Decent volume with several 10K to 100K block between $20.05 and $20.15. Maybe today is last day for institutions to sell out before the holiday slowdown. Perhaps shorts are covering a bit.
I remain very disappointed with how the news about AIWG leaked out (pushing stock from high 20s to low 20s before PR), then we get the data free PR, which alas was typical SMID biotech BS. Remarkable in that it was so different from how Corcept has handled trial readouts in the past. Not sure who should get the blame but the new crew (CMO / CFO) raise concern.
Makes it impossible to gauge if there is any future for Miracorliant, so I continue to put 0 value until we see dataset in AIWG and see the dosing dataset from P1 in NASH.
With zero value on Mira, the stock becomes attractive under $20 based on flatish Kormlyn sales for 2023 /24, and then Relacorlaint kicking up revenue growth in 2025 (assuming FDA approval in Cushng's, and pipeline moving forward in Oncology indications).