Cerecor
$3.46 /

+0.02 (+0.58%)

12/20/18 LTCO
Cerecor initiated with a Buy at Ladenburg
04/01/19 HCWC
Cerecor initiated with a Buy at H.C. Wainwright
04/09/19 MAXM
Cerecor initiated with a Buy at Maxim
AYTU Aytu BioScience
$1.03 /

-0.01 (-0.96%)

09/18/19 LTCO
Aytu BioScience price target raised to $4.75 from $4.00 at Ladenburg

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