Concert alopecia win rubs Salt in its wounds
Concert Pharmaceuticals might have a contender in alopecia in its oral Jak inhibitor CTP-543, according to data from the phase 3 Thrive-AA1 study, released today. But most investors might see little benefit: late last year the company managed to bring in enough cash to get it to the end of 2022, but even so this was a private raise from two funds and had warrants attached. And, if CTP-543 is approved, tiny Concert could be up against Lilly and Pfizer – the former’s Olumiant is currently under FDA review in alopecia, while the latter plans to file its Jak 3/Tec inhibitor ritlecitinib this quarter. Data from CTP-543’s second pivotal trial, Thrive-AA2, are due in the third quarter; even if the project’s apparent edge over Lilly and Pfizer’s agents holds up, the small group still faces a tough task. At least Concert’s intellectual property woes have taken a back seat after the US Patent Trial and Appeal Board recently found the group’s ‘659 method-of-use patent valid. Concert is still appealing the invalidation of its ‘149 composition-of-matter patent, however, and could end up paying the challenger, Incyte, an estimated 10% royalty.
Note: all placebo-adjusted; primary endpoint of Thrive-AA1 & Allegro measured at 24 weeks, and at 36 weeks for Brave-AA1/2. Source: company communications.