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EX - 99.1 2 cere - 20210811 ex99_1.htm EX - 99.1 cerevel Exhibit 99.1 Cerevel Therapeutics Reports Second Quarter 2021 Financial Results and Business Updates Announced positive topline results for CVL - 231 in Phase 1b trial in schizophrenia Raised $ 328 million in net proceeds from follow - on offering of common stock and announced redemption of outstanding public warrants Received Fast Track designation and initiated screening in Phase 2a trial of CVL - 871 in dementia - related apathy Virtual R & D Update Event scheduled for October 7 , 2021 Conference call and webcast scheduled today at 8:00 a.m. EDT CAMBRIDGE , Mass . , August 11 , 2021 -- Cerevel Therapeutics , ( Nasdaq : CERE ) , a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases , today reported financial results for the quarter ended June 30 , 2021 and provided key pipeline and business updates . " This quarter we began to deliver on Cerevel's aspiration to become the premier neuroscience company with the release of positive data for CVL - 231 in schizophrenia , " said Tony Coles , M.D. , chairperson and chief executive officer of Cerevel Therapeutics . “ Including our tavapadon financing and redemption of our public warrants , we have now added more than $ 800 million in capital as a public company , and we are well - equipped to rapidly advance our broad and diverse pipeline of novel compounds . With multiple data readouts expected over the next three years , we believe that Cerevel has the pipeline , the capital , and the momentum needed to transform the possibilities for neuroscience therapies . " Pipeline Highlights Leveraging its deep understanding of neurocircuitry and receptor subtype selectivity , Cerevel continues to execute on its broad pipeline of novel neuroscience drug candidates . CVL - 231 : CVL - 231 is an M4 - selective positive allosteric modulator ( PAM ) in development as a once - daily medication for schizophrenia without the need for titration . Cerevel recently announced positive topline data for its Phase 1b trial of CVL - 231 in people with schizophrenia . - In the Phase 1b trial , CVL - 231 demonstrated a clinically meaningful and statistically significant improvement of 19.5 and 17.9 points ( placebo - adjusted 12.7 and 11.1 points ) in the Positive and Negative Syndrome Scale ( PANSS ) Total score at 6 weeks for the 30 mg QD and 20 mg BID groups , respectively . CVL - 231 was generally well - tolerated in the clinical trial , with incidence of treatment emergent adverse events for both dose cohorts similar to placebo , including heart rate and blood pressure increases .