Thanks to Alan, we learned about ORIC pharma joining in the GR modulation space in treatment of Prostate cancer.
Now we see them raising a $55mm round to fund P2 trial. Remember that they are about 2-3 yrs behind Corcept and also that Corcept has a much earlier / extensive patent estate that at a minimum will result in litigation down the road with IMHO a settlement with royalty payments to Corcept should the compound get to market. That is way in the future.
But now the positive is an external validation of this approach. Charles Sawyer of MSKCC, who is a top expert's expert in prostate oncology is a founder. And look at who are the investors in this round below -- all smart biotech folks. Only a matter of time when others see the opportunity in Corcept.
If you think that GR modulation has promise in Oncology, IMHO you get that for free along with the expanded metabolic indications (anti-psy wt gain & NASH) when you buy Corcept stock as the current market cap is supported entirely by the Cushing's franchise alone (Kormlyn & Relacorliant).
Also for those who follow biotech space closely, Richard Heyman is the chairman of board at ORIC !!.... https://oricpharma.com/board-of-directors/
Excerpt from today's Endpoints News / John Carroll:
"The cash is being used to field a slate of new studies for solid tumors, with combos using Abraxane and an androgen receptor modulator for prostate cancer.
ORIC has now raised more than $175 million altogether, and the executive team brought together a big syndicate for this one: Arrowmark Partners and Invus Opportunities, joined Hartford HealthCare Endowment, Casdin Capital, and others in the new investor column. Also participating were ORIC's existing investors, including The Column Group, TopSpin Partners, OrbiMed, EcoR1 Capital, Fidelity Management & Research Company, City Hill Ventures, Memorial Sloan Kettering Cancer Center, Kravis Investment Partners, Foresite Capital, and Taiho Ventures."