Corcept down big on halt of Phase 3 trial

Shares of Corcept Therapeutics (CORT -50%) crater on heavy volume in response to its earnings report today that included a disclosure that it was discontinuing Study 14, a Phase 3 clinical trial to assess the efficacy of mifepristone for psychotic depression. The DMC advised the company that continuing the study to its full enrollment would not likely produce a statistically significant result regarding its primary endpoint.

Net product revenues: $4.4M (+158.8%); operating loss: ($12.9M) (-18.3%); net loss: ($13.9M) (-14.9%); loss/share: ($0.14) (-16.7%).

2014 guidance: revenues: $25M - 289M, up from $24M - 28M.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs