Jul. 7 at 2:20 PM
$CORT
SHORTS TRYING TO SCARE WEAK HANDS
CORT is expected to lose on appeal today. It was already baked in. The outcome is that TEVA, which has been selling since January of 2024 will continue to sell. A CORT LOSS MEANS NOTHING WILL CHANGE.
More importantly, Relacorilant, which has a better profile, should get approved in a few months, and then Korlym and Teva will be completely irrelevant.
However, should CORT win the appeal, they will have massive damages against TEVA (think hundreds of millions of dollars possibly over
$1 billion). Stock should spike to over
$100.
At any rate, shorts are clearly trying to spook people. CORT sub
$70 is deal of a lifetime. Guidance remains
$900MM+ this year, massive cash pile, huge opportunities in Cancer, ALS, MASH, etc. etc.
Christmas has come early. Shorts will get squeezed. Stock is worth
$150 as it sits (assuming CORT loses appeal today).
