Cerevel Therapeutics drops on wider Q1 loss

Cerevel Therapeutics Holdings

03/05/2023 14:24

** Shares of biotech firm Cerevel Therapeutics Holdings Inc
 CERE.O  down 2.5% at $30.12 premarket
    ** Company's Q1 net loss widened to $0.67/shr from $0.46/shr
a year earlier
    ** Cash, cash equivalents, and marketable securities as of
March 31, 2023 were $863.0 mln; expected to support seven data
readouts in 2024 and fund operations into 2025
    ** Cerevel also appoints Ron Renaud as president and chief
executive officer
    ** Renaud to succeed Tony Coles, as CEO, effective June 12
    ** Up to last close, stock down 2.04% YTD

 (Reporting by Sri Hari N S in Bengaluru)
 ((SriHari.NS@thomsonreuters.com;))