Quantcast

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


Shutterstock photo

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.

RELATED:

Small-Cap Biotech Dips As Sales Top, But Earnings Miss By 2 Cents

Why These Biotech Stocks Could Be Taken Over In 2018

Biogen Shares Drop After Alzheimer's Drug Misses In Testing

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 ,



More from Investor's Business Daily

Subscribe







Investor's Business Daily
Contributor:

Investor's Business Daily

Investing












Research Brokers before you trade

Want to trade FX?