|Over a month ago|
Cerecor divests non-core neurology pipeline assets to Alto Neuroscience, ES » 07:3306/2306/23/21
Cerecor announces that it…
Cerecor announces that it has divested its non-core neurology pipeline assets to Alto Neuroscience and ES Therapeutics, respectively. The company previously disclosed its intentions to explore strategic alternatives for these neurology pipeline assets, which are non-core to the company's business, and focus on developing innovative therapies in areas of high unmet need within the fields of immunology, immuno-oncology, and rare genetic disorders. As part of the divestitures, Cerecor will receive undisclosed initial payments and is eligible to receive additional payments upon achievement of specified development, regulatory and sales-based milestones. Cerecor is also entitled to royalty payments based on net sales of CERC-301.
Cerecor licenses immune checkpoint program from Sanford Burnham Prebys » 07:3306/2306/23/21
Cerecor announced that it…
Cerecor announced that it has entered into an exclusive license agreement with Sanford Burnham Prebys for the worldwide development and commercialization of an immune checkpoint program. The acquisition further enhances the company's development pipeline of novel biologics that address immunology and immuno-oncology targets. Under the terms of the agreement, Sanford Burnham Prebys will receive an up-front payment from Cerecor and is also eligible to receive additional payments based on achievement of development, regulatory and commercial milestones, sales-based royalties and a share of sublicensing income.
Cerecor enters $35M debt financing agreement with Horizon Technology » 07:2406/0706/07/21
Cerecor Inc. (CERC)…
Cerecor Inc. (CERC) announced that it has entered into a debt financing agreement led by Horizon Technology Finance Corporation (HRZN) to provide up to $35.0 million in term loans. $20 million of the $35 million loan was funded upon closing. The remaining $15 million may be funded upon Cerecor achieving certain predetermined milestones. Each advance of the loan will be repaid in 42 monthly payments consisting of 18 monthly payments of interest only, followed by 24 monthly payments of principal and accrued interest, and will be payable monthly in arrears. The interest-only period may be extended to 24 months contingent upon Cerecor achieving certain milestones. In connection with the financing, Cerecor issued Horizon warrants to purchase up to 403,844 of its common shares at an exercise price of $2.60 per share. Proceeds will be used to support the ongoing clinical development of key investigational product candidates within its pipeline and for general working capital purposes.
Cerecor initiated with an Overweight at Cantor Fitzgerald » 06:4906/0406/04/21
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Louise Chen initiated coverage of Cerecor with an Overweight rating and $7 price target. The peak sales potential of Cerecor's pipeline of rare and orphan diseases is underappreciated, Chen tells investors in a research note, adding that she believes upwards earnings revision, driven by pipeline advancements, should move the stock higher,
Oppenheimer to hold a virtual summit » 09:3805/2105/21/21
BMRN, CATB, CERC, CLRB, CMMB, CRBP, DCTH, ELOX, MGTX, MITO, PRAX, SBBP, SLNO, SVRA, TARA
Rare & Orphan Disease…
Rare & Orphan Disease Virtual Summit to be held on May 21.
Cerecor reports Q1 EPS (32c), consensus (19c) » 07:1305/1305/13/21
Reports Q1 revenue…
Reports Q1 revenue $473,000, consensus $3.78M. "It has been a productive start to the year," said Mike Cola, Chief Executive Officer of Cerecor. "Over the course of 2021, we anticipate multiple data readouts, including CERC-007 in multiple myeloma and adult onset Still's disease and CERC-006 in complex lymphatic malformations, that will demonstrate significant progress in developing treatments for immunology, oncology, and rare genetic disorders."
Cerecor announces FDA granted fast track designation for CERC-002 for COVID-19 » 07:1505/1105/11/21
Cerecor announced that…
Cerecor announced that the Food and Drug Administration has granted Fast Track designation to CERC-002 for treatment of hospitalized patients with COVID-19. CERC-002 is a first-in-class fully human monoclonal antibody targeting LIGHT. Fast Track designation is granted to drugs being developed for the treatment of serious or life-threatening diseases or conditions where there is an unmet medical need. Sponsors of drugs that receive Fast Track designation have the opportunity for more frequent interactions with the FDA review team throughout the development program. Under Fast Track designation, a Biologic License Application for CERC-002 is eligible for both rolling submission and priority review.
Cerecor doses first patient in Phase 1b proof-of-concept trial of CERC-007 » 07:2005/0505/05/21
Cerecor announced that it…
Cerecor announced that it has dosed its first patient in a Phase 1b open-label dose-escalation clinical trial of CERC-007 in patients with adult onset Still's disease, or AOSD. The Phase 1b clinical trial is a global multi-center, open-label trial of CERC-007 that will enroll approximately 12 subjects with active adult onset Still's disease. The primary objective of the study will be to determine the safety and tolerability of CERC-007 in AOSD patients. Key secondary endpoints include assessing pharmacokinetic profile of CERC-007 and determining the effect of CERC-007 on systemic clinical manifestations and systemic markers of inflammation in subjects with AOSD. The company anticipates initial data to be reported in the third quarter of 2021.
|Over a quarter ago|
Cerecor upgraded to Buy from Hold at Maxim » 07:4604/2104/21/21
Maxim analyst Jason…
Maxim analyst Jason McCarthy upgraded Cerecor to Buy from Hold with a $7 price target. The company continues to make significant progress with CERC-002 as data emerged in early March and was then followed by a licensing agreement with Kyowa Kiring that continues to support the potential of this antibody in inflammatory-related conditions - most advanced of which is COVRD-related ARDS, the analyst tells investors in a research note. McCarthy further cites Cerecor other key asset - CERC-007 targeting IL-18 and initially being developed for multiple myeloma - stating that it should stand out as a differentiating factor in a "crowded space".
Cerecor upgraded to Buy from Hold at Maxim » 07:4004/2104/21/21
Maxim analyst Jason…
Maxim analyst Jason McCarthy upgraded Cerecor to Buy from Hold with a $7 price target.