Replies to post #97901 on Biotech Values

[gym gravity]

A swift kick to the nuts?

I bought more the other day because the cash was there and the timeline for two data points was near.

At least it is underwritten. They went to their favorite investors first in April who exercised warrants and bought more options. That was when Joe Cook rolled the dice again like he did on AMLN.

http://sanfrancisco.bizjournals.com/sanfrancisco/stories/2010/05/03/daily2.html?ana=yfcpc

Maybe it is the same bunch that has been pumping money into CORT for so long?
http://finance.yahoo.com/news/Corcept-Therapeutics-iw-447137706.html/print?x=0

•Raised gross proceeds of $7.7 million through the exercise of warrants that were issued in October 2009 and the private placement of new warrants. This transaction raised sufficient capital to support our operations into the second quarter of 2011. Participants in this financing included existing investors Longitude Capital, Sutter Hill Ventures, Federated Kauffman Funds, and members of our Board of Directors.

Maybe it is a bunch of new investors that were waiting for their chance.

http://finance.yahoo.com/q/mh?s=CORT+Major+Holders

Major Holders Get Major Holders for:

BREAKDOWN

% of Shares Held by All Insider and 5% Owners: 73%
% of Shares Held by Institutional & Mutual Fund Owners: 5%
% of Float Held by Institutional & Mutual Fund Owners: 17%
Number of Institutions Holding Shares: 19

Now they have enough money for two years, or to opperate at twice the speed... to me it sounds like they are preparing to take CORT 108297 as far as they can in trials before they partner it... or that it killed a few people in the PI.