Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the development of drugs for the treatment of severe psychiatric and neurological diseases. Our lead product, CORLUX, is currently in three Phase 3 clinical trials for the treatment of the psychotic features of psychotic major depression (PMD), a disorder that affects approximately three million adults in the United States each year and for which there are no FDA - approved treatments. The drug is administered orally to PMD patients once per day for seven days. CORLUX, a potent GR-II antagonist, appears to mitigate the effects of the elevated and abnormal release patterns of cortisol seen in PMD. In August 2006 we announced negative top line results of one of our three Phase 3 studies. We expect to report the results the second study in September and the third in late 2006 or early 2007. Our program has been granted "fast track" status by the FDA. We have also initiated a proof-of-concept study evaluating the ability of CORLUX to mitigate weight gain associated with the use of olanzapine.