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Cerecor closes $10M offering to fund drug pipeline

Cerecor Inc. said it closed a previously announced underwritten offering for gross proceeds of about $10 million.

The Rockville, Md.-based biopharmaceutical company offered 1,818,182 common shares for $5.50 per share.

Cerecor said H.C. Wainwright & Co. acted as the sole book-running manager for the offering.

Cerecor intends to use the net proceeds from the offering to fund the development of its neurology and pediatric rare disease pipeline as well as for general corporate purposes and working capital.