Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Cerecor adds to up move, shares ahead 23%

Published 12/22/2017, 12:41 PM
Updated 12/22/2017, 12:41 PM
© Reuters.  Cerecor adds to up move, shares ahead 23%
  • Nano cap Cerecor (CERC +22.5%) continues its upward march on more than double normal volume. Shares have tripled since mid-November.
  • Last month, it acquired TRx Pharmaceuticals, including subsidiary Zylera Pharmaceuticals for $23M.
  • Lead candidate is CERC-301 for the adjunctive treatment of major depressive disorder.
  • At the end of September, the company had $24M in cash. Excluding the $25M it received for selling the rights to CERC-501 to Janssen, operations would have consumed ~$11.5M, on par with the same nine-month period a year ago. It used $18.9M in cash to buy TRx so its cash balance at year-end may be only $2M - 3M considering its cash consumption rate. If true, then a capital raise is in the offing.
  • Previously: Cerecor buys TRx Pharmaceuticals for up to $34M (Nov. 17)
  • Now read: Your Daily Pharma Scoop: Celgene (NASDAQ:CELG)'s Upside, Regeneron Setback, AstraZeneca Submits sNDA In Japan


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.