Biotech Values

[ghmm]

Concert Pharma (CNCE):

Anyone long/following the company who can update me on a few things?

I was always more intrigued by their early stage assets now that the late stage are becoming a much lower part of the valuation I thought to take another look but I still have some questions that make it hard to invest.

1-2nd generation Xyrem. Have they been able to figure out a good formulation is the program advancing?
2-The Deuterium Pirfenidone program (now with Teva). Is it moving forward or can they get the rights back at some point if Teva isn't advancing it?
3-the deutrerated ivacaftor what is the plan going forward (how far will they take on own, develop other CF compounds?). I don't see a logical partner even with different mechanisms one would think its still best with correctors in the mix.

I really want to like the stock since it would seem to offer a bit lower development risk and its in the 2x cash range but I don't have a good comfort level with the path forward for the three above programs and unfortunately not much confidence in management. Anyone want to help me see that its worth a deeper look?

Thanks in advance!