I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.
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ROCKVILLE, Md., August 12, 2019 – Shares of Cerecor Inc. (NASDAQ: CERC) showed the bearish trend with a lower momentum of -9.32% to $3.21. The company traded total volume of 85.592K shares as contrast to its average volume of 159.96K shares. The company has a market value of $141.56M and about 44.10M shares outstanding.
Cerecor Inc. (CERC) reported net loss of $7.50M for the first quarter of 2019, as contrast to the prior year quarter net loss of $3.90M. The increase in net loss was mainly driven by the increase in operating expenses.
First Quarter 2019 Results:
Net product revenue increased $0.92M for the three months ended March 31, 2k19 as contrast to the same period in 2k18. The increase was because of favorable product mix and unit growth driven by the sales force expansion as well as because of a full quarter of sales of products that were attained during the prior year quarter.
Total operating expenses increased $4.20M to $12.40M for the first quarter of 2019 as contrast to the same period in 2018. This increase was mainly driven by increased spending on research and development and regulatory activities, as the Company continues to fund its pipeline, specifically the CERC-800 programs in Congenital Disorders of Glycosylation (CDGs) and CERC-301 in nOH.
Cerecor strengthened its balance sheet during the first quarter with a common stock offering in March 2019 that resulted in $10.00M in gross proceeds. This was the primary driver of our $5.50M increase in cash from December 31, 2018 to a quarter-end cash balance of $16.10M.
The Company maintains its full-year 2019 net revenue guidance in a range of $20 to $22.0M. These estimates are forward-looking statements that reflect management’s current expectations for Cerecor’s 2019 performance.
The Company offered gross profit margin of 55.50%. ROE was recorded as -218.90% while beta factor was 2.02. The stock, as of recent close, has shown the weekly downbeat performance of -11.08% which was maintained at -0.62% in this year.