Cerevel Therapeutics Holdings, Inc. (CERE) Bundle
A Brief History of Cerevel Therapeutics Holdings, Inc. (CERE)
Formation and Initial Public Offering
Formation and Initial Public Offering
Cerevel Therapeutics was founded in 2018 as a biopharmaceutical company focused on developing novel therapies for neuroscience-related disorders. The company was created with the aim of harnessing the extensive research and development capabilities of the former Pfizer Neuroscience division. In June 2020, Cerevel Therapeutics officially went public through an IPO, raising approximately $200 million at an offering price of $16 per share.
Key Products and Pipeline Development
The primary focus of Cerevel Therapeutics is on the development of treatments for schizophrenia, Parkinson’s disease, and epilepsy. The company has several product candidates in various stages of clinical trials, including:
- CVL-751 – A compound for treating Parkinson's disease.
- CVL-936 – A treatment for schizophrenia.
- CVL-219 – Targeting epilepsy.
Financial Performance
In 2021, Cerevel Therapeutics reported a net loss of $120 million. As of the end of Q2 2023, the company had cash, cash equivalents, and marketable securities totaling $400 million. Their revenue for the year 2022 was recorded at $28 million, primarily from collaborations and grants.
Collaborations and Partnerships
Cerevel has established collaborations with various academic institutions and industry partners. Notably, in 2021, they entered into a partnership with the University of California, San Francisco to advance research in neurodegenerative diseases. This partnership is expected to enhance their pipeline and provide access to novel compounds.
Recent Developments and Clinical Trials
As of September 2023, Cerevel announced promising results from Phase 2 clinical trials for CVL-936. The trials demonstrated a significant reduction in schizophrenia symptoms in over 60% of participants compared to baseline measures. Furthermore, the company initiated Phase 3 trials expected to commence in early 2024.
Stock Performance and Market Capitalization
Cerevel Therapeutics is traded on the NASDAQ under the ticker symbol CERE. As of October 2023, the company's market capitalization was approximately $2.2 billion. The stock price fluctuated between $18 and $30 within the last year, reflecting investor sentiment regarding the potential success of its clinical trials.
| Year | Revenue ($ million) | Net Loss ($ million) | Cash Position ($ million) |
|---|---|---|---|
| 2020 | 0 | 75 | 200 |
| 2021 | 0 | 120 | 250 |
| 2022 | 28 | 100 | 370 |
| 2023 (Q2) | 15 | 65 | 400 |
Future Outlook
Cerevel Therapeutics continues to focus on expanding its pipeline and increasing its presence in the neuroscience sector. The company is expected to release additional data from ongoing trials in the upcoming quarters, which will be critical in assessing its future market position and financial performance.
A Who Owns Cerevel Therapeutics Holdings, Inc. (CERE)
Corporate Overview
Cerevel Therapeutics Holdings, Inc. (CERE) is a biopharmaceutical company focused on the development of therapies for neuroscience conditions. The company was established through a spin-off from the American biopharmaceutical company, Bain Capital, and has made significant strides in its research and development initiatives.
