Welcome to our dedicated page for Cerevel Therapeutics Holdings news (Ticker: CERE), a resource for investors and traders seeking the latest updates and insights on Cerevel Therapeutics Holdings stock.
Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) is a biopharmaceutical company focused on developing new therapies to treat disorders of the central nervous system (CNS). Formed in 2018 through a partnership between Bain Capital and Pfizer, Cerevel is headquartered in Cambridge, Massachusetts. The company is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases using a differentiated approach that combines expertise in neurocircuitry with a focus on receptor selectivity.
Cerevel's pipeline includes five clinical-stage investigational therapies and several preclinical compounds targeting a range of CNS disorders, such as Parkinson’s disease, Alzheimer’s disease psychosis, epilepsy, schizophrenia, and addiction. The company’s lead programs include:
- Emraclidine: An M4-selective positive allosteric modulator (PAM) in development for schizophrenia and Alzheimer’s disease psychosis.
- Darigabat: An α2/3/5-selective GABAA receptor PAM currently under development for epilepsy and panic disorder.
- Tavapadon: A D1/D5 partial agonist currently in Phase 3 for the treatment of Parkinson’s disease.
- CVL-871: A D1/D5 partial agonist in development for treatment of dementia-related apathy.
In recent news, Cerevel announced the pricing of its underwritten public offering, where it successfully raised approximately $450 million. Additionally, Cerevel reported positive topline results from its pivotal Phase 3 TEMPO-3 trial for tavapadon as an adjunctive therapy to levodopa in Parkinson’s disease. The company is also advancing its early clinical pipeline and discovery programs while exploring new modalities through internal research, external collaborations, or potential acquisitions.
On December 6, 2023, Cerevel announced its acquisition by AbbVie Inc. (NYSE: ABBV). The transaction, valued at approximately $8.7 billion, aims to bolster AbbVie’s neuroscience portfolio with Cerevel’s robust pipeline of therapies. The acquisition is expected to close by mid-2024, subject to regulatory approvals and other customary conditions.
Cerevel continues to drive forward with its mission, leveraging its deep understanding of neurocircuitry and targeted receptor subtype selectivity to develop innovative treatments for neuroscience diseases, ultimately aiming to improve patient outcomes and quality of life.
AbbVie (NYSE: ABBV) has completed its acquisition of Cerevel Therapeutics (NASDAQ: CERE), strengthening its neuroscience portfolio. The acquisition brings multiple clinical-stage assets, including emraclidine, a potential best-in-class antipsychotic for schizophrenia, and tavapadon, a first-in-class treatment for Parkinson's disease. AbbVie expects the acquisition to be accretive to adjusted diluted EPS beginning in 2030.
The company reaffirms its 2024 full-year adjusted diluted EPS guidance range of $10.71-$10.91, which includes a $0.19 per share dilutive impact from the Cerevel acquisition. AbbVie also maintains its third-quarter adjusted diluted EPS guidance range of $2.92-$2.96. The acquisition is expected to contribute to AbbVie's long-term performance and complement its existing neuroscience pipeline.
BFA LLP has announced an investigation into the merger between Cerevel Therapeutics (NASDAQ: CERE) and AbbVie. Under the merger terms, AbbVie will buy all outstanding shares of Cerevel for $45.00 per share in cash, valuing the company at approximately $8.7 billion. This transaction, approved by the boards of directors of both companies, is set to close in mid-2024. BFA LLP suspects that Cerevel's board was conflicted and agreed to an unfair price for shareholders. Shareholders may have legal options and can obtain more information or legal representation on a contingency fee basis by visiting BFA's website or contacting them directly.
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