Corcept terminates $60 million committed equity financing facility

Equity sale agreement with Kingsbridge Capital had raised $2.6 million

By Devika Patel

Knoxville, Tenn., Aug. 7 - Corcept Therapeutics Inc. said it has terminated a $60 million committed equity financing facility with Kingsbridge Capital Ltd. The company raised $2.6 million under the agreement.

The company also said it sold a synthetic capped royalty on future product sales to an investment fund managed by Pharmakon Advisors for $30 million.

Menlo Park, Calif.-based Corcept is a pharmaceutical company engaged in the development of medications for the treatment of severe psychiatric and metabolic diseases.

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