INCY - Concert Pharma surges as U.S. patent office upholds key patent

The clinical-stage biotech Concert Pharmaceuticals (NASDAQ:CNCE) announced on Thursday that the U.S. patent office upheld the validity of a key patent of its lead product candidate CTP-543 following a petition filed by rival biotech Incyte Corporation (INCY). Concert (CNCE) shares recorded the biggest intraday gain in over six months following the disclosure. On Wednesday, the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office issued its final written decision upholding the validity of the disputed claims of the U.S. Patent No. 10,561,659, Concert (CNCE) said in a regulatory filing. The ruling follows a post-grant review of the patent conducted by the PTAB based on a petition filed by the Incyte Corporation (INCY). The 659 Patent expiring in 2037 covers the methods of treating the hair loss with certain doses of the company’s lead candidate CTP-543, including the doses tested in its Phase 3 clinical trial for the candidate

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Concert Pharma surges as U.S. patent office upholds key patent