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Concert Pharmaceuticals Inc. (CNCE) Sank To Nearly A 2-Month Low

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 lower Friday and dropped during the first half hour of trade. The stock was range-bound for the rest of the session and closed down by 7.53 at $20.15 with volume at a 10-month high. Concert Pharmaceuticals dropped to nearly a 2-month low.

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