Stifel analyst Adam Walsh said he would recommend being a buyer of Concert Pharmaceuticals (CNCE) following the "excellent" deal the company announced with Vertex (VRTX), stating that the transaction will provide Concert with the resources to fully focus on its alopecia areata treatment while also allowing for additional pipeline expansion. The analyst, who notes he is reworking his model assumptions following the news, currently has a Buy rating and $21 price target on Concert shares.

Vertex Pharmaceuticals and TreeFrog Therapeutics announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-Stem, to optimize production of Vertex's cell therapies for type 1 diabetes, or T1D. TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies. TreeFrog's proprietary technology platform, C-Stem, is designed to mimic the natural microenvironment, allowing cells to grow exponentially in 3D. The technology will enhance Vertex's ability to generate large amounts of fully differentiated cells for its portfolio of T1D cell therapies.