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.