MENLO PARK, Calif. (AP) ¿ Drug developer Corcept Therapeutics Inc. said Tuesday its third-quarter loss narrowed on lower costs and expenses.
The company lost $4.7 million, or 9 cents per share, compared with a loss of $5.6 million, or 11 cents per share, during the same period a year prior. Corcept reported no revenue during the quarter, compared with $66,000 a year prior.
Analysts polled by Thomson Reuters expected a loss of 10 cents per share.
Operating expenses fell 6 percent to $4.7 million.The company is developing Corlux as a treatment for the psychotic features of depression and for Cushing Syndrome, which is a hormone disorder. Shares of Corcept fell 1 cent to $2.22 in midday trading.