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Cerecor Inc. agreed to sell, from time to time, its common stock with a gross sales price of up to $12.1 million in an at-the-market equity offering program.
The company plans to use net proceeds from the offering to partially fund its research and development of its receptor antagonists CERC-501 and CERC-611 in its pipeline, pursue potential partnerships, collaborations or out-licenses, and for general working capital.
Maxim Group LLC is the sales agent for the offering.