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October 25, 2007 Stock Pick: Corcept Therapeutics, Inc. (CORT)

Stock Price: $3.83 (short-term)

Corcept Therapeutics Incorporated (CORT) is a pharmaceutical company engaged in the development of medications for the treatment of severe psychiatric and metabolic diseases. The Company’s lead product candidate, Corlux, modulates the effect of cortisol by selectively blocking the binding of cortisol to one of its two known receptors, the GR-II receptor, also known as the Type II or GR receptor.

CORT’s Corlux is in phase III trials for treatment of psychotic depression and trials will begin late in Q4 for treatment of Cushing’s syndrome. Cushing’s syndrome is a metabolic disease attributable to increased levels of cortisol.

CORT has a market cap of only around $133.0 million and only around 7.0 million shares in the float.

Insiders purchased large amounts of CORT in late September and own a significant percentage of the outstanding shares. Institutions own only 4.10% of the current outstanding shares leaving room for institutions to still move into CORT.

CORT has a current ratio of 9:1 and is in position for a short-term move, but its growth potential indicates a solid long-term play as well.

CORT just broke through its 50-day moving average after a correction. This correction came after a solid uptrend. We believe CORT is ready to start a new leg higher.

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