Concert Pharma (CNCE) Misses Q4 EPS by 15c

Concert Pharma (NASDAQ: CNCE) reported Q4 EPS of ($0.89), $0.15 worse than the analyst estimate of ($0.74). Revenue for the quarter came in at $13 thousand, versus $12 thousand reported last year.

“In 2019, we are focused on advancing our proprietary clinical candidates CTP-543 for alopecia areata and CTP-692 for schizophrenia, with key readouts on the horizon for both programs. For CTP-543, based on positive data from the interim analysis of our Phase 2 trial, we believe we may have the opportunity to move more quickly into pivotal trials than previously projected, with the goal of developing CTP-543 as a first-in-class oral treatment for alopecia areata,” said Roger Tung, Ph.D., President and Chief Executive Officer of Concert Pharmaceuticals. “For CTP-692, we are enthusiastic about the rapid progress of this program and its potential as a truly novel approach in the treatment of schizophrenia. Our Phase 2 trial, which is intended to support advancement into registration trials, is expected to begin later this year. CTP-692 is another example of the potential of our technology to create innovative medicines with differentiated properties that can have meaningful impact for patients.”

Dr. Tung added, “In addition to our proprietary clinical development programs, our collaborator Avanir Pharmaceuticals, a subsidiary of Otsuka Pharmaceuticals, expects to complete the first Phase 3 trial evaluating AVP-786 for Alzheimer’s agitation in April 2019, with data readout soon thereafter.”

For earnings history and earnings-related data on Concert Pharma (CNCE) click here.

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