Corcept Therapeutics Inc.
) recently released preliminary results for the fourth quarter
and full year 2012.
Corcept expects fourth quarter revenues to come around $1.4
million, up 27.3% from the third quarter.
Revenues for 2012 are projected at $3.3 million. Corcept
expects to end 2012 with a cash balance of $93.0 million, down
8.5% from the third quarter level.
The cash balance is expected to double from Dec 2011.
In Apr 2012, Corcept began offering its first product, Korlym
(mifepristone) 300 mg tablets after getting approval from the U.S
Food and Drug Administration (FDA) in Feb 2012.
We note that mifepristone is a potent glucocorticoid receptor
II (GR-II) antagonist.
Korlym is approved in the US as a once-daily oral medication
for treatment of hyperglycemia secondary to hypercortisolism in
adults suffering from endogenous Cushing's syndrome who have type
II diabetes or glucose intolerance.
Corcept currently has an ongoing phase III study of
mifepristone, the active ingredient in Korlym, for the treatment
of psychotic depression.
Corcept also discovered three series of novel selective GR-II
antagonists in 2012 and plans to develop it further in 2013 for
We note that Corcept enjoys orphan drug designations for
Korlym from the FDA for the approved indication.
Korlym was also approved by the European Commission for the
treatment of endogenous Cushing's syndrome in Oct 2011.
The key objective in 2013 will be the successful
commercialization of Korlym.
Corcept currently carries a Zacks Rank #3 (Hold). Pharma
stocks, which are currently well placed include
Eli Lilly and Company
Avanir Pharmaceuticals Inc
) with a Zacks Rank #2 (Buy).
AVANIR PHARM (AVNR): Free Stock Analysis
BAYER A G -ADR (BAYRY): Free Stock Analysis
CORCEPT THERAPT (CORT): Free Stock Analysis
LILLY ELI & CO (LLY): Free Stock Analysis
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