Corcept Therapeutics Incorporated (NASDAQ:CORT) Files An 8-K Regulation FD DisclosureItem 7.01
As previously disclosed, on August7, 2017, Dohmen Life Science Services, LLC (“DLSS”) filed a complaint in the Court of Chancery of the State of Delaware against Corcept Therapeutics Incorporated (“Corcept”) relating to Corcept’s termination of the pharmaceutical services agreement between Corcept and DLSS (the “Agreement”). On August29, 2017, Corcept filed a complaint against DLSS in the Superior Court of the State of Delaware and a motion to dismiss the DLSS complaint against Corcept. On November10, 2017, Corcept answered DLSS’s complaint in the Court of Chancery of the State of Delaware and asserted counterclaims against DLSS and its parent company, The F. Dohmen Co. (The F. Dohmen Co. and DLSS collectively, “Dohmen”).
On January11, 2018, Corcept and Dohmen entered into a settlement agreement and mutual release of any and all claims that may have existed between the parties as of that date. to the settlement agreement, Dohmen agreed to deliver to Corcept all of the cash Dohmen had collected from the sale of Korlym on Corcept’s behalf. The total amount delivered by Dohmen to Corcept under the settlement agreement was $12,896,127.50.
The information in this Item 7.01 shall not be deemed filed for purposes of Section18 of the Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information in this Item 7.01 is not incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Corcept, whether made before or after the date hereof, regardless of any general incorporation language in the filing unless specifically stated so therein.
About Corcept Therapeutics Incorporated (NASDAQ:CORT)
Corcept Therapeutics Inc. is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company’s focus is on those disorders that are associated with a steroid hormone cortisol. Elevated levels and abnormal release patterns of cortisol have been implicated in a range of human disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR). It has also discovered approximately three structurally distinct series of selective cortisol modulators, all of which share mifepristone’s affinity for GR but, unlike mifepristone, do not bind to the progesterone receptor, and so do not terminate pregnancy or cause other side effects associated with progesterone receptor antagonism. It has begun pre-clinical and clinical development of its lead compounds from these series.
