Concert Pharmaceuticals Announces Exercise of Warrants Under Existing Funding Agreement

LEXINGTON, Mass.–(BUSINESS WIRE)–Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced that BVF Partners LP and RA Capital Management have exercised their remaining Tranche 1 warrants issued in connection with the Company’s November 2021 financing, generating $20.9 million in proceeds for the Company. Concert has the potential to receive an additional $49.2 million if the Tranche 2 Warrants issued to BVF and RA Capital under the same financing are exercised in full before their expiration date of October 31, 2022. If Tranche 2 Warrants are fully exercised, under its current operating plan, Concert would expect its cash, cash equivalents and investments to fund the Company beyond the expected bid of its New Drug Application (NDA) for CTP-543, which is expected in the first half of 2023.

The exercise period for Tranches 1 and 2 warrants was tied to the clinical success of the Company’s Phase 3 CTP-543 THRIVE-AA1 and THRIVE-AA2 trials for alopecia areata. Concert reported the first positive results from the THRIVE-AA1 and THRIVE-AA2 trials in May 2022 and August 2022, respectively. In June 2022, Concert received $18.9 million from the partial exercise of Tranche 1 warrants issued to BVF and RA Capital.

About the concerts

Concert Pharmaceuticals is a late-stage clinical biopharmaceutical company developing small molecule drugs it discovered through the application of its DCE platform® (platform of deuterated chemical entities). The selective incorporation of deuterium into known molecules has the potential, on a case-by-case basis, to provide better pharmacokinetic or metabolic properties, thereby improving their clinical safety, tolerability or efficacy. Concert’s lead product candidate, CTP-543, is being developed for the treatment of alopecia areata, a serious autoimmune skin condition. Concert is also evaluating a number of candidates early in the pipeline. For more information, please visit or follow us on Twitter at @ConcertPharma or on LinkedIn.

Caution Regarding Forward-Looking Statements

Any statement contained in this press release regarding our future expectations, plans and outlook, including, but not limited to, statements regarding our expectations regarding the development of CTP-543, the expected timeline for filing an NDA for CTP-543 and the adequacy of our cash, cash equivalents and investments to fund our operations, and any other statements containing the words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect” , “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should”, “target”, “will”, “would” and similar expressions, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 Actual results may differ materially from those indicated by such forward-looking statements due to a variety of important factors, including: uncertainties inherent in the launch, timing nder and design of future clinical trials, the availability and timing of data from ongoing and future clinical trials. clinical trials and the outcome ts of those trials, whether preliminary results, including safety profiles, of a clinical trial will be predictive of the final results of that trial or whether the results of early clinical trials will be indicative of trial results subsequent clinical trials, expectations regarding the timing of the submission of an NDA, the availability of regulatory approvals, the availability of sufficient funding for our predictable and unpredictable operating expenses and capital expenditure needs, expectations regarding the protection of our intellectual property afforded by our patents and other factors discussed in the “Risk Factors” section of our most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission and in other documents we file with the Securities and Exchange Commission. In addition, any forward-looking statements included in this press release e represents our views only as of the date of this release and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update any forward-looking statements included in this press release.

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