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Corcept Therapeutics Incorporated Message Board

  • nowwheretogo22004 nowwheretogo22004 Feb 24, 2012 9:52 AM Flag

    Should be an interesting day for CORT

    They have an investor conference on Monday at Citi Healthcare.

    They have $40M in cash and no need to ever use their "shelf registration". For those who don't know, practically all biotech companies file for the right to sell more shares to raise capital. They all do this, and CORT would have need to do that, if the stock was NOT approved by the FDA. So, there financials are fine, since they will be starting to sell Korlym in May.

    The U.S market size for Korlym still seems to be in question. I saw one that said the market of 5,000 patients at $75k per year, would be $375M per year in sales! So what if only 3,000 patients and $75k is one of the lower numbers I have seen. That would still be $225M. The current market cap is only $350M. So, that would value the company at 1.5 times sales! Wow, that's low.

    They also have the ability to do a deal for European rights, they have the drug in Phase III trials for psychotic use.

    I just find it hard to believe that this won't be going up nicely at the end of the day. After the Citi Healthcare conference, many other large investors will be sniffing out this opportunity.

    FYI - I grabbed 4,000 shares at 4.04 before I could finish typing this.

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