Cerecor raises $26M in a downsized IPO to fund its depression pipeline

Baltimore biotech Cerecor ($CERCU) raised $26 million in an IPO to bankroll its work on treatments for depression, issuing warrants to bring in the cash it needs. Cerecor priced 4 million units at $6.50 apiece, with each unit including one share of common stock, one warrant to purchase another share and a second warrant redeemable for a half share. With the proceeds, Cerecor is advancing three therapies for major depressive disorder, with two in Phase II and another in preclinical development. Release

Suggested Articles

Outgoing BIO Chair John Maraganore and his successor, Jeremy Levin, reflected on drug pricing, its drivers and its place in the innovation ecosystem.

The study is assessing the effect of the oral AXL inhibitor when given to elderly AML patients in combination with low-intensity chemotherapy.

The proportion of patients who had a greater than 1 g/dL increase in hemoglobin is down on GBT’s prior update but still superior to placebo.