Cerevel Therapeutics Holdings Inc / "Research and Development" | Tables in SEC filings

CERE Cerevel Therapeutics Holdings Inc

Quarterly report

	For the Three Months Ended March 31,
	2024		2023
Operating expenses:
Research and development	$	106,425	$	78,181
General and administrative		36,231		21,370
Total operating expenses		142,656		99,551
Loss from operations		(142,656)		(99,551)
Interest income, net		14,455		9,076
Interest expense		(2,652)		(2,636)
Other income (expense), net (including related party amounts), (Notes 5, 7 and 15)		(921)		(11,090)
Loss before income taxes		(131,774)		(104,201)
Income tax benefit (provision), net		(138)		(85)
Net loss	$	(131,912)	$	(104,286)
Net loss per share, basic and diluted	$	(0.73)	$	(0.67)
Weighted-average shares used in calculating net loss per share, basic and diluted		181,610,675		156,648,365

Comprehensive loss:
Net loss	$	(131,912)	$	(104,286)
Other comprehensive income (loss):
Changes in fair value attributable to instrument-specific credit risk (including related party amounts), (Notes 5, 7 and 15)		(920)		(906)
Unrealized gains (losses) on securities available-for-sale		(1,940)		1,497
Total other comprehensive income (loss)		(2,860)		591
Comprehensive loss	$	(134,772)	$	(103,695)

	For the Three Months Ended March 31,
(In thousands)	2024		2023		Change
Tavapadon	$	15,556	$	14,479		7	%
Emraclidine		38,322		21,971		74	%
Darigabat		4,753		5,547		(14	)%
CVL-871		1,018		944		8	%
Other research and development programs		8,369		5,093		64	%
Unallocated		7,334		5,678		29	%
Personnel costs		21,596		18,130		19	%
Equity-based compensation		9,477		6,339		50	%
Total research and development	$	106,425	$	78,181		36	%

	As of
(In thousands)	March 31, 2024		December 31, 2023
Accrued external research and development services	$	50,867	$	51,300
Accrued compensation and personnel costs		6,944		19,423
Accrued property and equipment		200		—
Accrued professional fees and consulting services		9,145		1,786
Accrued interest		1,078		3,234
Other		1,516		1,169
Accrued expenses and other current liabilities	$	69,750	$	76,912

	As of
(In thousands)	March 31, 2024		December 31, 2023
Prepaid clinical trial services	$	1,076	$	1,717
Prepaid research and development expenses		868		1,821
Prepaid insurance		1,935		2,608
Other prepaid expenses		4,364		3,973
Interest receivable		4,963		5,291
Other		77		563
Prepaid expenses and other current assets	$	13,283	$	15,973

	For the Three Months Ended March 31,
(In thousands)	2024		2023
Research and development	$	9,477	$	6,339
General and administrative		11,455		6,253
Total equity-based compensation expense included in total operating expense	$	20,932	$	12,592

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