CNCE - Concert Pharmaceuticals prices 10M stock offering

Concert Pharmaceuticals (NASDAQ:CNCE) priced its underwritten public offering of 10M shares at a public offering price of $4.75/share Gross proceeds are expected to be ~$47.5M. Underwriters granted 30-day option to purchase up to an additional 1.5M shares. Offering is expected to close on or about June 6, 2022. Net proceeds along with current cash and cash equivalents to be used for complete clinical development supporting the filing of its New Drug Application for CTP-543 for the treatment of moderate to severe alopecia areata in adults, conduct pre-commercial activities related to CTP-543 and support its pipeline development, working capital needs and other general corporate purposes. Shares trading 6% down premarket.

For further details see:

Concert Pharmaceuticals prices 10M stock offering