On August 20, 2007, CORT announced, "....A private placement of approximately 4.8 million shares of its common stock at a price of $2.10 per share, pursuant to a definitive agreement dated as of August 16, 2007 entered into with accredited investors."
CORCEPT THERAPEUTICS ANNOUNCES $10.1 MILLION PRIVATE EQUITY FINANCING
It turns out that some of those accredited investors are some very savvy biotechnology investors with close ties to the early investors in Amylin Pharmaceuticals. Others include a host of CORT insiders comprising of Directors and/or 10% owners. What if anything do these insiders know?
A speculation from Yahoo message board:
Is CORT the next AMLN ?
As AMLN moves(short covering)to an all time high with news out soon,an interesting story aboput CORT should be known.
The major investors here are Joe Cook,Paperboy Ventures and Allan Andersson.The 3 names probably dont mean much but Amylin was pulled from the ashes by these 3 people and now as a payback Joe Cook has given Allan a heads up on this Company.
Cook the BOD chairman with Amylin hasnt forgotton his friend and that alone makes CORT interesting
CORT has a market cap of about $89MM, just small enough so that it's conceivable that a little bit of good lab/regulatory news doubles or triples the market cap and stock price in a relatively short period of time.
The private placement was at $2.10 a share on August 17, 2007. I've started buying CORT today, under $2.60 and plan to buy more as my due diligence proceeds.