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Biotech / Medical : biotech firesales
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From: tnsaf5/7/2014 11:55:34 AM
   of 3661
 
CORT -50%
8:34 am Corcept Therapeutics reports interim analysis of data from Phase 3 Trial of Mifepristone for the Treatment of psychotic depression fails to demonstrate efficacy with statistical significance (stock halted) ( CORT) :

An interim analysis of data from the first 226 patients to enroll in Study 14 showed that the study had failed to reach its primary endpoint -- a rapid and sustained reduction in the patients' psychotic symptoms -- with statistical significance. The independent data monitoring committee advised Corcept that continuing the study to its full enrollment of 450 patients would be unlikely to generate a statistically significant result. Corcept has decided to discontinue Study 14 and redeploy resources to more promising programs, particularly in oncology. "Although the interim results of our psychotic depression study are disappointing, our own research and the research of academic investigators has shown that glucocorticoid receptor antagonism has therapeutic potential in many serious diseases," said Dr. Belanoff. "Our study of mifepristone in the treatment of triple-negative breast cancer should yield initial efficacy results in the first half of 2015; and we will move two of our next-generation compounds into the clinic this year. In addition, many other clinical studies are underway at leading academic institutions to test the effectiveness of mifepristone and our newer compounds in various indications. We expect that 2014 will be a busy and productive year."
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