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Corcept Therapeutics announces Initial Public Offering

Corcept Therapeutics Incorporated (NASDAQ: CORT) announced today the initial public offering of 4,500,000 shares of its common stock at $12.00 per share. All of the shares are being offered by Corcept. The shares will be quoted on the Nasdaq National Market under the symbol "CORT" beginning April 14, 2004. The underwriters have a 30-day option to purchase from Corcept up to 675,000 additional shares of common stock to cover over-allotments, if any.

The representatives for the several underwriters in the offering are Thomas Weisel Partners LLC, Piper Jaffray & Co. and Legg Mason Wood Walker, Incorporated. Copies of the prospectus relating to the offering may be obtained from Thomas Weisel Partners LLC at One Montgomery Street, Suite 3700, San Francisco, CA 94104.

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the development of drugs for the treatment of severe psychiatric and neurological diseases. Corcept's lead product candidate, CorluxTM, is currently in Phase III clinical trials for the treatment of the psychotic features of psychotic major depression.

The offering is made only by means of a prospectus. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.


CONTACT:
Fred Kurland
Chief Financial Officer
Corcept Therapeutics
650-327-3270
ir@corcept.com
www.corcept.com

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