CERC - Cerecor slumps 12% on stock and pre-funded warrants offering

Cerecor (CERC) shares traded 12% down after-hours after announcing its offer for sale shares to a certain investor in lieu thereof, pre-funded warrants to purchase shares of common stock, in an underwritten public offering; underwriters granted 30-day option to purchase up to an additional 15% of shares.Actual terms, offer size have not been disclosed.Net proceeds to be used for general corporate purposes primarily to support the ongoing clinical development of key assets within its pipeline.Recently, Cerecor announced CERC-002 data in mid-stage COVID-19 study.

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Cerecor slumps 12% on stock and pre-funded warrants offering