In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cerecor Inc. (NASDAQ:CERC) reported that Armistice Capital has picked up 3,360,000 of common stock as of 2017-05-16.
The acquisition brings the aggregate amount owned by Armistice Capital to a total of 3,360,000 representing less than 23.9% stake in the company.
For those not familiar with the company, Cerecor, Inc. is a clinical stage biopharmaceutical company. The Company is engaged in developing drug candidates for patients with neurological and psychiatric disorders. The Company has a portfolio of clinical and preclinical compounds that it is developing for a range of indications, including CERC-301, which is an adjunctive treatment for major depressive disorder (MDD); CERC-501, which is for substance use disorders and adjunctive treatment of MDD, and CERC-406, which is for the treatment of cognitive impairment. The Company owns the rights to its COMTi platform. Catechol O methyltransferase (COMT) is an enzyme critical for the inactivation and metabolism of dopamine and its inhibition in the brain has applicability in treating subjects with neuropsychiatric conditions, including MDD, schizophrenia, Parkinson’s disease and pathological gambling. Its COMTi platform comprises COMT inhibitors with selectivity for membrane bound COMT, which is the dominant form of COMT.
A glance at Cerecor Inc. (NASDAQ:CERC)’s key stats reveals a current market capitalization of 9.73 Million based on 14.08 Million shares outstanding and a price at last close of $0.702 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-05-11, Armistice picked up 86,122 at a purchase price of $0.74. This brings their total holding to 3,360,000 as of the date of the filing.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cerecor Inc. (NASDAQ:CERC) as things move forward to see if its progress aligns with these transactions.
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