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Losses mount at Cerecor as drug development continues

Losses mount at Cerecor as drug development continues

Losses continued to mount last year at Cerecor, a Baltimore pharmaceutical company, as it develops and tests a new antidepressant and other drugs.

Cerecor, which raised $26 million in an October initial public offering, announced Thursday that it lost $3.6 million in 2015's fourth quarter, more than the $2.5 million it lost a year earlier. For the full year, it lost $10.5 million.

Since Cerecor is still developing its drugs, the company has no revenue and the losses reflect its spending on research and adminstrative costs. The company said it ended the year with $21.2 million in cash to fund its ongoing work.

"Cerecor made significant strides in the last year in...

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