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Corcept Therapeutics Announces Phase 3 Study Evaluating Corlux for,Psychotic Major Depression Misses Primary Endpoint

STATISTICALLY SIGNIFICANT CORRELATION BETWEEN PLASMA LEVELS AND CLINICAL OUTCOME ACHIEVED DURING TREATMENT

Management will host a conference call and live webcast on March 20, 2007 at 9:00 a.m. EDT

MENLO PARK, Calif. (March 19, 2007) – Corcept Therapeutics Incorporated (NASDAQ: CORT), today announced that Study 06, the last of three Phase 3 trials evaluating CORLUX for treating the psychotic features of Psychotic Major Depression (PMD), did not achieve statistical significance with respect to its primary endpoint. However, there was a statistically significant correlation between plasma levels and clinical outcome achieved during treatment. Further, the company reported that the incidence of serious adverse events did not differ between placebo and any of the three CORLUX dose groups.

Patients whose plasma levels rose above a predetermined threshold statistically separated from both those whose plasma levels were below the threshold and those patients who received placebo. This confirmed a similar finding in Study 07, another Phase 3 trial testing CORLUX for PMD completed in 2006.

“While we are disappointed that the trial did not meet the primary endpoint, we are particularly encouraged to have met the important predefined threshold concentration endpoint with statistical significance,” said Joseph K. Belanoff, M.D., Corcept’s Chief Executive Officer. “This study confirms our previous observation that at higher plasma levels the drug candidate is able to demonstrate desired clinical effects. In particular, those patients in Study 06 who achieved a predetermined level of 1661 nanograms of CORLUX per milliliter of plasma separated from the placebo group with statistical significance.”

Commenting on these results, Ned H. Kalin, M.D., Hedberg Professor and Chair of the Department of Psychiatry at the University of Wis
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