The company said that it will be the sole marketer of Korlym
and will be marketed as a once-daily oral medicine to control hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome who have diabetes mellitus type 2 or glucose intolerance and have failed surgery or are not candidates for surgery.
For the rest of 2011, Corcept Therapeutics will focus efforts on obtaining FDA approval and commercial launch of Korlym
for the treatment of Cushing's Syndrome.
Relacorilant, our candidate to succeed Korlym
, began Phase 3 last year.
Corcept Therapeutics (CORT) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Charles Duncan saying the stock rallied 32% yesterday to $17.17 as a result of the United States Patent and Trademark Office granting a new utility patent for Korlym
Corcept Therapeutics Incorporated (CORT) announced that Judge Susan Wigenton of the United States District Court for the District of New Jersey has denied Teva Pharmaceuticals USA, Inc.'s (TEVA) motion to dismiss a lawsuit brought by Corcept alleging infringement of patents relating to the use of Korlym
, Corcept's medication for the treatment of patients with endogenous Cushing's syndrome.
Shares down 26.5% YTD and saw notable volatility in February on reports TEVA was developing a generic version of KORLYM
(TEVA) for infringement of Corcept patents covering the use of Korlym
300 mg Tablets.