Concert Pharma shares hit low note on patent challenge denial

Lexington-based Concert Pharmaceuticals Inc. lost more than a quarter of its market value — around $150 million — Friday after news that the U.S. Patent and Trademark Office didn’t grant its petition challenging a patent for a drug to treat an autoimmune skin disease. Concert (Nasdaq: CNCE), a 12-year-old biotech with 66 employees, said Friday morning that the Patent Trial and App eal Board has decided not to grant a post grant review petition seeking to invalidate the patent for ruxolitinib,…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news