PTAB denies Concert's challenge to Jakafi patent

Concert Pharmaceuticals Inc. (NASDAQ:CNCE) lost $7.53 (27%) to $20.15 on Friday after the U.S. Patent Trial and Appeal Board declined the company’s post grant review (PGR) petition challenging U.S. Patent No. 9,662,335, which covers Jakafi ruxolitinib from Incyte Corp. (NASDAQ:INCY). Concert said it does not expect the decision to affect clinical timelines for CTP-543, its oral deuterium-modified formulation of ruxolitinib in development to treat alopecia areata.

Third-party entities may petition for PGR within nine months of a patent's issuance. A court may institute a PGR if it determines it is more likely than not that at least one of the patent’s challenged claims is unpatentable. Concert, which submitted its PGR petition in June 2017, said it is not prohibited from challenging the validity of Incyte’s patent at a later date in federal court...