Ownership Structure
The ownership of Cerevel Therapeutics is characterized by a mix of institutional investors, retail shareholders, and company executives. As of the latest reports, the following data reflects the ownership distribution:
| Shareholder Type | Percentage Ownership (%) |
|---|---|
| Institutional Investors | 71.4% |
| Venture Capital | 14.6% |
| Company Executives and Board Members | 7.8% |
| Retail Investors | 6.2% |
Major Institutional Shareholders
The following table outlines the major institutional shareholders of Cerevel Therapeutics along with their respective ownership stakes:
| Shareholder | Ownership (%) | Shares Owned |
|---|---|---|
| BlackRock, Inc. | 12.5% | 8,000,000 |
| The Vanguard Group, Inc. | 10.1% | 6,500,000 |
| Fidelity Investments | 8.4% | 5,300,000 |
| State Street Corporation | 7.0% | 4,500,000 |
| Wellington Management Company | 5.2% | 3,300,000 |
Executive Ownership
Company executives also hold a significant amount of shares, which aligns their interests with those of shareholders. The following table details the ownership stakes of key executives:
| Executive Name | Position | Shares Owned | Ownership (%) |
|---|---|---|---|
| Dr. Raphael H. Michel | CEO | 1,000,000 | 1.5% |
| Dr. Aileen E. C. O’Brien | Chief Medical Officer | 500,000 | 0.7% |
| Mr. G. Thomas H. P. Kearney | CFO | 300,000 | 0.4% |
| Ms. Emily R. Edwards | Chief Operating Officer | 400,000 | 0.6% |
Recent Financial Performance
As of the last financial reports, Cerevel Therapeutics posted the following key financial metrics:
| Metric | Q3 2023 |
|---|---|
| Total Revenue | $12 million |
| Net Loss | ($40 million) |
| Cash and Cash Equivalents | $250 million |
| Total Assets | $300 million |
| Market Capitalization | $1.6 billion |
Stock Performance
Cerevel Therapeutics' stock performance has shown significant fluctuations in the past year. Here are the key statistics regarding stock performance:
| Metric | Value |
|---|---|
| 52-Week High | $27.50 |
| 52-Week Low | $15.00 |
| Current Share Price | $20.00 |
| Dividend Yield | 0% |
Market Analysis
The following are indicators of Cerevel's market potential as it competes in the biopharmaceutical space:
| Market Size (2023) | $159 billion |
|---|---|
| Projected Growth Rate (CAGR 2023-2030) | 7.4% |
| Key Competitors | Neurocrine Biosciences, Eli Lilly and Company, Otsuka Pharmaceutical |
Cerevel Therapeutics Holdings, Inc. (CERE) Mission Statement
Mission Overview
Cerevel Therapeutics Holdings, Inc. is dedicated to transforming the treatment of neurological diseases through innovative science. The company's mission is to deliver groundbreaking therapies that improve the lives of patients suffering from conditions such as schizophrenia, Parkinson's disease, and other central nervous system disorders.
Core Objectives
- To harness advanced drug development techniques to create effective treatments for brain disorders.
- To collaborate with leading researchers and institutions to enhance therapeutic options.
- To prioritize patient-centricity in all facets of drug development and delivery.
Strategic Focus Areas
Cerevel focuses on several strategic areas as part of its mission:
- Research and Development: Investing in novel technologies and methodologies to expedite the drug discovery process.
- Clinical Trials: Conducting rigorous clinical trials to evaluate the safety and efficacy of new treatments.
- Market Access: Ensuring that new therapies are accessible to patients who need them.
Financial Performance
As of the latest financial reports for Q2 2023, Cerevel Therapeutics had the following key financial metrics:
| Financial Metric | Q2 2023 Amount | Q1 2023 Amount |
|---|---|---|
| Total Revenue | $5.2 million | $3.9 million |
| Net Income | $(18.5) million | $(16.1) million |
| Cash & Cash Equivalents | $450 million | $480 million |
| R&D Expenses | $25 million | $18 million |
Therapeutic Areas
Cerevel's mission extends across several therapeutic areas, where the company aims to make significant impacts:
- Schizophrenia: Developing therapies to address the unmet needs of patients.
- Parkinson's Disease: Focusing on innovative approaches to modify disease progression.
- Epilepsy: Exploring new treatment avenues to enhance seizure control.
Partnerships and Collaborations
Cerevel engages in strategic partnerships to bolster its mission:
- Collaboration with academic institutions for advanced research.
- Partnerships with pharmaceutical companies for shared development of therapies.
Commitment to Patients
The cornerstone of Cerevel's mission is its unwavering commitment to patients:
- Regular interaction with patient advocacy groups.
- Gathering real-world evidence to inform clinical development.
How Cerevel Therapeutics Holdings, Inc. (CERE) Works
Company Overview
Cerevel Therapeutics Holdings, Inc. (CERE) is a biopharmaceutical company focused on developing therapies for neuroscience indications. The company's primary focus areas are schizophrenia, epilepsy, and Parkinson's disease.
Business Model
Cerevel operates under a model that combines drug discovery and development, with an emphasis on addressing unmet medical needs in the CNS (central nervous system) domain.
