Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ALTA BIOPHARMA PARTNERS II LP
  2. Issuer Name and Ticker or Trading Symbol
CORCEPT THERAPEUTICS INC [CORT]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
ONE EMBARCADERO CENTER, SUITE 3700
3. Date of Earliest Transaction (Month/Day/Year)
11/11/2008
(Street)

SAN FRANCISCO, CA 94111
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/11/2008   A(1)   103,519 (1) A (1) $ 1.45 5,146,818 D (2) (3)  
Common Stock 11/11/2008   A(1)   1,307 (1) A (1) $ 1.45 167,798 I By Fund (4)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ALTA BIOPHARMA PARTNERS II LP
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    
MARDUEL ALIX
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    
DELEAGE JEAN
ONE EMBARCADERO CENTER
37TH FLOOR
SAN FRANCISCO, CA 94111
    X    
CHAMPSI FARAH
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    
ALTA BIOPHARMA MANAGEMENT II LLC
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    
ALTA EMBARCADERO BIOPHARMA PARTNERS II LLC
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    
ALTA PARTNERS II INC
ONE EMBARCADERO CENTER
SUITE 3700
SAN FRANCISCO, CA 94111
    X    

Signatures

 By Alta BioPharma Management II, LLC By /s/ Jean Deleage, Managing Director   11/13/2008
**Signature of Reporting Person Date

 /s/ Alix Marduel   11/13/2008
**Signature of Reporting Person Date

 /s/ Jean Deleage   11/13/2008
**Signature of Reporting Person Date

 /s/ Farah Champsi   11/13/2008
**Signature of Reporting Person Date

 /s/ Jean Deleage, Managing Director   11/13/2008
**Signature of Reporting Person Date

 /s/ Jean Deleage, Manager   11/13/2008
**Signature of Reporting Person Date

 /s/ Jean Deleage, President   11/13/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Alta BioPharma Partners II, L.P. ("ABPII") acquired an additional 103,519 shares of Common Stock and Alta Embarcadero BioPharma Partners II, LLC ("AEBPII") acquired an additional 1,307 shares of Common Stock from the issuer pursuant to the Amendment to Registration Rights Agreement dated November 11, 2008 in full satisfaction of cash liquidated damages owed under the Registration Rights Agreement dated as of March 14, 2008. The shares of Common Stock were valued at $1.45 per share, the closing market price of the Common Stock on the NASDAQ Capital Market on November 11, 2008.
(2) These securities are held of record by ABPII. Alta BioPharma Management II, LLC ("ABMII") is the General Partner of ABPII. Jean Deleage, Alix Marduel, and Farah Champsi are managing directors and Edward Penhoet is a director of ABMII and they exercise shared voting and investment power with respect to the shares owned by ABPIII. Each of the reporting persons disclaims beneficial ownership of such securities, except to the extend of his, her or its proportionate pecuniary interest therein.
(3) Mr. Edward Penhoet is a director of the Issuer and files separate reports pursuant to Section 16 of the Securities Exchange Act of 1934, as amended.
(4) These securities are held of record by AEBPII. Alta Partners II, Inc. ("APII") provides investment advisory services to ABPIII and AEBPIII. Jean Deleage, Alix Marduel, and Farah Champsi are managers of AEBPIII and exercise shared voting and investment power over the shares held by AEBPII. Each of the reporting persons disclaims beneficial ownership of all such shares except to the extent of his or her proportionate pecuniary interest therein.

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