Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Q1 2022 Earnings Conference Call May 10, 2022 8:00 AM ET

Company Participants

Matt Calistri - Vice President of Corporate Strategy and Investor Relations

Tony Coles - Chairperson and Chief Executive Officer

Ray Sanchez - Chief Medical Officer

John Renger - Chief Scientific Officer

Mark Bodenrader - Interim Chief Financial Officer

A. Ceesay - President

Conference Call Participants

Cory Kasimov - JPMorgan

Michael Yee - Jefferies

Paul Matteis - Stifel

Douglas Tsao - H.C. Wainwright

Madhu Kumar - Goldman Sachs

Won Jung - Morgan Stanley

Esther Hong - Berenberg

Operator

Good morning and welcome to the Cerevel Therapeutics first-quarter 2022 financial results conference call. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the Q&A portion of the call. Please note that this call may be recorded.

I will now hand the call over to Mr. Matt Calistri, Vice President of Corporate Strategy and Investor Relations. Please go ahead.

Matt Calistri

Thank you. Good morning, everyone. We appreciate you joining us for our first-quarter 2022 earnings call. On today's call, you'll be hearing from Dr. Tony Coles, our Chairperson and Chief Executive Officer; Dr. Ray Sanchez, our Chief Medical Officer; Dr. John Renger, our Chief Scientific Officer; and Mark Bodenrader, our Interim Chief Financial Officer; A. Ceesay, our President, will join us for Q&A. During our call today, please refer to our press release from this morning detailing our Q1 2022 performance, as well as our updated corporate presentation, both of which are available on our website. I would like to remind you that we will be making forward-looking statements that reflect our current views related to, among other things, the potential attributes and benefits of our product candidates and the format and timing of our product development activities and clinical trials. We strongly encourage you to review the information that we filed with the SEC regarding specific risks and uncertainties.

I will now hand the call over to Dr. Tony Coles, Chairperson and CEO of Cerevel, to provide an overview of our achievements and outlook.

Tony Coles

Thanks, Matt, and good morning, everyone. Thank you for joining us on our first-quarter 2022 business results call. Cerevel aspires to become the premier neuroscience company, and I'm really proud of the progress we've made to date. We've got the pipeline, the people and the capital we need to deliver innovative solutions for people living with some of the most vexing and difficult-to-treat neuroscience diseases. These diseases not only affect the patients but their families and society at large, and we all know that the unmet medical need is clear. We take a unique approach to addressing that unmet need. We begin with a deep understanding of neurocircuitry or how the brain is wired. We then focus on receptor subtype selectivity and utilize our knowledge of differentiated pharmacology to develop novel therapies through which we seek to transform what's possible in neuroscience. And our results speak to the benefits of our approach. When I spoke to you last quarter, we had just announced positive anxiety data for darigabat, our selective alpha-2/3/5 GABAA positive allosteric modulator or PAM. In less than a year ago, we announced positive Phase 1b data in schizophrenia for emraclidine, our M4-selective PAM, and we're forging ahead. We're on track to initiate two parallel adequately powered Phase 2 trials of emraclidine in schizophrenia by midyear 2022, and we continue to execute on our broad diverse pipeline of neuroscience drug candidates. And finally, we're growing our talented and very experienced team primarily in R&D with a deep passion for innovation in neuroscience.