Corcept: Still a Bad Investment

My pals over at Corcept continue to lose money. You may recall Corcept as the company that is trying desperately to get mifepristone (RU-486) approved to treat depression. The main problem has been that trial results have yielded little hope. The oft-cited (both on this site and in the psychiatric literature) Charles Nemeroff has a conflict of interest related to Corcept that you can read about here. Here's the latest on Corcept:

"(RTTNews) - Corcept Therapeutics Inc. (CORT | charts | news | PowerRating) reported a third quarter net loss of $6.4 million or $0.28 per share, compared to a net loss of $5.2 million or $0.23 per share in the same quarter of last year.

Analysts polled by First Call/Thomson Financial expected the company to report a loss of $0.28 per share.

For the nine months of 2006, the company reported a net loss of $21.0 million or $0.93 per share, compared to a net loss of $14.8 million or $0.66 per share in the year ago period. Collaboration revenue for the period was $221 thousand."

Link here.