Corcept Therapeutics plans public offering of 11 million common shares

Credit Suisse assists; deal funds research and development activities

By Devika Patel

Knoxville, Tenn., July 3 - Corcept Therapeutics Inc. will price a public sale of 11 million common shares, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission. There is a greenshoe of 1.65 million shares.

Credit Suisse will assist.

Settlement is expected July 6.

Proceeds will be used for research and development activities, including clinical trials, and working capital and for general corporate purposes, as well as acquisitions and investments.

The company's stock (Nasdaq: CORT) closed at $4.49 per share on June 29.

The Menlo Park, Calif.-based pharmaceutical company develops medications for the treatment of severe psychiatric and metabolic diseases.

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