Benzinga | Mar 2, 2021 08:48AM EST

Cerecor Shares Are Trading Higher On Positive CERC-002 Efficacy Data In COVID-19 Study

* Cerecor Inc (NASDAQ: CERC) shares gained premarket on the heels of final efficacy data, including 60-day mortality from the Phase 2 trial evaluating CERC-002 in hospitalized patients with COVID-19 associated pneumonia and acute respiratory distress syndrome (ARDS).

* This analysis updates the preliminary topline data reported in January.

* The updated data demonstrated a higher proportion of patients alive and free of respiratory failure over the 28-day study period (primary endpoint) compared to placebo.

* At both the 28-day and the 60-day final timepoints, an approximately 50% trend in mortality reduction (22.5% vs. 10.8%) was observed.

* Efficacy was highest in patients over the age of 60.

* CERC-002 showed statistically significant efficacy on top of corticosteroids and standard of care treatments in COVID-19 ARDS.

* The treatment was well-tolerated, with no drug-related serious adverse effects were reported.

* The Company plans to meet with FDA to discuss the potential path to Emergency Use Authorization and approval.

* Price Action: CERC shares were trading 13.9% higher at $4.25 in the premarket trading on the last check Tuesday.