With the news out on NASH trial by Madrigal (MDGL) and the market turning bullish on that indication, it highlights the mistake by Corcept of the vapid, data free PR on Mira.

 

Without any dosing data on the P1 (other than the hopium PR about P2 next year) we got a bit of the benefit of this positive shift in market sentiment.

 

That being said IF what Bill Guyer said turns out to be really true, the stock should be substantially higher.  Key is how much one buys the idea that at substantially lower Mira dose we will have the large liver fat reduction without elevating liver enzymes.

 

Had Corcept released some P1 dosing data behind the statement we would all know.  They did not, so we get a modest bump until we see the data....had they released data behind their expectation of P2 then we would IMHO be back to $23-25