March 30, 2017 10:16 PM ET


Company Overview of Cerecor Inc.

Company Overview

Cerecor Inc., a clinical-stage biopharmaceutical company, develops drugs to treat patients with neurological and psychiatric disorders. It develops CERC-301 that is in Phase II development stage for the adjunctive treatment of patients with major depressive disorder (MDD); CERC-501, which is in Phase II development stage for the adjunctive treatment of MDD, as well as to treat substance use disorders; and CERC-406 that is in preclinical stage to treat residual cognitive impairment symptoms in patients with MDD. The company was formerly known as Ceregen Corporation and changed its name to Cerecor Inc. in March 2011. Cerecor Inc. was founded in 2011 and is headquartered in Baltimore, Maryland.

400 East Pratt Street

Suite 606

Baltimore, MD 21202

United States

Founded in 2011

15 Employees



Key Executives for Cerecor Inc.

Chief Business Officer
Age: 60
Total Annual Compensation: $381.1K
Chief Medical Officer and Head of Regulatory Affairs
Age: 58
Total Annual Compensation: $276.8K
Scientific Advisor
Age: 59
Total Annual Compensation: $602.7K
Compensation as of Fiscal Year 2015.

Cerecor Inc. Key Developments

Cerecor Inc. Reports Audited Financial Results for the Fourth Quarter and Year Ended December 31, 2016

Cerecor Inc. announced audited financial results for the fourth quarter and year ended December 31, 2016. The company reported grants revenue of $182,000. Loss from operations was $1,686,000 compared to $3,675,000 a year ago. Net loss was $1,639,000 compared to $3,648,000 a year ago. Net loss per share of common stock, basic and diluted was $0.18 compared to $1.53 a year ago. For the year ended December 31, 2016, the company reported grants revenue of $1,153,000. Loss from operations was $16,080,000 compared to $11,010,000 a year ago. Interest expense was $464,000 compared to $793,000 a year ago. Net loss was $16,471,000 compared to $10,490,000 a year ago. Net loss per share of common stock, basic and diluted was $1.87 compared to $4.71 a year ago.

Cerecor Receives Non-Compliance Notice From Nasdaq

On February 24, 2017, Cerecor Inc. received a notice from the Nasdaq Listing Qualifications Staff (Staff) that the Company is not in compliance with Nasdaq Listing Rule 5550(a)(2) (Rule), as the closing bid price of the Company's common stock was below $1.00 for the last 30 consecutive business days. As a result, the Company was notified by the Staff that a deficiency exists. This notification has no immediate effect on the Company’s listing on the Nasdaq Stock Market or on the trading of the Company’s common stock, Class A warrants or Class B warrants (Listed Securities). In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until August 23, 2017, to regain compliance with the Rule. To regain compliance, at any time during the 180 calendar day-compliance period the closing bid price of the Company's common stock must be at least $1.00 for a minimum of ten consecutive business days. If the Company does not regain compliance with the Rule during the compliance period, it will receive written notification that its Listed Securities are subject to delisting, at which time the Company may appeal any delisting determination. The Company is presently evaluating various courses of action to regain compliance. There can be no assurance that the Company will be able to regain compliance with the Rule or will otherwise be in compliance with other Nasdaq listing criteria.

Cerecor Explores Strategic Alternatives

Cerecor Inc. (NasdaqCM:CERC) announced that it has initiated a process to explore and review a range of strategic alternatives focused on maximizing stockholder value and has engaged SunTrust Robinson Humphrey, Inc. ("SunTrust") as its exclusive financial advisor for this process. Potential strategic alternatives that may be explored or evaluated as part of this process include an acquisition, merger, business combination or other strategic transaction. Cerecor has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that this process will result in any such transaction. "The engagement of SunTrust adds to our ongoing efforts to explore various options for Cerecor," said Uli Hacksell, President and Chief Executive Officer of Cerecor.

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