Aegis Capital has reiterated a ‘Buy’ rating and price target of $25 on shares of Concert Pharmaceuticals, Inc. (NASDAQ: CNCE). The company recently said it has received notice from the FDA that its CTP-543 phase 2a clinical trial for alopecia areata has been placed on clinical hold. The FDA is requesting a review of non-clinical toxicology studies to evaluate the planned one-year dosing. Concert said it intends to submit a response shortly, which the FDA will review within 30 days. The analyst noted the hold and said he believes the issue will be easily resolved without a long delay in Concert’s clinical trial.
For more information, visit www.concertpharma.com
Concert Pharmaceuticals is a clinical stage biopharmaceutical company focused on applying its DCE Platform® (deuterated chemical entity platform) to create novel medicines designed to address unmet patient needs. The company’s approach starts with approved drugs in which deuterium substitution has the potential to enhance clinical safety, tolerability or efficacy. Concert has a broad pipeline of innovative medicines targeting pulmonary diseases, including cystic fibrosis, autoimmune and inflammatory diseases and central nervous systems (CNS) disorders.
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