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Justine Koenigsberg (investors)
Concert Pharmaceuticals, Inc.
Kathryn Morris (media)
The Yates Network
FOR IMMEDIATE RELEASE
Concert Pharmaceuticals Reports Second Quarter 2020 Financial Results and Provides Company Update
CTP-543 Phase 3 Trial Initiation in Alopecia Areata Expected to Begin Fourth Quarter 2020
CTP-692 Phase 2 Trial Enrollment in Schizophrenia Expected to be Complete by Year-End 2020
Conference Call Scheduled Today at 8:30 a.m. ET
Lexington, MA (August 6, 2020) -- Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) today reported financial results for the second quarter of 2020.
“We continue to be committed to advancing both of our lead programs as we embark on moving CTP-543 into pivotal trials. Our priority is to work with our clinical sites to support the safety and well-being of our trial participants, investigators and employees,” said Roger Tung, Ph.D., President and Chief Executive Officer of Concert Pharmaceuticals. “We remain on track with our clinical program goals for CTP-543 in alopecia areata and CTP-692 in schizophrenia, both of which could potentially address important medical needs and sizeable market opportunities. For CTP-543, the Phase 3 program is expected to begin in the fourth quarter of 2020, supporting a potential new drug application to the FDA in 2023. For CTP-692, we continue to expect the Phase 2 trial will be fully enrolled by year-end with data expected in 2021.”
Recent Business Highlights and Upcoming Milestones
CTP-543: An Investigational Treatment for Moderate-to-Severe Alopecia Areata
•Released CTP-543 Phase 2 SALT 20 Results. The Company released new data analyses from its completed Phase 2 dose-ranging study, including an analysis of patients achieving a SALT score ≤ 20 using the Severity of Alopecia Tool (SALT). Results showed that 26% and 42% of patients in the CTP-543 8 mg and 12 mg twice-daily dose groups, respectively, achieved a SALT score ≤ 20, showing statistically significant improvements of hair regrowth compared to placebo. A SALT score ≤ 20
The following information was filed by Concert Pharmaceuticals, Inc. (CNCE) on Thursday, August 6, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.