Cerecor Inc. Announces Proposed Public Offering of Common Stock
June 08 2020 - 4:01PM
Cerecor Inc. (Nasdaq: CERC), a biopharmaceutical company focused on
becoming a leader in development and commercialization of
treatments for rare pediatric and orphan diseases, announced today
that it intends to offer for sale shares of its common stock in an
underwritten public offering. Cerecor intends to grant the
underwriters a 30-day option to purchase additional shares of its
common stock sold in the offering, to cover over-allotments in the
sales of the shares, if any. All of the shares of common stock will
be offered by Cerecor. The offering is subject to market and other
conditions, and there can be no assurance as to whether or when the
offering may be completed, or as to the actual size or terms of the
offering.
Oppenheimer & Co. Inc. is acting as the sole
book-running manager for the offering.
Cerecor intends to use the net proceeds of the
offering for general corporate purposes and working capital,
primarily to support the ongoing clinical development of key assets
within its pipeline and for general and administrative
expenses.
This offering by Cerecor is being made pursuant
to an effective shelf registration statement on Form S-3 (File No.
333-233978), previously filed with the U.S. Securities and Exchange
Commission (the “SEC”) on September 27, 2019 and declared effective
on October 24, 2019, and the accompanying prospectus contained
therein. The offering of the shares of common stock will be made by
means of a prospectus, including a prospectus supplement, forming a
part of the effective registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to
and describing the terms of the offering will be filed with the
SEC, and will be available on the SEC’s website at
http://www.sec.gov or by contacting Oppenheimer & Co. Inc. at
85 Broad Street, 26th Floor, New York, NY 10004, Attention: Equity
Syndicate Prospectus Department, by e-mail at
equityprospectus@opco.com or by calling (212) 667-8055.
Before investing in the offering, you should
read in their entirety the preliminary prospectus supplement and
the accompanying prospectus and the other documents that Cerecor
has filed with the SEC that are incorporated by reference in the
preliminary prospectus supplement and the accompanying prospectus,
which provide more information about Cerecor and the offering.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Cerecor Inc.
Cerecor is a biopharmaceutical company focused
on becoming a leader in development and commercialization of
treatments for rare pediatric and orphan diseases. The Company is
advancing an emerging clinical-stage pipeline of innovative
therapies. The Company’s pediatric rare disease pipeline is led by
CERC-801, CERC-802 and CERC-803 (“CERC-800 programs”), which are
therapies for inborn errors of metabolism, specifically disorders
known as Congenital Disorders of Glycosylation (”CDGs”). The FDA
granted Rare Pediatric Disease Designation and Orphan Drug
Designation (“ODD”) to all three CERC-800 programs, thus
potentially qualifying the Company to receive a Priority Review
Voucher (“PRV”) upon approval of a new drug application (“NDA”).
The Company is also developing CERC-002, CERC-006 and CERC-007.
CERC-002 is an anti-LIGHT monoclonal antibody being developed for
the treatment of COVID-19 ARDS and Pediatric-onset Crohn’s Disease.
CERC-006 is a dual mTOR inhibitor being developed for the treatment
of complex Lymphatic Malformations. CERC-007 is an anti-IL-18
monoclonal antibody being developed for the treatment of autoimmune
inflammatory diseases such as Adult Onset Stills Disease (“AOSD”)
and Multiple Myeloma (“MM”).
For more information about Cerecor, please visit
www.cerecor.com.
Forward-Looking Statements
This press release may include forward-looking
statements made pursuant to the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are statements that
are not historical facts. Such forward-looking statements are
subject to significant risks and uncertainties that are subject to
change based on various factors (many of which are beyond Cerecor’s
control), which could cause actual results to differ from the
forward-looking statements. Such statements may include, without
limitation, statements with respect to Cerecor’s plans, objectives,
projections, expectations and intentions and other statements
identified by words such as “projects,” “may,” “might,” “will,”
“could,” “would,” “should,” “continue,” “seeks,” “aims,”
“predicts,” “believes,” “expects,” “anticipates,” “estimates,”
“intends,” “plans,” “potential,” or similar expressions (including
their use in the negative), or by discussions of future matters
such as: the completion of the public offering, the development of
product candidates or products; timing and success of trial results
and regulatory review; potential attributes and benefits of product
candidates; and other statements that are not historical. These
statements are based upon the current beliefs and expectations of
Cerecor’s management but are subject to significant risks and
uncertainties, including: drug development costs, timing and other
risks, including reliance on investigators and enrollment of
patients in clinical trials, which might be slowed by the COVID-19
pandemic; regulatory risks; Cerecor's cash position and the need
for it to raise additional capital; general economic and market
risks and uncertainties, including those caused by the COVID-19
pandemic; and those other risks detailed in Cerecor’s filings with
the Securities and Exchange Commission. Actual results may differ
from those set forth in the forward-looking statements. Except as
required by applicable law, Cerecor expressly disclaims any
obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in Cerecor’s expectations with respect thereto
or any change in events, conditions or circumstances on which any
statement is based.
For media and investor inquiries
James HarrellInvestor RelationsChief Commercial OfficerCerecor
Inc.jharrell@cerecor.com 623.439.2220 office
Cerecor (NASDAQ:CERC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cerecor (NASDAQ:CERC)
Historical Stock Chart
From Jul 2023 to Jul 2024