CERC - Cerecor enters into $35M debt financing agreement with Horizon Technology Finance

Cerecor shares rise ([[CERC]] +13.8%) after announcing that it has entered into a debt financing agreement led by Horizon Technology Finance to provide up to $35M in term loans.The company said that the financing provides flexibility and extends runway through multiple clinical catalysts expected in 2021.$20M of the $35M loan was funded upon closing. The remaining $15M may be funded upon Cerecor achieving certain predetermined milestones.Proceeds will be used to support the ongoing clinical development of key investigational product candidates within its pipeline and for general working capital purposes, the company said.

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Cerecor enters into $35M debt financing agreement with Horizon Technology Finance