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.
Cerevel Therapeutics (Nasdaq: CERE) reported significant updates on its pipeline and third-quarter financial results for 2021. The company expects Phase 1 data for darigabat in acute anxiety by Q1 2022 and has submitted additional PK/PD data for CVL-231 in schizophrenia for presentation at the ACNP meeting. Cerevel's cash reserves stand at $669.7 million, sufficient to fund operations into 2024. R&D expenses rose to $114 million year-to-date, reflecting ongoing trial execution. General and administrative costs increased as well, driven by public company and personnel expenses.
Cerevel Therapeutics (Nasdaq: CERE) is set to participate in four virtual investor conferences in November and December 2021. The events include the Guggenheim 3rd Annual Neuro/Immunology Conference on November 15, followed by the Stifel 2021 Virtual Healthcare Conference on November 16, the Jefferies London Healthcare Conference on November 18, and the Evercore ISI HealthCONx Conference on December 1. Live audio webcasts of the fireside chats will be available on their investor relations website, with replays also provided.
Cerevel Therapeutics (Nasdaq: CERE) announced it will report its third quarter 2021 financial results on November 10, 2021, before U.S. markets open. Following the earnings report, management will host a conference call at 8:00 a.m. ET, accessible via phone and a live webcast on their investor website. Cerevel is focused on treating neuroscience diseases, with a diversified pipeline of five clinical-stage investigational therapies and pre-clinical compounds aimed at conditions like Parkinson’s, epilepsy, and schizophrenia.
Cerevel Therapeutics (Nasdaq: CERE) hosted a live R&D event on October 7, 2021, discussing key pipeline programs, including CVL-871 for dementia-related apathy and CVL-231 for schizophrenia. CVL-871 is in a Phase 2a trial, with results expected in H2 2022, and has received Fast Track designation from the FDA. CVL-231 has shown positive Phase 1b trial results and will progress to a Phase 2 development program. Both programs address significant unmet needs in neuroscience, with clinical experts contributing to the discussions.
Cerevel Therapeutics has announced the resignation of Kathy Yi as CFO, effective immediately, while Mark Bodenrader steps in as interim CFO. Yi, who will assist until November 15, 2021, departs to pursue personal interests. During her tenure, the company secured significant financing and strengthened its balance sheet. Cerevel focuses on neuroscience diseases and has a pipeline that includes therapies for schizophrenia, epilepsy, and Parkinson's disease. The company is currently searching for a permanent CFO.
Cerevel Therapeutics will hold a virtual R&D event on October 7, 2021, from 10:00 to 11:30 a.m. ET. The event will focus on CVL-871, a D1/D5 partial agonist for dementia-related apathy, and provide updates on CVL-231, an M4 positive allosteric modulator for schizophrenia. CVL-871 is in a Phase 2a trial with data expected in H2 2022. CVL-231 has shown positive results from its Phase 1b trial and will enter a comprehensive Phase 2 program. Access the live webcast on the Cerevel website, with replays available post-event.
Cerevel Therapeutics (Nasdaq: CERE) announced participation in two virtual investor conferences in September 2021. The events are the Citi 16th Annual BioPharma Virtual Conference on September 8, where Chief Medical Officer Raymond Sanchez will join an expert panel, and the Morgan Stanley 19th Annual Global Healthcare Conference on September 13, featuring a fireside chat with CEO Tony Coles. Live webcasts of these discussions will be available on their investor relations website, along with replays. Cerevel focuses on neuroscience diseases, with a diversified pipeline targeting conditions like schizophrenia and Parkinson's.
Cerevel Therapeutics announced positive topline results for CVL-231 in schizophrenia following its Phase 1b trial. The trial showed a statistically significant improvement in PANSS scores. The company raised $328 million in net proceeds from a follow-on offering and redeemed outstanding public warrants, bringing total capital raised to over $800 million. Cerevel also received Fast Track designation for CVL-871 in dementia-related apathy and initiated a Phase 2a trial. The company plans a virtual R&D update on October 7, 2021, highlighting its neuroscience pipeline and financial performance.
Cerevel Therapeutics announced plans to redeem all outstanding public warrants to purchase shares of its common stock on August 30, 2021, at 5:00 p.m. ET. Each public warrant can be exercised at a price of $11.50. Unexercised warrants will become void, with holders receiving a redemption price of $0.01. The redemption follows the company meeting the performance criteria for warrant redemption with common stock prices exceeding $18.00 for twenty trading days. The company has filed a registration statement for the shares underlying the warrants.
Cerevel Therapeutics (Nasdaq: CERE) announced it will report its second quarter 2021 financial results on August 11, 2021, before U.S. markets open. A conference call is scheduled for the same day at 8:00 a.m. EDT. Cerevel focuses on neuroscience diseases, with a diversified pipeline including five clinical-stage therapies targeting conditions like Parkinson's and epilepsy. The company emphasizes its commitment to unraveling brain mysteries, advancing R&D, and potential collaborations. Investors can access more information through the company's investor website.
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