Corcept 3Q Loss Narrows On Lower Costs

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.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More from Technology

Musk's Tweets About Unions Draw Fire From United Auto Workers

Musk's Tweets About Unions Draw Fire From United Auto Workers

PayPal Wants to Consolidate the World of Rewards Points

PayPal Wants to Consolidate the World of Rewards Points

Tesla Just Hit a Pair of Big Milestones for the Model 3

Tesla Just Hit a Pair of Big Milestones for the Model 3

Is Apple Botching Its Autonomous Driving Opportunity?

Is Apple Botching Its Autonomous Driving Opportunity?

Apple Teams With Volkswagen for Autonomous Driving Gig

Apple Teams With Volkswagen for Autonomous Driving Gig