Dallas, Texas 04/01/2014 (FINANCIALSTRENDS) – Corcept Therapeutics Incorporated(NASDAQ:CORT) and others similar to the product it produces Korlym are sure trendsetters in recent times. It has been found that, most drugs which report high success on small-sized trials have since failed during the later tougher parameter achievements.
Corcept Therapeutics Incorporated(NASDAQ:CORT) is yet to recover from the poor start it had with the launch of its high-expectations product- Korlym.
Background on Korlym
Korlymis believed to be one of a kind drug ideal for treating one of a kind drug such as Cushing Syndrome. It was fond that FDA offered this drug an orphan drug status, following over 7 years of marketing rights and exclusive sale rights. This was two years more than the standard 2 years which are provided during approval.
Orphan Drugs are quite often coveted pharma products and the investiture of this status for Korylm truly had Corcept Therapeutics Incorporated(NASDAQ:CORT) looking for high financial gains.
However, for CORT the troubles began when it offered 11 million of its shares as common stock for sale. It appeared that the company was jumping the gun and looking for funds to improve and deliver on the clinical side of its most ambitious drug.
However, investor sentiment continued to remain bullish, up until the announcement of the quarter results in August. The poor stand on the financial results, had many of the investors aghast and pull back in knee-jerk motion.
Corcept Therapeutics Incorporated(NASDAQ:CORT)has a market cap of $433.50 million. The company has trading range for the day at $4.26 low and $4.48 high. The company reported 52-week high of $4.48 and low of $1.47. EPs is -0.46, while the outstanding shares is 100.58 million. These stocks are found to have opened at $4.41 per share at the beginning of the trading session.