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Concert Pharmaceuticals Inc. (CNCE) Is Falling After PGR Petition Denied

Concert Pharmaceuticals Inc. (CNCE) announced Friday morning that its Post Grant Review petition challenging the validity of U.S. Patent No. 9,662,335 assigned to Incyte Pharmaceuticals has been denied by the U.S. Patent and Trademark Office.

The company also announced this morning that it has been granted Fast Track designation by the FDA for CTP-543.

Concert Pharmaceuticals gapped open sharply lower this morning and has continued to decline in early trade. Shares are now down 7.11 at $20.57 on above average volume. The stock has dropped to nearly a 2-month low.

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