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Concert Pharmaceuticals (NASDAQ: CNCE) will present a corporate overview at two upcoming virtual investor conferences. The H.C. Wainwright Global Life Sciences Conference is scheduled for March 9, 2021, with on-demand access starting at 7:00 a.m. ET. The Oppenheimer Virtual 31st Annual Healthcare Conference will take place on March 17, 2021, at 9:20 a.m. ET. Interested parties can access the live webcasts on the company's website and will be available for replay for two weeks post-event.
Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) reported financial results for 2020, highlighting a revenue increase to $7.9 million from $1.1 million in 2019, primarily due to deferred revenue recognition. Cash and investments rose to $130 million, expected to sustain operations through 2021. The company is advancing CTP-543, aimed at treating alopecia areata, with ongoing Phase 3 trials under Breakthrough Therapy designation. R&D expenses increased to $61.6 million, driven by CTP-692's clinical trial, which did not meet endpoints. The net loss was $74.8 million, or $2.40 per share.
Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) will release its financial results for the year ending December 31, 2020, on February 25, 2021, before the U.S. markets open. The company will hold a conference call at 8:30 a.m. ET to discuss the results and provide a business update. Interested participants can join via U.S. dial-in at (855) 354-1855 or international at (484) 365-2865. A live webcast will be available on the company's website and a replay will be accessible for three months.
Concert Pharmaceuticals (NASDAQ: CNCE) announced that its Phase 2 trial for CTP-692, aimed at treating schizophrenia, did not meet its primary or secondary endpoints. The trial included 325 patients on stable antipsychotic medications and compared different doses of CTP-692 against placebo, finding no statistically significant improvement in the Positive and Negative Syndrome Scale. Despite mild side effects, the company will now focus on advancing CTP-543, its candidate for alopecia areata, and further evaluating its pipeline candidates.
Concert Pharmaceuticals (NASDAQ: CNCE) announced its participation in two upcoming investor conferences. The Stifel 2020 Virtual Healthcare Conference will take place on November 16, 2020, at 4:40 p.m. ET, while the Jefferies Virtual London Healthcare Conference is scheduled for November 18, 2020, at 7:55 p.m. GMT (2:55 p.m. ET). Webcasts of the presentations will be available in the Investors section of Concert's website, with replays accessible for two weeks post-event. Concert focuses on developing small molecule drugs using its DCE Platform, targeting autoimmune and CNS disorders.
Concert Pharmaceuticals (NASDAQ: CNCE) reported its Q3 2020 financial results, revealing a net loss of $18.9 million or $0.60 per share, compared to a loss of $17.2 million or $0.72 per share in Q3 2019. The company had revenues of $1.5 million from deferred revenue due to a prior agreement with Celgene. Cash and investments reached $124.2 million, expected to fund operations into the second half of 2021. Notably, the pivotal THRIVE-AA1 trial for CTP-543 is underway, and topline data for CTP-692 is anticipated in Q1 2021, following successful Phase 2 enrollment.
Concert Pharmaceuticals (NASDAQ: CNCE) has initiated THRIVE-AA1, its first Phase 3 clinical trial evaluating the efficacy and safety of CTP-543, an oral Janus kinase inhibitor, for adults with moderate to severe alopecia areata. Following positive Phase 2 results, the trial is set to enroll approximately 700 patients across the U.S., Canada, and Europe, with primary endpoints focused on scalp hair regrowth. Topline results are expected in 2022, potentially leading to a New Drug Application submission in early 2023, leveraging the Breakthrough Therapy designation granted by the FDA.
Concert Pharmaceuticals (NASDAQ: CNCE) presented initial data from its long-term, open-label study of CTP-543 for treating moderate to severe alopecia areata at the 29th EADV Virtual Congress. Results indicate maintained or improved hair regrowth in most patients compared to prior Phase 2 trials, with over 90% patient enrollment in the extension study. More than 130 patients have received CTP-543 for over a year, showing consistent outcomes. The treatment has been well tolerated, with adverse events generally mild, supporting the candidate's potential for future regulatory approval.
Concert Pharmaceuticals (NASDAQ: CNCE) will report its third quarter 2020 financial results on November 5, 2020, before U.S. market opening. A conference call and webcast are scheduled for 8:30 a.m. ET to discuss these results and provide a business update. Interested participants can join by dialing (855) 354-1855 (U.S. and Canada) or (484) 365-2865 (International). Additionally, a live webcast will be available on the Company’s website, with a replay accessible for three months.
Concert Pharmaceuticals (NASDAQ: CNCE) disclosed that the Journal of Investigative Dermatology published survey results revealing the significant burden faced by patients with moderate-to-severe alopecia areata. Conducted by the National Alopecia Areata Foundation, the survey involved 216 patients, highlighting various comorbidities, including anxiety and depression. The study underlined the pressing need for effective treatments, noting that nearly two-thirds of respondents made major life decisions influenced by their condition. The findings aim to raise awareness about the psychosocial impacts of alopecia areata.
