Concert Pharmaceuticals announces the price of its public offering

LEXINGTON, Mass.–(BUSINESS WIRE)–Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced the price for an underwritten public offering of 10,000,000 common shares at a public offering price of $4.75 per share. Gross proceeds to Concert, before deducting underwriting discounts and fees and estimated offering costs payable by Concert, are expected to be approximately $47.5 million. Concert has granted the underwriters a 30-day option to purchase up to 1,500,000 additional common shares at the public offering price, less discounts and underwriting commissions.

All shares in the offering are being sold by Concert. The offering is expected to close on or about June 6, 2022, subject to the satisfaction of customary closing conditions.

Concert intends to use the net proceeds from the offering, together with its current cash and cash equivalents, to complete clinical development supporting the filing of its New Drug Application for CTP-543 for the treatment of moderate to severe alopecia in adults, to perform CTP-543-related business activities and support its pipeline development, working capital requirements, and other general corporate goals.

Jefferies and Truist Securities are acting as joint bookrunners for the offering. JMP Securities, A Citizens Company and Mizuho Securities are acting as lead managers, and HC Wainwright & Co. is acting as co-offering manager.

The offering is being made only by means of a written prospectus supplement and prospectus forming part of a shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective on November 16, 2020. A preliminary prospectus supplement relating to the offering has been filed with the SEC. The final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained, when available, by contacting Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at prospectus_department@jeferies.com or Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9th floor, Atlanta, Georgia 30326, by phone at (800) 685 -4786, email: TruistSecurities.prospectus@Truist.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, and there will be no sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About the concerts

Concert Pharmaceuticals is a clinical-stage 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 is in late-stage development for the treatment of alopecia areata, a serious autoimmune skin disease. Concert is also evaluating a number of candidates early in the pipeline.

Caution Regarding Forward-Looking Statements

Any statements in this press release regarding the expected final terms, timing and completion of the proposed offering, the intended use of proceeds of the proposed offering and other statements containing the words “anticipate”, “believe” , “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “should”, “target” , “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: whether or not Concert will be able to raise capital through the sale of common stock, the financial terms of the proposed offer, Concert’s ability to satisfy customary closing conditions associated with the proposed offer, the terms and and other factors, and other factors discussed in the “Risk Factors” section of our most recent Quarterly Report on Form 10-Q filed with the SEC, in the preliminary prospectus supplement relating to the filed offering. with the SEC on May 31, 2022 and in other documents we file with the SEC. Further, any forward-looking statements included in this press release represent 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.

About Barbara J. Ross

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