Wednesday January 09, 2013
by Bill Mathews, editor The Cheap Investor (
courtesy of Dick Davis Digest)
Corcept Therapeutics (
CORT) engages in the discovery, development and commercialization of drugs for the treatment of severe metabolic and psychiatric disorders.
It focuses on disorders that are associated with a steroid hormone called cortisol. The company is focusing on commercializing its Korlym (mifepristone) 300 mg Tablet.
This is a once-daily oral medication for treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing’s syndrome, who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.
It is also conducting a Phase III clinical study for mifepristone, the active ingredient in Korlym, for the treatment of psychotic depression; and developing CORT 108297, a novel glucocorticoid receptor II antagonist in Phase 1b/2a clinical trial.
Corcept Therapeutics has research and development agreements with Argenta Discovery, Sygnature Discovery, ICON Clinical Research and MedAvante, Inc., as well as a patent license from Stanford University for developing mifepristone.
In July Corcept raised $46 million at $4.50 a share through institutions. In addition, insiders recently purchased almost 600,000 shares at $1.38-1.97 a share.
We like Corcept because they have several products in FDA trials, over $100 million in cash (three years burn rate), institutions and insiders are in the stock at much higher prices and the stock is currently selling near its 52 week low.
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