Cerecor Inc. (CERC) shares gained 12.23% in after-hours on Monday, July 26, 2021, and closed the trading at $3.12. in the regular trading session, CERC’s stock lost 2.46%. CERC shares have fallen 1.07% over the last 12 months, and they have moved down by 2.46% in the past week. Over the past three months, the stock has gained 6.51%, while over the past six months, it has shed 18.24%. The company has a current market of $270.10 million and its outstanding shares stood at 88.58 million.
Let’s have a brief look at its recent news.
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Positive phase 1b results for CERC-002
On July 26, 2021, Cerecor Inc announced positive initial results from a Phase 1b proof-of-concept study evaluating CERC-002, an investigational first-in-class fully human anti-LIGHT (tumour necrosis factor superfamily member 14 (TNFSF14)) monoclonal antibody, in adult patients with moderate to severe Crohn’s disease (CD).
What are the results?
- Positive results for a low-dose cohort of CERC-002 (1.0 mg/kg) in moderate to severe Crohn’s disease patients who had previously failed three or more lines of biologic therapies, including anti-TNF alpha treatments
- Mean reduction in LIGHT levels of approximately 80% compared to baseline signify a dramatic and rapid reduction of LIGHT levels correlating to the pharmacodynamic effect of CERC-002
- Clinically meaningful endoscopic improvement in 75% (3/4) of subjects, as determined by colonoscopy (SES-CD score)
- CERC-002 was well tolerated with no drug-related severe adverse events
- Cohort 2 (3.0 mg/kg dose) fully enrolled; complete data anticipated in 2H21
- Promising initial results support expansion to patients with moderate to severe ulcerative colitis refractory to anti-TNF alpha therapies
- The Company believes this second positive proof-of-concept study with CERC-002 further validates the LIGHT mechanism of action in inflammatory diseases
CERC agreement with Sanford Burnham Prebys
On June 23, 2021, Cerecor Inc. entered into an exclusive license agreement with Sanford Burnham Prebys for the worldwide development and commercialization of an immune checkpoint program. The acquisition further enhances the Company’s development pipeline of novel biologics that address immunology and immuno-oncology targets.
CERC debt financing agreement with Horizon Technology Finance
On June 07, 2021, Cerecor Inc entered into a debt financing agreement with Horizon Technology Finance Corporation to provide up to $35.0 million in term loans.
Participation in recent investor conferences
- Cerecor Inc recently participated at Jefferies Virtual Healthcare Conference which was held on Wednesday, June 2, 2021.
- Cerecor also took part in Oppenheimer Rare & Orphan Disease Summit
which was held on Friday, May 21, 2021, and had only 1×1 meetings with the investors.
- The company was also present at the 2021 RBC Capital Markets Global Healthcare Virtual Conference which was held on Tuesday, May 18, 2021.
The CERC stock went up in the after-markets due to the Positive phase 1b results for CERC-002 which were announced yesterday. CERC stock can further surge on Tuesday as well.