MtBaker schreef op 23 augustus 2017 10:06:
Summary
Concert recently sold their CTP-656 drug to Vertex for up to $250 million in total consideration.
PRE 14A reveals negotiation dynamics and multiple interested parties.
Because the deal is still pending shareholder approval, more bidding for CTP-656 could be underway.
Concert (NASDAQ:CNCE) recently "sold" their Cystic Fibrosis Potentiator candidate CTP-656, a deuterated Kalydeco (speculated to be a 1x daily version due to a differentiated PK profile), to Vertex (NASDAQ:VRTX) for up to $250mn in total compensation ($160mn in cash and up to $90mn in future milestone payments). Management announced on their recent earnings call that the cash payment would likely come as the deal closes by October 31st of this year, pending due diligence and shareholder approval.
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