Cerevel's stock rockets up on release of early data in schizophrenia, followed by an offering
A couple of years ago, when Pfizer shut down its neuroscience division, Bain Capital picked up the pieces and spun them out into a new biotech. On Tuesday, that company was doing the happy dance, as an early look at positive data in schizophrenia sent shares soaring more than 135%.
Cerevel Therapeutics said Tuesday that patients who took a 30 mg dose of its CVL-231 once a day saw a mean reduction from baseline of 19.5 points on the Positive and Negative Syndrome Scale (PANSS), a medical scale published back in 1987 that’s used for measuring symptom severity in those with schizophrenia. That group saw a mean reduction of 12.7 points on the PANSS scale compared to the placebo group, with a p-value of 0.023, according to the company.
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