The stock price of Concert Pharmaceuticals (NASDAQ: CNCE) gained as much as 40% in Thursday premarket trading, before retracing slightly with the market open and holding into gains of just under 25%. The gains reflect today’s fundraising agreement with Concert Pharmaceuticals, BVF Partners, and RA Capital Management.
In a battle to break the bear slump, CNCE stock broke the $4.00 zone before consolidating around $3.60 – it appears investors are reacting well to the $65M fundraising partnership that will see the company fully funded until Q4 2022. Concert will also have the chance to bolster this with an additional $103M, should warrants be fully exercised with the agreement.
Easing funding constrictions, Concert will be able to continue its operations to the best of its abilities, soothing antsy investor sentiment and facilitating the development of CTP-543, should the New Drug Application be granted in early 2023.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The financing partnership with BVF and RA Capital will consist of common and preferred stock, warrants, and a slice of Concerts royalty agreement with Avanir Pharmaceuticals for AVP-786. BVF and RA will both receive 16.25M in common stock equivalents with warrants to purchase a further 8.13M in common stock.
CNCE stock is currently pushing towards the $4.00 zone at a current price of $3.67. Annually, Concert Pharmaceuticals is showing a loss of 65.86%. The company saw a plunge in stock earlier this year following a failed Schizophrenia trial.
Should You Invest in Concert Pharmaceuticals Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
[optin-monster slug=”p0ejbloqlwcce16kx3do”]
