Corcept Therapeutics Inc Stock Price, News & Analysis

Corcept Therapeutics (NASDAQ: CORT) announced encouraging results from a Phase 2 trial involving 178 patients with recurrent platinum-resistant ovarian cancer. The trial, featured at ESMO 2021, showed that women treated with nab-paclitaxel and relacorilant experienced significant improvement in progression-free survival (PFS). The Intermittent arm demonstrated a median PFS of 5.6 months compared to 3.8 months in the Comparator arm. Corcept plans to initiate a pivotal Phase 3 trial in early 2022 to confirm these findings.

Corcept Therapeutics (CORT) announced positive results from its 178-patient Phase 2 trial of relacorilant combined with nab-paclitaxel for treating recurrent platinum-resistant ovarian cancer. The findings will be presented at the ESMO conference on September 17, 2021. The trial demonstrated a significant benefit in delaying disease progression without increasing side effects. CEO Joseph K. Belanoff expressed optimism about the drug's potential and revealed plans to initiate a pivotal Phase 3 trial in early 2022 to validate these results.

Corcept Therapeutics (NASDAQ: CORT) announced the appointment of William Guyer, PharmD, as Chief Development Officer effective August 16, 2021. Guyer, who previously worked at Gilead Sciences, brings nearly 30 years of experience in medical affairs and drug development. His expertise includes launching treatments in complex disease areas, advancing compounds from research to commercialization. Under his leadership, Corcept aims to enhance its clinical programs for cortisol modulation, targeting severe metabolic, oncologic, and psychiatric disorders. The company's drug Korlym is FDA-approved for Cushing's syndrome.

Corcept Therapeutics (CORT) reported Q2 2021 revenue of $91.6 million, up from $88.6 million in Q2 2020, with a GAAP net income of $26.5 million ($0.21 per share), down from $28.3 million in the previous year. Non-GAAP net income was $38.2 million ($0.30 per share). The company's cash and investments increased to $471.6 million. Corcept reiterated its 2021 revenue guidance of $355 – $385 million. The CEO highlighted growth due to easing COVID-19 restrictions and advancements in clinical trials, particularly for their treatment relacorilant.

Corcept Therapeutics (NASDAQ: CORT) is set to announce its second quarter financial results and provide a corporate update on July 29, 2021, at 5:00 p.m. ET. The company, known for treating severe metabolic, oncologic, and psychiatric disorders through cortisol modulation, will host a conference call that day. Interested participants can join via a provided link or by dialing in 15 minutes prior to the call. A replay of the call will be available until August 12, 2021.

Corcept Therapeutics (NASDAQ: CORT) announced the appointment of Amy Flood as Chief Human Resources and Communications Officer. Flood brings nearly 25 years of experience, mainly from Gilead Sciences, where she played a key role in team development and communications. CEO Joseph K. Belanoff expressed confidence in her abilities to help Corcept tackle challenges as it expands its commercial business and develops its portfolio of selective cortisol modulators.

Corcept Therapeutics (NASDAQ: CORT) has halted enrollment in its RELIANT trial for relacorilant combined with nab-paclitaxel in patients with metastatic pancreatic cancer. Interim results show a 6% partial response and 48% stable disease among treated patients; however, the benefits do not justify further studies for end-stage pancreatic cancer. The company is moving forward with a Phase 3 trial in platinum-resistant ovarian cancer and evaluating relacorilant for earlier-stage pancreatic cancer and other solid tumors.

Corcept Therapeutics (NASDAQ: CORT) announced a settlement with Sun Pharmaceutical Industries, resolving ongoing patent litigation regarding Korlym®, a treatment for Cushing's syndrome. The agreement allows Sun to market a generic version starting October 1, 2034, or earlier under specific circumstances. CEO Joseph K. Belanoff emphasized that this resolution enables the company to focus on growing the Korlym business and advancing its pipeline, including relacorilant. The settlement awaits court approval and must be reviewed by the FTC and DOJ. Related litigation remains pending against two other companies.

Corcept Therapeutics (NASDAQ: CORT) announced Joshua M. Murray's appointment to its Board of Directors. Murray is a seasoned finance executive, currently with Orca Bio, and previously spent 15 years at Goldman Sachs. His expertise is expected to support Corcept in expanding its commercial reach for Korlym^® and advancing its portfolio of selective cortisol modulators. This leadership addition may enhance strategic oversight and foster growth opportunities for the company, especially in navigating challenges within the biopharmaceutical sector.