Corcept Therapeutics Announces $3 Million Private Equity Financing

Corcept Therapeutics Incorporated recently announced that it has entered into a definitive agreement with certain accredited investors for the private placement of 3 Million shares of its common stock at a price of $1.00 per share. In continuation to this agreement the investors, who are led by Paperboy Ventures LLC, have committed to purchase the shares. Sutter Hill Ventures, a venture capital firm that is currently a significant shareholder in Corcept, and members of the Corcept Board of Directors, Joseph C. Cook, Jr., David L. Mahoney and James N. Wilson, are also investors.

The Company will use the proceeds of the financing to complete investigations of the results of its Phase 3 clinical trials, for planning the continuation of the clinical development of CORLUX for the treatment of the psychotic features of psychotic major depression, and for working capital.

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the development of drugs for the treatment of severe psychiatric and neurological diseases. Corcept’s lead product, CORLUX, is currently in Phase III clinical trials for the treatment of the psychotic features of PMD. The drug is administered orally to PMD patients once per day for seven days. CORLUX, a potent GR-II antagonist, appears to mitigate the effects of the elevated and abnormal release patterns of cortisol seen in PMD. The Company is also conducting a proof-of-concept study evaluating the ability of CORLUX to mitigate weight gain associated with the use of olanzapine.

For additional information about the company, please visit www.corcept.com