Corcept Therapeutics Inc Stock Price, News & Analysis

Corcept Therapeutics reported strong financial results for Q4 2021, with revenue of $98.8 million, up from $85.7 million in Q4 2020. Total revenue for 2021 reached $366.0 million, compared to $353.9 million in 2020. The company announced a positive revenue guidance for 2022 of $400 - $430 million. Q4 GAAP net income was $32.1 million, an increase from $26.0 million year-over-year. Corcept plans to launch a Phase 2 trial for ALS and has ongoing trials for ovarian cancer and NASH, projecting significant data releases throughout 2022.

Corcept Therapeutics (CORT) will report its fourth quarter and full-year 2021 financial results on February 15, 2022, followed by a corporate update. A conference call will be held that day at 5:00 p.m. ET.

The company has developed proprietary compounds to modulate cortisol effects and is conducting clinical trials for several serious disorders, including Cushing’s syndrome, ovarian cancer, and more. Korlym®, its FDA-approved medication for Cushing’s syndrome, highlights its market presence.

Corcept Therapeutics (NASDAQ: CORT) announced the final results of its tender offer to purchase up to 10,000,000 shares of common stock, which expired on December 15, 2021. A total of 31,661,302 shares were tendered. Corcept has accepted for purchase 10,000,000 shares at $20.75 each, totaling $207.5 million. This acquisition represents approximately 9% of the total shares outstanding. Due to high participation, about 35% of the properly tendered shares were accepted on a pro-rata basis. Unaccepted shares will be returned to stockholders promptly.

Corcept Therapeutics (NASDAQ: CORT) announced preliminary results for its tender offer to buy up to 10 million shares of common stock, which ended on December 15, 2021. A total of 31,743,651 shares were validly tendered at or below the maximum purchase price of $23.75. Corcept plans to purchase approximately 10 million shares at $20.75 each, totaling around $207.5 million. Due to oversubscription, only about 35% of the tendered shares will be accepted. Following the buyback, approximately 105,933,592 shares will remain outstanding.

Corcept Therapeutics (NASDAQ: CORT) announced a Tender Offer to purchase up to 10,000,000 shares of its common stock, with a price ranging between $20.75 and $23.75 per share, closing on December 15, 2021. The Board of Directors deemed it advisable to proceed with the offer, despite stock price fluctuations, and opted not to terminate the offer. The Tender Offer's terms remain unchanged except for the waived price condition. No recommendations were made regarding shareholder participation.

Corcept Therapeutics (NASDAQ: CORT) has announced an extension of its tender offer for shares of common stock, moving the expiration from December 7, 2021, to December 15, 2021. A total of 8,282,336 shares have been tendered so far, with the offer contingent on at least three million shares being accepted. Stockholders who have already tendered their shares do not need to take further action. The terms of the tender offer remain unchanged, and the company has not made recommendations regarding participation.

Corcept Therapeutics (NASDAQ: CORT) will present at two upcoming investor conferences. The Jefferies London Healthcare Conference is on November 16, 2021, at 5:00 pm GMT, featuring a fireside chat format. The Evercore ISI 4th Annual HealthCONx Conference is scheduled for November 30, 2021, at 11:20 am EST, also in a fireside chat format.

Corcept specializes in developing drugs for serious metabolic, oncologic, and neuropsychiatric disorders by modulating cortisol. Its product Korlym® is FDA-approved for Cushing’s syndrome, supported by a robust portfolio of proprietary cortisol modulators.

Corcept Therapeutics (CORT) announced a modified Dutch Auction tender offer to purchase up to 10 million shares at prices between $20.75 and $23.75 per share. This offer is aimed at maximizing stockholder value and allows investors to sell their shares back to the company. The tender offer will expire on December 7, 2021, unless extended. At the close of trading on November 5, 2021, CORT shares were priced at $20.68. The offer is contingent upon at least three million shares being submitted. Specific terms are detailed in the offer documentation.

Corcept Therapeutics reported third-quarter results for 2021, achieving $96.1 million in revenue, an 11% increase year-over-year. GAAP diluted net income rose to $0.24 per share from $0.17 in the same quarter of 2020. Cash and investments totaled $495.2 million, up from $471.6 million. The company tightened its 2021 revenue guidance to $365 – $375 million. Key developments include ongoing clinical trials for various conditions, including Cushing’s syndrome, with a New Drug Application (NDA) submission expected in Q2 2023.