Cerecor Inc. Announces Proposed Public Offering of Common Stock and Pre-Funded Warrants
08 January 2021 - 8:01AM
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 and,
to a certain investor in lieu thereof, pre-funded warrants to
purchase shares of 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
proposed offering of up to 15% of the aggregate number of shares of
common stock plus the shares of common stock underlying the
pre-funded warrants being offered in the offering. All of the
securities 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.
Jefferies is acting as the sole book-running
manager for the offering and Oppenheimer is acting as lead 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 securities 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 Jefferies LLC at 520
Madison Avenue, 2nd Floor, New York, NY 10022, Attention: Equity
Syndicate Prospectus Department, by e-mail at
prospectus_department@jefferies.com or by calling (877)
547-6340.
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 the development and commercialization of
treatments for rare and orphan diseases. The company is advancing
its clinical-stage pipeline of innovative therapies that address
unmet patient needs within rare and orphan diseases. The company's
rare disease pipeline includes CERC-801, CERC-802 and CERC-803,
which are in development for congenital disorders of glycosylation
and CERC-006, an oral mTORc1/c2 inhibitor in development for the
treatment of complex lymphatic malformations. The company is also
developing two monoclonal antibodies, CERC-002, and CERC-007.
CERC-002 targets the cytokine LIGHT (TNFSF14) and is in clinical
development for treatment of severe pediatric-onset Crohn's
disease, and COVID-19 acute respiratory distress syndrome. CERC-007
targets the cytokine IL-18 and is in clinical development for the
treatment of Still’s disease (adult-onset Still’s disease (AOSD)
and systemic juvenile idiopathic arthritis (sJIA)), and multiple
myeloma (MM). CERC-006, 801, 802 and 803 have all received Orphan
Drug Designation and Rare Pediatric Disease Designation, which
makes all four eligible for a priority review voucher upon FDA
approval.
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
potential 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.com623.439.2220 office
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