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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 announced a public offering of 14,000,000 shares at $25.00 each, expected to yield approximately $350 million in gross proceeds. The closing is anticipated on July 7, 2021, contingent upon customary conditions. Underwriters have a 30-day option to buy an additional 2,100,000 shares. The offering aims to support the company's neuroscience initiatives, which target various diseases, including Parkinson's and schizophrenia. Major banks, including J.P. Morgan and Goldman Sachs, are managing the offering.
Cerevel Therapeutics (Nasdaq: CERE) has initiated an underwritten public offering of 14,000,000 shares of its common stock, with a potential 30-day option for underwriters to purchase an additional 2,100,000 shares. The offering is contingent on market conditions and no assurance can be provided regarding its completion. J.P. Morgan, Goldman Sachs, Jefferies, and Stifel serve as joint book-running managers. A registration statement was filed with the SEC but remains effective. The funds raised will potentially support Cerevel's pipeline in neuroscience therapies targeting conditions like Parkinson's and schizophrenia.
Cerevel Therapeutics announced positive Phase 1b trial results for CVL-231, a potential treatment for schizophrenia. Both 30 mg once-daily and 20 mg twice-daily doses significantly improved PANSS total scores by 12.7 and 11.1 points, respectively, compared to placebo (p=0.023 and p=0.047). The trial showed a good safety profile, with adverse events similar to placebo. Cerevel plans to advance CVL-231 to Phase 2 development and explore its potential in dementia-related psychosis. This breakthrough could lead to a new class of antipsychotic medications.
Cerevel Therapeutics announced that the FDA has granted Fast Track designation to CVL-871, a D1/D5 partial agonist, aimed at treating dementia-related apathy. This designation facilitates early communication with the FDA, potentially leading to a faster review process. Dementia-related apathy is a significant issue affecting approximately 50% of dementia patients, leading to decreased quality of life and increased caregiver burden. Cerevel plans to initiate a Phase 2a exploratory trial for CVL-871 soon, with data anticipated in the second half of 2022.
Cerevel Therapeutics, listed on Nasdaq as CERE, announced participation in two key virtual investor conferences in June 2021. The first event is the Jefferies Virtual Healthcare Conference on June 3, featuring a fireside chat at 9:30 a.m. EDT. The second event is the Goldman Sachs 42nd Annual Global Healthcare Conference on June 9, with a fireside chat scheduled for 11:20 a.m. EDT. Live audio webcasts with CEO Tony Coles will be available on the company’s investor relations website.
Cerevel Therapeutics (CERE) announced a strategic non-dilutive financing of $125 million aimed at supporting its lead asset, tavapadon, currently in Phase 3 trials for Parkinson's disease. The company reported a cash position of $343.3 million as of March 31, 2021, significantly up from $47.5 million year-over-year. Research and development expenses rose to $36.6 million, compared to $27.0 million the previous year, reflecting ongoing clinical trial commitments. Key trial data for CVL-231 in schizophrenia is expected mid-2021, while acute anxiety data for darigabat is anticipated in Q4 2021.
Cerevel Therapeutics (Nasdaq: CERE) announced the appointment of Scott M. Akamine as chief legal officer, effective May 24, 2021. Akamine brings extensive experience in healthcare and biopharmaceutical sectors, having previously served at AEON Biopharma, where he managed legal, administrative, and compliance functions. CEO Tony Coles emphasized Akamine's strong legal expertise as vital for the company's growth trajectory in neuroscience therapies. Cerevel is focused on innovative treatments for conditions like Parkinson’s disease and schizophrenia, supported by a diverse pipeline of investigational therapies.
Cerevel Therapeutics (Nasdaq: CERE) will announce its Q1 2021 financial results on May 17, 2021, before market opening. A conference call is scheduled for the same day at 8:00 a.m. EDT, accessible via domestic and international dial-ins. The company's diversified pipeline includes five clinical-stage investigational therapies targeting neuroscience diseases such as Parkinson's and epilepsy. Cerevel aims to advance its research and development while exploring new modalities through collaboration and potential acquisitions.
Cerevel Therapeutics announces the appointment of Abraham N. Ceesay as president, effective May 3, 2021. Ceesay, with nearly two decades of leadership in biopharmaceuticals, previously served as CEO of Tiburio Therapeutics. His role will focus on enhancing Cerevel's commercial capabilities and overseeing corporate strategy and business development. Cerevel aims to tackle neuroscience diseases such as Parkinson’s and epilepsy with a pipeline of five clinical-stage therapies. The leadership change is expected to strengthen the company’s position in the neuroscience sector.
Cerevel Therapeutics has secured up to $125 million in non-dilutive funding from NovaQuest and Bain Capital to finance the Phase 3 development of tavapadon for Parkinson's disease, enabling a planned NDA submission. The funding, received in four installments over four years, will not dilute existing shareholder equity. Cerevel retains significant upside potential from tavapadon sales and holds full worldwide rights. Preliminary data from ongoing TEMPO trials is anticipated in the first half of 2023, extending the company's cash runway into 2024.
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