CERE - Why Cerevel Therapeutics Is Up More Than 29% in the First Half of 2021
Cerevel Therapeutics (NASDAQ: CERE) closed Monday at $21.39, after starting the year at $15.55, a rise of more than 29% for the first half of 2021. Most of that climb came late last month after the company released positive phase 1B results regarding the use of its CVL-231 antipsychotic drug for schizophrenia patients.
According to Cerevel, CVL-231 was well-tolerated, with few side effects, in adult patients with schizophrenia. When taken once daily, the patients saw clinically meaningful antipsychotic activity compared to a placebo. The therapy works by reducing the release of dopamine in patients by manipulating M4 receptors in the brain.
The news regarding CVL-231 came on the heels of positive news regarding CVL-871, a therapy being developed for the treatment of dementia-related apathy. The Food and Drug Administration (FDA) gave the drug Fast Track designation in June, increasing the likelihood the FDA will expedite its review of the drug because it treats a serious medical condition and could meet a need that is unfilled.
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Why Cerevel Therapeutics Is Up More Than 29% in the First Half of 2021