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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2637)	10/13/2009 4:11:18 PM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

CORT had a good spike today. <g> The stock has more than doubled since the move started on July 20 from the $9.75 level The stock is off from its intraday H of $2 but still up 22.45% on volume of > 458,600 about 20x its ADV bigcharts.marketwatch.com It announced today that it has entered into an agreement with certain investors to raise approximately $18M in a private placement through the sale of shares of its common stock and warrants. The net proceeds from the offering is expected to be enough to fund the completion of the PIII of CORLUX for Cushing's Syndrome and the submission of its NDA, as well as for general corporate purposes, including working capital.<g> CORT has agreed to sell up to approximately 12.6M units for $1.43 per unit. The units will consist of one share of its common stock and one warrant to purchase 0.35 shares at $1.66. With some good news and a close above the resistance at $2 the stock could still get to test the $3 level.<g> bigcharts.marketwatch.com Bernard