Thursday, July 25, 2013

Cushing's patients will have global access to Korlym

Happy to read this news from today.
Go big or go home.

Disclaimer: I own Corcept stock. See sidebar.

Corcept Therapeutics Announces Partnership With Idis for Global Access to Korlym(R)

Corcept Therapeutics Announces Partnership With Idis for Global Access to Korlym(R)— Corcept Therapeutics Incorporated (NASDAQ: CORT) announced today that Korlym® (mifepristone) 300 mg Tablets is available to patients outside of the United States through an Idis Access Program. Idis Access Programs enable patients around the world to be prescribed investigational or approved drugs prior to their commercial launch in that country through a regulatory-compliant and ethical channel on a named-patient basis. Corcept, a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic and psychiatric disorders, has been offering Korlym in the United States since April 2012 as a once-daily oral treatment of hyperglycemia secondary to endogenous Cushing's syndrome in adult patients who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.

Corcept is "Down but Far from Out"

The competition between Corcept and Novartis will actually provide Cushies with more treatment options after failed surgeries. The marketing efforts of both will penetrate both the medical and patient communities. -- Melissa

Disclaimer: I own Corcept stock. See sidebar.

5 Biotech Stocks That Are Down But Far From Out
Jun 24 2013, 12:59 | by Craig Keolanui | includes: ARIA, SNTA, CORT, INFI, SCMP

Sometimes having drugs earn FDA approval or even having some good trial results to go along with good cash positions simply aren't enough to keep investors entertained. When investors lose faith or question when they will ever see a return, it can initiate selling that leaves the door open to great opportunity. For these five stocks, there has recently been more selling than buying and yet not much seems to have changed. There are some approved products that have great potential, some products in trials with some positive results and even some pretty sound cash positions to consider. The time is now right to take a second look at what they each have to offer.


Corcept Therapeutics (CORT)

Corcept Therapeutics has taken its share of knocks lately primarily because the marketing of its approved drug Korlym has failed to deliver anticipated results with revenue. Korlym is approved for controlling hyperglycemia associated with Cushing's syndrome and represents the first FDA-approved oral therapy for the treatment of patients with this rare disorder. Since being launched in April of 2012, revenue growth has been slow to develop. Now Korlym faces competition from Novartis (NVS) and its competing drug Signifor which also was approved for treating patients with Cushing's syndrome in December. There is more for Corcept to prove with Korlym in treating psychotic depression and there is more marketing left to do for Cushing's syndrome in order to realize some of Korlym's potential. Some hope that Novartis and their entry into the Cushing's syndrome marketplace might actually work to Corcept's favor with their first-mover advantage with Korlym and the marketing might of Novartis educating patients and physicians alike.

Corcept has been struggling to make money, but at least has experienced increasingrevenue since April of 2012 up from $875K in 2nd quarter of 2012 to $1.7 million in the 1st quarter of this current year. Corcept even has plenty of cash reporting about $81.5 million at the end of the first quarter of this year. The $11-12 million cash burn might appear to be pretty extreme, but opening up a marketplace for Korlym to treat psychotic depression should really get things going for Corcept and its stock. The stock is down 59.3% from a year ago, now at $1.79 a share, and is a little above its 52-week low of $1.27 a share. If Novartis can help educate practitioners and patients alike to further the understanding of Cushing's disease, this could be all Corcept needs to finally break out of its slump. On the other hand, if Novartis does too well or doesn't do enough, Korlym's hopes and Corcept's too will depend on the ability to treat psychotic depression. After a nice 5.9% gain on last Friday it might be a signal that some investors think it can.