(24/7 Market News) Concert Pharmaceuticals Inc (NASDAQ: CNCE) has already rode several waves to new highs, including hitting $6.50 this morning.
The Lexington, Massachusetts based clinical stage biopharmaceutical company is developing small molecule drugs, which it discovered through the application of its deuterated chemical entity platform. Its lead treatment candidate targets alopecia areata, a serious autoimmune dermatological condition, and is in late-stage development.
Concert Pharmaceuticals recently reported positive topline results for First CTP-543 Phase 3 clinical trial in Alopecia Areata and the highlights included; THRIVE-AA1 Study Meets Primary Endpoint for Scalp Hair Regrowth and Key Secondary Endpoints at Both Doses, Statistically Significant Hair Regrowth Observed as Early as Eight Weeks, CTP-543 Has Potential to be Best-in-Class for the Treatment of Alopecia Areata, and Topline Data from Second Phase 3 Trial, THRIVE-AA2, Expected Third Quarter of 2022
Concert Pharmaceuticals has retreated to $6.36, for a $1.34 (+26.63%) gain, on 2,338,264 shares, but, if it consolidates at this level and then breaks through the $6.45 level, we should see another wave higher.
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