Sep. 5 at 2:50 PM
$CORT
Since June, shorts have been working to cast doubt on CORT's ovarian cancer program. They have shown up at medical meetings, harassed physicians, and pushed the stock from
$77 down to sub
$70 . This
$750 million market cap drop was driven almost entirely by their lies, chiefly that the FDA is going to reject the NDA filing. Today the stock is priced as though FDA has already rejected the filing. However, after considerable analysis, I believe the FDA will ACCEPT the oncology filing for review. Since the filing was submitted on July 14th, we should hear by the middle of this month. The Ovarian data is so compelling that the stock was over
$100 when it was first announced. It is crazy that everyone has since written it off. The stock might return to
$100 on an FDA acceptance of the filing, but I believe a return to high
$70S/
$80S is the baseline. Shorts have done an impressive job convincing everyone the Ovarian Cancer program is dead. We will find out shortly. See you at
$80+
