Increased cash balance and momentum with both Nasdaq and Phase 1 trial initiation mark strong beginning for 2025
SOUTH SAN FRANSCISCO, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc., (Nasdaq: CERO) (“CERo” or the “Company”) an innovative immunotherapy company seeking to advance the next generation of engineered T cell therapeutics that employ phagocytic mechanisms, provides investors with a corporate update highlighting its improved cash balance following its recent capital raise, steady progress in the initiation of its Phase 1 clinical trial of CER-1236, and a pathway toward maintaining Nasdaq listing.
CEO Chris Ehrlich commented, “We have had a very strong entry into 2025, which has greatly improved the outlook of the Company from the previous year. As announced, we completed a $5 million financing, which gives us a current cash position of approximately $8 million. We believe this funding will allow us to achieve numerous value-creating milestones in the coming year. In addition, we have also completed the conversion of the majority of our preferred shares into common shares, which significantly improves our cap table moving forward.
“Further, we have been diligently working with FDA to complete the set-up of operations and processes needed to initiate our Phase I clinical trials of CER-1236 in AML as noted in our communications with the FDA. We have made significant progress with a leading cancer center as our initial trial site and believe we will dose our first patient in the trial during the first half of the year. In addition, we anticipate submitting our second IND to expand and explore CER-1236 into breast and lung cancers in the coming months.
“Finally, we executed a 100:1 reverse stock split, which enabled us to better position ourselves within the market and move us toward complete Nasdaq compliance. A subsequent meeting with Nasdaq has provided us with the additional time we need and a path forward to achieve that compliance in the near term.
“CERo has made measurable progress in the last two months, and we believe we are now in a favorable position to progress our business plan, as well as to provide a clear pathway toward shareholder value. We thank our team for its invaluable insight and tireless work, as well as our advisors who have been instrumental in getting us to this moment,” concluded Mr. Ehrlich.
About CERo Therapeutics Holdings, Inc.
CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo anticipates initiating clinical trials for its lead product candidate, CER-1236, in 2024 for hematological malignancies.
Forward-Looking Statements
This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo the timing and completion of the reverse stock split, and the acceptance and implementation of its proposed plan of compliance with Nasdaq continued listing standards. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.
Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 2, 2024, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Chris Ehrlich
Chief Executive Officer
chris@cero.bio
Investors:
CORE IR
investors@cero.bio
