Concert Pharmaceuticals Raises Gross Proceeds of $66.4 Million Through Public Offering and Exercise of Warrants

Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced the closing of its previously announced underwritten public offering of 10,000,000 shares of common stock to the public at $4.75 per share. Concert’s aggregate gross proceeds from this offering were $47.5 million, before deducting underwriting discounts and fees and other offering costs payable by Concert. Concert also announced the receipt of $18.9 million upon the exercise of Tranche 1 warrants to purchase 3,981 Series X1 Preferred Shares issued to BVF Partners LP and RA Capital Management in November 2021. Thanks to public offering and exercise of the warrants, Concert raised aggregate gross proceeds of $66.4 million.

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

The offering was made solely by means of a written prospectus supplement and a prospectus forming part of a shelf registration statement filed with the Securities and Exchange Commission (SEC) and declared effective on November 16, 2020. The final prospectus supplement and accompanying prospectus relating to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained 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 illegal 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.

About Barbara J. Ross

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