You know you're in trouble, when the new kid on the block, Crinetics, is taking shots at Strongbridge's drug. And it won't be just Crinetics going after it. It's going to be a dog pile from the competitors and would-be competitors.
Some of you wanted a lower CORT. This event may temporarily part shares from fleeing short-termers and naive retail. Hopefully.
Yes, the court case looms in the background and the decision will hit valuation. In the longer run, however, this was the more important variable. A viable form of ketoconazole would have been forever.
Remember when it was the first choice for treating Cushing's?
There will be viable competitors...someday. The Cushing's market is large and thanks to Corcept, is getting larger. It's already larger than several attractive cancer indications.