Pharma Stocks: Why Corcept Therapeutics Stock Is Soaring 24% Today

Corcept Therapeutics (NASDAQ:CORT) is leading pharma stocks news on Thursday with approval from the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board (PTAB).

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According to a news release from Corcept Therapeutics, the PTAB has issued a decision that uploads the validity of the pharma company’s U.S. Patent No. 10,195,214. This is the company’s patent for “Concomitant Administration of Glucocorticoid Receptor Modulators and CYP3A Inhibitors” that expires in 2037.

Joseph K. Belanoff, MD, CEO of Corcept Therapeutics, had the following to say about the news.

“We are gratified by the PTAB’s decision. The ‘214 patent is directed to an important medical discovery – that, with dose-adjustment as set forth in its FDA-approved label, Korlym® can be safely co-administered with medications known as strong CYP3A inhibitors, including commonly-prescribed antiviral, antibiotic, antifungal and antidepressant medications. Patients with Cushing’s syndrome often experience significant co-morbidities. We are glad that our research has increased the array of medications available to the physicians who treat them.”

Corcept Therapeutics is a pharma company focused on the creation of drugs to treat severe metabolic, oncologic, as well as psychiatric disorders. These drugs do so by affecting the stress hormone cortisol.

Corcept Therapeutics owns a large collection of patents in the U.S. and other countries covering cortisol modulators and the use of them in treatments. Korlym, a drug from the company, was the first to get approval in the U.S. for treating Cushing’s syndrome, which is caused by cortisol being overactive.

CORT stock was up 24.2% as of noon Thursday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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