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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.
Cerevel Therapeutics Holdings, Inc. (CERE) announced the pricing of a public offering of 7,250,000 shares at $35.00 per share, raising approximately $253.8 million. The offering is set to close on August 16, 2022. Additionally, Cerevel priced $300 million in convertible senior notes due 2027 in a concurrent private placement. Net proceeds from both offerings are expected to support the development of emraclidine and other pipeline programs, with $238.3 million estimated from common stock and $291.1 million from the notes.
Cerevel Therapeutics has priced a private offering of $300 million in 2.50% convertible senior notes due 2027, with an additional $45 million option for buyers. The notes, offering a conversion rate of 21.5633 shares per $1,000 principal, will mature on August 15, 2027, with semi-annual interest payments starting February 15, 2023. Concurrently, Cerevel is offering 7,250,000 shares of common stock at $35 per share, expecting net proceeds of approximately $238.3 million. Proceeds from both offerings will support the development of emraclidine and its pipeline programs.
Cerevel Therapeutics Holdings has announced a public offering of $250 million in common stock, with a potential additional $37.5 million available through underwriters. Concurrently, the company will offer $250 million in convertible senior notes due 2027. Cerevel plans to use the proceeds for the development of emraclidine and other programs, including pre-commercial planning for tavapadon. The offering is subject to market conditions, and all shares in the stock offering will be sold by Cerevel.
Cerevel Therapeutics announced a private offering of $250 million in convertible senior notes due 2027 to qualified institutional buyers. The offering includes an option for purchasers to buy an additional $37.5 million. Interest will be payable semi-annually, and noteholders can convert notes into cash or shares. Concurrently, Cerevel is offering $250 million in common stock with a similar option for underwriters. Proceeds will support the development of emraclidine and other pipeline programs, as well as general corporate purposes.
Cerevel Therapeutics reported its Q2 2022 financial results and provided updates on its pipeline, emphasizing a commitment to neuroscience therapies. The company has initiated two Phase 2 trials for emraclidine in schizophrenia, with data expected in 1H 2024. Cerevel maintains a healthy cash position of $531M, projected to support operations through 2024. Additionally, the company is advancing its drug candidates, including darigabat for epilepsy and panic disorder, and tavapadon for Parkinson’s disease. The total R&D expenditure significantly rose to $72.5M for Q2.
Cerevel Therapeutics (Nasdaq: CERE) announced it will release its second quarter 2022 financial results on August 1, 2022, before the U.S. markets open. A conference call will follow at 8:00 a.m. ET, where management will discuss the results and recent business updates. Investors can register for the call via a provided link. Cerevel, focused on neuroscience disease treatments, has a pipeline that includes five clinical-stage therapies for conditions like Parkinson’s and schizophrenia.
Cerevel Therapeutics (Nasdaq: CERE) has appointed Suneet Varma as a new board member, succeeding Morris Birnbaum, who is retiring. Varma, currently Global President of Rare Diseases at Pfizer, brings extensive experience in commercial success and leadership. He aims to support Cerevel’s mission to advance treatments for neuroscience diseases. Dr. Birnbaum, a founding board member since 2018, significantly contributed to the company’s progress. The leadership change is expected to enhance Cerevel's capabilities in tackling complex neurological conditions.
Cerevel Therapeutics, listed on Nasdaq under the ticker CERE, announced that its chairperson and CEO, Tony Coles, M.D., will speak at the Jefferies Healthcare Conference on June 8, 2022, at 10:30 am ET. The event will feature a live webcast available on the company's investor relations page, with a replay accessible after the event.
The company, focused on neuroscience diseases, has a pipeline of five clinical-stage therapies targeting conditions such as Parkinson's and schizophrenia. For more details, visit www.cerevel.com.
Cerevel Therapeutics (CERE) reported a strong cash position of $550.9 million as of March 31, 2022, bolstered by a $37.5 million risk-sharing arrangement in April 2022. The company is on track to initiate two Phase 2 trials for emraclidine in schizophrenia by mid-2022, with results expected in the first half of 2024. Positive results from the darigabat Phase 1 trial were announced, and data from its Phase 2 epilepsy trial is now anticipated in mid-2023. R&D expenses rose to $55.0 million in Q1 2022, reflecting ongoing clinical advancements.
Cerevel Therapeutics (Nasdaq: CERE) announced it will report its first quarter 2022 financial results on May 10, 2022, before U.S. markets open. Management will host a conference call at 8:00 a.m. ET to discuss these results and recent business updates. The call can be accessed domestically at (833)-665-0655 or internationally at (702)-495-1044, using conference ID 4497847. A live webcast will be available on the investors section of Cerevel’s website.
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