{"id":28340,"date":"2014-08-14T09:55:01","date_gmt":"2014-08-14T13:55:01","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=28340"},"modified":"2014-08-14T09:55:01","modified_gmt":"2014-08-14T13:55:01","slug":"concert-pharmaceuticals-inc-nysejmpc-reports-sharp-decline-in-revenues","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/concert-pharmaceuticals-inc-nysejmpc-reports-sharp-decline-in-revenues-28340","title":{"rendered":"Concert Pharmaceuticals Inc (NYSE:JMPC) Reports Sharp Decline In Revenues"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/14\/2014 (wallstreetpr) \u2013<strong>\u00a0<\/strong><strong>Concert Pharmaceuticals Inc (NYSE:JMPC)<\/strong> posted financial <a href=\"http:\/\/online.wsj.com\/article\/PR-CO-20140812-905642.html\">results<\/a> for the second-quarter. \u00a0The revenues came at $1.2 million as compared to $17.4 million in 2Q2013. It was a sharp drop of $16.2 million. It recognized license revenue of $17.0 million in the second-quarter. It was under the Concert\u2019s collaboration agreement with Celgene.<\/p>\n<p style=\"text-align: justify;\"><strong>The financial figures<\/strong><\/p>\n<p style=\"text-align: justify;\">Concert Pharmaceuticals Inc (NYSE:JMPC)\u00a0reported the net loss of $8 million in second-quarter results. The cash and cash equivalents came at $98.3 million. The company reported the rise in R&amp;D expenses. The R&amp;D expenses came at $6.2 million as compared to $5.8 million in 2Q2013. The development expenses incurred in the CTP-354, treatment for spasticity resulted in higher R&amp;D expenses. G&amp;A expenses came at $2.7 million as compared to $2.3 million in 2Q2013. It came higher due to the expenses related with operating as a public company.<\/p>\n<p style=\"text-align: justify;\"><strong>The management view<\/strong><\/p>\n<p style=\"text-align: justify;\">President and CEO, Roger Tung, Ph.D. said that Concert Pharmaceuticals Inc (NYSE:JMPC)\u00a0has achieved clinical and regulatory success in the recent months. The development is significant leading Concert to step into the later stage clinical trials. The proprietary drug candidates like CTP-354 which is treatment for spasticity can achieve further success in the second half of the year.<\/p>\n<p style=\"text-align: justify;\"><strong>CTP-354<\/strong><\/p>\n<p style=\"text-align: justify;\">It is the wholly owned clinical program of the company. And therefore, the clinical advancement matters a lot of Concert Pharmaceuticals. FDA lifted the partial clinical hold on CTP-354 in July 14. \u00a0The hold was regarding the repeated doses of drug in excess of 6 mg per day. Concert will now look out for the higher dose of 12 mg per day in the trial.<\/p>\n<p style=\"text-align: justify;\">\u00a0He disclosed that Concert has plans to start the Phase 2 clinical trial for spasticity. The new trial will be related with spinal cord injury. Apart from it, Concert Pharmaceuticals Inc (NYSE:JMPC) has received the clinical advancements in the other two drug candidates. The two drugs are being developed with collaborators.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/14\/2014 (wallstreetpr) \u2013\u00a0Concert Pharmaceuticals Inc (NYSE:JMPC) posted financial results for the second-quarter. \u00a0The revenues came at $1.2 million as compared to $17.4 million [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":28344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[7909,7910],"stock_ticker":[],"class_list":["post-28340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-concert-pharmaceuticals-inc-nysejmpc","tag-nysejmpc","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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