The FTC (Federal Trade Commission) has terminated the waiting period for the sale of CTP-656 to Vertex Pharmaceuticals. CTP-656 is the deuterated version of Kalydeco which is approved for people with Cystic Fibrosis. This is another hurdle cleared which we wrote about CNCE: Three Hurdles to Clear. The company will now hold $260 million in cash or around $11.55 per share in cash. The third and last hurdle to clear will be the patent challenge for drug CTP-543 by Incyte Corporation. This one will take longer to circumvent. Thank you for reading.
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