CERE - Cerevel Therapeutics falls as Perceptive Advisors says not aware of talks

2023-04-25 14:10:17 ET

Cerevel Therapeutics ( NASDAQ: CERE ) fell 5% after investor Perceptive Advisors said "it is not currently aware of or participating in any such discussions" about a potential strategic transaction with Cerevel, according to a 13D/A filing.

Perceptive Advisors, which owns 10.1 million Cerevel ( CERE ) share, or a 6.4%, stake, said it may in the future engage in discussions with the company and third parties about potential strategic transactions, according to the filing.

The latest update from Perceptive comes after it disclosed in a 13D filing on Friday that it was "currently engaging in preliminary discussions with the Issuer and certain third parties about a potential strategic transaction, although there is no assurance that any transaction will materialize."

Ceres ( CERE ) gained 7.2% on Monday after the Perceptive Advisors disclosure on Friday after the close.

Ceres ( CERE ) dropped 14% on Feb. 22 after the neuroscience-focused biotec h pushed back the timeline for multiple clinical programs with its Q4 2022 results.

Cere ( CERE ) is scheduled to report Q1 results next Wednesday.

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