Corcept in $30M royalty deal

Corcept Therapeutics Inc. (NASDAQ:CORT) granted a Pharmakon Advisors fund rights to receive up to $45 million in royalties on Corcept's products in exchange for $30 million in cash. In April, Corcept launched Korlym mifepristone -- its first marketed product -- in the U.S. to treat Cushing's syndrome, a hormonal disorder caused by prolonged exposure to high levels of cortisol. Second quarter sales of Korlym were $875,000. ...