This Biotech Stock Launched After Joining The S&P 600 SmallCap

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Corcept Therapeutics ( CORT ) rocketed Thursday after joining the S&P SmallCap 600, replacing Gigamon ( GIMO ), which is being acquired by Elliott Associates.

[ibd-display-video id=3037043 width=50 float=left autostart=true] By the closing bell on the stock market today, Corcept launched 10.8% to close at 17.51 after earlier jumping as much as 17.5%.

The small-cap biotech was added to the S&P SmallCap 600 prior to the open Wednesday. On Wednesday, shares closed up 0.2%, at 15.80.

Corcept is working on drugs to treat metabolic, psychiatric and oncologic disorders. It is currently testing a drug in a Phase 1 study to treat a form of breast cancer.


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: CORT ,

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