Notable Runner: Concert Pharmaceuticals, Inc.’s (NASDAQ: CNCE)

On 06 Dec 18, Concert Pharmaceuticals, Inc.’s (NASDAQ: CNCE) above/below -1.19% and ended at $12.471. The stock’s market capitalization arrived at $292.165M and total traded volume was 186,229 shares. The stock has a 52-week highest price of $30.71 and its 52-week lowest price was called at $10.80. During last trade, its maximum trading price was registered $12.56 and it’s the minimum trading price was noted $12.11.

Concert Pharmaceuticals, Inc. (CNCE) recently stated financial results for the third quarter of 2018.

“This is an exciting time at Concert as we advance multiple pipeline candidates, with our priority directed towards our lead compound, CTP-543 for alopecia areata,” stated Roger Tung, Ph.D., President and Chief Executive Officer of Concert Pharmaceuticals. “The potential of Janus kinase inhibitors to treat alopecia areata is drawing important interest to this important unmet medical need. Concert is at the forefront of this field, and we are working to bring CTP-543 to market as a new treatment for alopecia areata. We eagerly await our first key data readout later this month.”

Third Quarter 2018 Financial Results

  • Cash and Investment Position.Cash, cash equivalents and investments as of September 30, 2018, totaled $168.5M as contrast to $203.2M as of December 31, 2017. Concert expects its cash, cash equivalents and investments to be sufficient to fund the Company into 2021 under its current operating plan.
  • Revenue was $11,000 for the quarter ended September 30, 2018, contrast to $143.8M for the same period in 2017. The revenue in 2017 relates primarily to an asset purchase contract with Vertex Pharmaceuticals, whereby Vertex purchased worldwide rights to CTP-656 and other assets related to the treatment of cystic fibrosis.
  • R&D Expenses.Research and development expenses were $11.0M for the quarter ended September 30, 2018, contrast to $7.1M for the same period in 2017. The raise in R&D expenses relate primarily to clinical development of CTP-543, including an ongoing Phase 2 clinical trial, and raised expenses associated with the advancement of CTP-692 in 2018 as a new development program.
  • G&A Expenses.General and administrative expenses were $6.3M for the quarter ended September 30, 2018, contrast to $4.9M for the same period in 2017. The raise in G&A expenses was primarily related to an raise in professional and legal fees in connection with intellectual property matters related to CTP-543.
  • Net Loss.For the quarter ended September 30, 2018, net loss applicable to ordinary stockholders was $17.4M, or $0.74 per share, contrast with a net income applicable to ordinary stockholders of $128.1M, or $5.61 per share, for the quarter ended September 30, 2017.

EPS growth for this year is 278.00% and EPS growth for next year is expected to reach at -21.80%. EPS growth in past five years was 33.20%. Sales growth past 5 years was measured at 62.10%. Analyst recommendation for this stock stands at 2.00.

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