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

To: Jibacoa who wrote (2653)	6/7/2010 4:46:54 PM
From: Jibacoa	1 Recommendation Read Replies (1) \| Respond to of 3722

CORT has been burning its cash at a good clip.<g> Today it bounced up from support ta the $3 level and closed near its intraday H,up 5.42% albeit I can see that there is some profit taking AHs as I am writing this note.<g> Volume was low, but about 2Ks above its ADV bigcharts.marketwatch.com Last month it reported its 1stQ results and said that it has almost completion thef enrollment for the PIII of CORLUX for Cushing's and had started a PI of CORT 108297, in February. They expect to submit an NDA for the use of CORLUX in Cushing's by year end.<g> The insiders hold a majority of the stock. The ACTAY is $5.33 But the stock has a good amount of resistance from the $3.75 to the $3.95 level,and will probably need some good news as well as probably some further financing.<g> As mentioned the stock seems to have support at the $3 level, but it seems better to wait and see if it can close above $4 <g> bigcharts.marketwatch.com Bernard