Investors in the pharma/biotech sector eagerly wait for pipeline updates as they play an important role in deciding whether or not to invest in a particular company. These updates provide information on experimental drugs and at times give an insight on the commercial potential of the candidate once it is successfully developed and commercialized.
Concert Pharmaceuticals, Inc. ( CNCE ) recently announced encouraging data from a phase I study on CTP-354.
The randomized, double-blind, placebo-controlled trial aimed to evaluate the safety, tolerability and pharmacokinetics of repeat dosing of 2 mg, 6 mg and 12 mg of CTP-354 for 10 days.
We note that Concert Pharma is evaluating CTP-354 for use in patients with spinal cord injury and in patients with multiple sclerosis.
It was observed from this multiple ascending dose trial that there wasn't any sedation or ataxia in patients treated with CTP-354. The candidate was well tolerated across all dose cohorts. In addition, it showed highly favorable pharmacokinetics with low variability, dose-proportional exposure and a long half life in the body.
Based on encouraging results from the trial, Concert Pharma plans to initiate phase II trials for CTP-354 later in 2014. The program includes two trials - one for the evaluation of spasticity associated with spinal cord injury and the other for the evaluation of spasticity associated with multiple sclerosis.
Apart from CTP-354, Concert Pharma's pipeline includes candidates like CTP-499 and AVP-786, among others. The company, along with partners like Avanir Pharmaceuticals ( AVNR ) and Jazz Pharmaceuticals ( JAZZ ), is working hard to develop the pipeline.
We believe that the pipeline at Concert Pharma must deliver as it currently has no approved products in its portfolio. We expect investor focus to remain on updates regarding Concert Pharma's pipeline.
Concert Pharma carries a Zacks Rank #3 (Hold). Currently, Shire ( SHPG ) looks well placed with a Zacks Rank #1 (Strong Buy).
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