Corporate News Blog – Cerecor Acquired TRx Pharmaceuticals

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LONDON, UK / ACCESSWIRE / November 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Cerecor Inc. (NASDAQ: CERC), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=CERC. The Company announced on November 17, 2017, that it has signed an agreement to acquire TRx Pharmaceuticals LLC, including subsidiary Zylera Pharmaceuticals, LLC, and its franchise of commercial medications led by Poly-Vi-Flor® and Tri-Vi-Flor®. Cerecor also signed a merger agreement to acquire Zylera Pharma Corp. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Biotechnology industry. Pro-TD has currently selected Ascendis Pharma A/S (NASDAQ: ASND) for due-diligence and potential coverage as the Company announced on November 16, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on AscendisPharmawhen we publish it.

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Terms of the Acquisition

Pursuant to the acquisition terms, Cerecor will make an initial payment of $23 million to TRx Pharma, of which $18.9 million will be paid in cash and the remaining $4.1 million in Cerecor’s common stock. The former will pay $4 million in Cerecor’s common stock for the acquisition of Zylera Pharma Corp. TRxPharma’s shareholders will be eligible to receive up to an additional $7 million in contingent payments upon achievement of certain commercial and regulatory milestones.

Cerecor’s Board of Directors have unanimously approved the transactions. Torreya Partners served as the advisor to TRx Pharma in connection with the transaction.

Acquisition is a Pivotal Move in Cerecor’s Strategic Shift Towards Pediatric Healthcare

Steven Boyd, majority shareholder and Board Member of Cerecor, stated that the acquisition of TRx Pharma and its subsidiaries is a pivotal move in Cerecor’s strategic shift towards pediatric healthcare. Steve added that operationally, the transaction is believed to add a highly-effective commercial unit that will drive a solid revenue stream to help the Company advance its pipeline of drug candidates for rare neurologic diseases.

Cerecor Enables TRx Pharma to have a Built-out Commercial Operation in the Pediatric Space

Commenting on the acquisition, Robert Moscato, Co-founder and Chief Executive Officer of TRxPharma, expressed that the Company is excited to bring its expertise to Cerecor which enables the Company to have a built-out commercial operation with deep relationships in the pediatric space.

Leadership

Following the acquisition, Co-founders of TRx, Randal O. Jones and Robert C. Moscato Jr., will serve as Cerecor Board of Directors, and Mr. Moscato will assume the roles of President and Chief Operating Officer, effectively immediately.

Cerecor Divested Full Worldwide Rights to CERC-501 to Janssen Pharmaceuticals

On August 14, 2017, Cerecor sold its full worldwide rights to CERC-501 to Janssen Pharmaceuticals, Inc. in exchange for initial gross proceeds of $25 million, of which $3.75 million was deposited into a twelve-month escrow to secure certain indemnification obligations to Janssen Pharma as well as a potential future $20 million regulatory milestone payment.

About Poly-Vi-Flor® and Tri-Vi-Flor®

Poly-Vi-Flor® and Tri-Vi-Flor® medications are vitamin and fluoride supplements used in infants and children to treat or prevent deficiency of essential vitamins and fluoride, often caused by poor diet or low levels of fluoride in drinking water and other sources. Poly-Vi-Flor® and Tri-Vi-Flor® are available in the form of oral suspension as well as chewable tablets.

About Cerecor Inc.

Founded in 2011, Cerecor Inc. is a clinical-stage biopharmaceutical company with the goal of becoming a leader in the development of innovative drugs that make a difference in the lives of patients with neurological and psychiatric disorders. The Company is based in Baltimore, Maryland.

Last Close Stock Review

On Monday, November 20, 2017, the stock closed the trading session at $1.18, climbing 4.42% from its previous closing price of $1.13. A total volume of 182.47 thousand shares have exchanged hands. Cerecor’s stock price skyrocketed 28.26% in the last one month, 96.67% in the past three months, and 109.26% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 34.03%. The stock is trading at a PE ratio of 3.18 and currently has a market cap of $29.65 million.

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