Tuesday's Small-Cap Winners & Losers
Corcept Therapeutics (CORT) dropped on the failure of a late-phase trial of its Corlux treatment for psychotic major depression. The drug didn't meet its primary endpoint, which dictated at least a 50% improvement in symptoms as measured by the Psychiatric Rating Scale Positive Symptom Subscale. Shares were sinking 11 cents, or 10.4%, to 93 cents.Omnova Solutions (OMN) widened its first-quarter loss to $5.1 million, or 12 cents a share, from a loss of $4.3 million, or a dime a share, a year ago. Analysts polled by Thomson Financial were looking for a loss of 2 cents a share. Revenue slipped year over year to $164.8 million -- $7.2 million under the only analyst's estimate. Shares were off 18 cents, or 2.8%, to $6.17.
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