Cerecor (CERC) Reports In-Line Q3 EPS

Cerecor (NASDAQ: CERC) reported Q3 EPS of ($0.07), in-line with the analyst estimate of ($0.07). Revenue for the quarter came in at $5.613 million versus the consensus estimate of $4.94 million.

• Sale of Pediatric Portfolio in a Deal Valued in Excess of $43 Million
• First Patient Enrolled in Diabetic OH Trial with CERC-301
• Completed Phase 1 Healthy Volunteer Study with CERC-802
• CERC-802 IND Accepted by FDA and Received Fast Track Designation

“It’s been a transformational start to the back-half of the year for Cerecor. We continue to execute on our plan to increase shareholder value by advancing our clinical pipeline and executing transformative business development deals. CERC-802 achieved several regulatory milestones and had encouraging results from its Phase I Safety Study in Healthy Volunteers. CERC-301 final results were reported from its neurogenic Orthostatic Hypotension (nOH) trial in patients with Parkinson’s disease and is preparing to advance into a proof-of-concept trial investigating its use in Orthostatic Hypotension (OH) associated with Diabetes. Diabetic OH is a significantly larger patient population (15-fold greater than nOH with ~3 million U.S. patients) ; and there are no approved therapies. Additionally, the sale of the Pediatric Portfolio strengthens our balance sheet by providing non-dilutive capital for R&D helping us to advance CERC-801 towards NDA approval, allowing us to obtain a PRV for potential monetization.,” said Dr. Simon Pedder, Executive Chairman of the Board.

For earnings history and earnings-related data on Cerecor (CERC) click here.

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