Concert Pharmaceuticals Announces Pricing of Public Offering

Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) today announced the pricing of an underwritten public offering of 4,752,420 shares of its common stock at a public offering price of $9.92 per share. In addition, and in lieu of common stock, Concert is offering to a certain existing investor pre-funded warrants to purchase up to an aggregate of 1,800,000 shares of common stock at a purchase price of $9.919 per pre-funded warrant, which represents the per share public offering price for the common stock less the $0.001 per share exercise price for each pre-funded warrant. The gross proceeds to Concert before deducting underwriting discounts and commissions and estimated offering expenses payable by Concert, are expected to be approximately $65.0 million. Concert has granted the underwriters a 30-day option to purchase up to an additional 982,863 shares of common stock at the offering price, less the underwriting discounts and commissions.

All securities in the offering are being sold by Concert. The offering is expected to close on or about January 30, 2020, 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 advance the clinical program for CTP-543 into Phase 3 development for alopecia areata, fund the clinical development of CTP-692 through Phase 2 for schizophrenia, and support its pipeline development, working capital needs and other general corporate purposes.

Jefferies is acting as sole book-running manager for the offering. Mizuho Securities and JMP Securities are acting as lead managers, and H.C. Wainwright & Co. is acting as co-manager for the offering.

The offering is being made only by means of a written prospectus supplement and prospectus forming part of a shelf registration statement previously filed with the Securities and Exchange Commission (SEC) and declared effective on March 7, 2018. A preliminary prospectus supplement relating to the offering was 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, 2nd Floor, New York, NY 10022, by telephone at [phone], or by email at [e-mail].