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Fly News Breaks for August 2, 2017
CORT
Aug 2, 2017 | 09:09 EDT
Janney Capital analyst Debjit Chattopadhyay noted Corcept Therapeutics' "much anticipated" data from the phase 2 study for the follow-on replacement for Korlym has been pushed out to 1Q18 from 2H17. He questions whether that is a reflection on CORT125134 or it is a go-slow strategy to deter an ANDA filing, he tells investors. The analyst, who believes that emerging competition and a potential generic threat are not adequately reflected in the current price of Corcept shares, keeps a Sell rating and $6 fair value estimate on the stock.
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