Contact Information: CONTACT: Joseph K. Belanoff, M.D. Chief Executive Officer Corcept Therapeutics 650-327-3270 www.corcept.com
Caroline Loewy Joins Corcept as Chief Financial Officer
| Source: Corcept Therapeutics
MENLO PARK, CA--(Marketwire - December 2, 2008) - Corcept Therapeutics (NASDAQ : CORT ) today
announced the appointment of Caroline M. Loewy to the position of Chief
Financial Officer. She will oversee Corcept's financial operations,
business development activities, investor relations, and along with other
members of the management team, corporate strategy.
"We are pleased to have a person with Caroline's financial and
biopharmaceutical industry expertise join us at Corcept," said Joseph K.
Belanoff, M.D., Chief Executive Officer of Corcept Therapeutics.
"Caroline's broad experience will be valuable to Corcept during this
significant period in our Company's evolution, as we move CORLUX toward the
market with our two ongoing Phase III programs, and advance our second
generation selective GRII antagonists into clinical development."
Ms. Loewy most recently served as Chief Financial Officer of Poniard
Pharmaceuticals, a publicly traded biopharmaceutical company, where she was
a key driver of that company's corporate strategy, visibility among
investors, and led several successful financings. From 2004-2006 she acted
as an independent consultant to a variety of biopharmaceutical companies
advising on corporate strategy, business development, and financing. Ms.
Loewy spent 14 years in equity research and corporate finance. From
2000-2004 she was an Executive Director in biotechnology equity research at
Morgan Stanley, providing fundamental analysis and recommendations to
investors, as well as strategic advisory services to corporate clients.
She was also a Managing Director in biotechnology equity research at
Prudential Securities and held positions in corporate finance at
BankAmerica. Ms. Loewy holds a BA degree from the University of
California, Berkeley, and an MBA/MS degree from Carnegie Mellon University.
About Corcept Therapeutics Incorporated
Corcept is a pharmaceutical company engaged in the development of drugs for
the treatment of severe psychiatric and metabolic disorders. The company's
lead programs are the development of CORLUX for the treatment of the
psychotic symptoms of psychotic depression and for Cushing's Syndrome.
Both of the programs are in Phase 3.
Corcept has also developed an extensive intellectual property portfolio
that covers the use of GRII antagonists in the treatment of a wide variety
of psychiatric and metabolic disorders, including the prevention of weight
gain caused by the use of antipsychotic medication. The company has also
discovered and filed patents for the three different series of compounds
which block cortisol's activity at the GRII receptor but do not block the
progesterone receptor. CORT 108297, a potential lead compound from these
series, recently produced encouraging results in a human microdosing
study. The compound was extremely well absorbed, demonstrated good
bioavailability and had a half-life that appears compatible with once-a-day
oral dosing.
Statements made in this news release, other than statements of historical
fact, are forward-looking statements, including, for example, statements
relating to Corcept's clinical development and research programs.
Forward-looking statements are subject to a number of known and unknown
risks and uncertainties that might cause actual results to differ
materially from those expressed or implied by such statements. For
example, there can be no assurances with respect to the cost, rate of
spending, completion or success of clinical trials; financial projections
may not be accurate; there can be no assurances that Corcept will pursue
further activities with respect to the development of CORLUX, CORT 108297,
or any of its other selective GR-II antagonists. These and other risk
factors are set forth in the Company's SEC filings, all of which are
available from our website (www.corcept.com) or from the SEC's website
(www.sec.gov). We disclaim any intention or duty to update any
forward-looking statement made in this news release.