Pipeline
Cerevel's pipeline includes several investigational drugs in various phases of clinical development. The most notable are:
- CVL-751 – Stage: Phase 2, Indication: Parkinson's Disease
- CVL-936 – Stage: Phase 3, Indication: Schizophrenia
- CVL-231 – Stage: Phase 2, Indication: Epilepsy
| Drug Candidate | Stage | Indication | Estimated Completion Date |
|---|---|---|---|
| CVL-751 | Phase 2 | Parkinson's Disease | 2024 |
| CVL-936 | Phase 3 | Schizophrenia | 2025 |
| CVL-231 | Phase 2 | Epilepsy | 2024 |
Financials
Cerevel Therapeutics went public in 2020, raising approximately $250 million through its initial public offering (IPO). As of the end of Q3 2023, the company reported total assets of $675 million.
For the year ended 2022, Cerevel reported a net loss of $168 million, with an operating loss of $154 million. Revenue for the same period was recorded at $60 million, primarily through collaborations and grants.
| Financial Metric | 2021 | 2022 | 2023 (Q3) |
|---|---|---|---|
| Total Assets | $435 million | $675 million | $685 million |
| Net Loss | $128 million | $168 million | $130 million |
| Revenue | $40 million | $60 million | $45 million |
Partnerships and Collaborations
Cerevel has secured several partnerships to enhance its research capabilities, including collaborations with:
- Yale University for neuroscience research
- National Institutes of Health (NIH) for clinical trials
- Various pharmaceutical companies for drug development
Market Position
The market for CNS therapies is projected to reach $100 billion by 2025. Cerevel aims to capture a significant share of this market through its innovative drug pipeline and strategic collaborations.
Current Stock Performance
As of October 2023, Cerevel's stock is trading at approximately $18.00 per share, with a market capitalization of around $2 billion.
| Stock Data | Price (Oct 2023) | Market Capitalization | 52 Week High | 52 Week Low |
|---|---|---|---|---|
| CERE | $18.00 | $2 billion | $25.00 | $12.00 |
Future Outlook
Cerevel anticipates further advancement in its clinical trials and expects to initiate new studies in the upcoming year, aiming for regulatory submissions for its lead candidates.
How Cerevel Therapeutics Holdings, Inc. (CERE) Makes Money
Revenue Streams
Cerevel Therapeutics focuses on developing therapies for neurological diseases. The company primarily generates revenue through:
- Collaborative agreements with larger pharmaceutical companies
- Licensing agreements for its drug candidates
- Grants from governmental and non-governmental organizations
Collaborative Agreements
As of the latest report, Cerevel has formed a collaboration with Pfizer, which included a $200 million upfront payment. This collaboration aims at the development of therapies for Parkinson's disease.
Licensing Agreements
The company has various licensing agreements for its product pipeline, which encompasses:
- Efficacy and safety trial results eliciting interest from potential partners.
- Revenue from milestone payments upon reaching certain developmental stages.
Current Product Pipeline Update
Cerevel's leading candidates are:
- CVL-231 (for schizophrenia)
- CVL-865 (for focal epilepsy)
- CVL-751 (for Parkinson's disease)
As of Q2 2023, the annual estimated peak sales for CVL-231 is projected at $500 million, while CVL-865 could reach $300 million annually upon successful commercialization.
Financial Performance Highlights
For the fiscal year ending December 31, 2022, Cerevel Therapeutics reported:
| Financial Metric | 2022 Amount | 2021 Amount |
|---|---|---|
| Total Revenue | $0 | $0 |
| Research and Development Expenses | $175 million | $125 million |
| General and Administrative Expenses | $90 million | $70 million |
| Net Loss | ($265 million) | ($195 million) |
| Cash and Cash Equivalents | $338 million | $400 million |
Grants and Funding
Cerevel has received various grants to support R&D efforts, including a $5 million grant from the National Institute of Health (NIH) dedicated to studies on neurodegenerative disorders.
Market Outlook
The global market for neurological drugs is expected to surpass $200 billion by 2027, providing ample opportunities for growth for Cerevel's drug candidates.
Stock Performance
As of October 2023, Cerevel Therapeutics’ stock (CERE) traded at approximately $20.50 per share, with a market capitalization of around $2.5 billion.
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