Corcept hits record high as ovarian cancer drug succeeds late-stage trial
Shares of drugmaker Corcept Therapeutics CORT.O soars as much as 91.7% to record high of $104.73
Stock last up 83.6% at $100.29
CORT says its experimental drug for ovarian cancer in combination with chemotherapy met the main goal of a late-stage trial
Co says the drug, relacorilant, when combined with chemotherapy agent nab-paclitaxel, showed a 30% reduction in disease-progression risk in platinum-resistant ovarian cancer patients, compared with those treated with chemotherapy alone
*Canaccord Genuity analyst Edward Nash estimates peak sales of $1.3 billion for relacorilant by 2036
Platinum-resistant ovarian cancer is a type of ovarian cancer that doesn't respond to platinum-based chemotherapy treatments, which are typically used as a first-line therapy
Including session's moves, CORT shares more than double YTD
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