MENLO PARK, Calif., (July 29, 2024) – Corcept Therapeutics Incorporated (NASDAQ: CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic and neurologic disorders by modulating the effects of the hormone cortisol, today reported its results for the quarter ended June 30, 2024. • Increase in 2024 revenue guidance to $640 – $670 million, from $620 – $650 million "Once again, we had a record number of new Korlym® prescribers ...

MENLO PARK, Calif., July 22, 2024 (GLOBE NEWSWIRE) -- Corcept Therapeutics Incorporated (NASDAQ: CORT) today announced it will report second quarter financial results and provide a corporate update on July 29, 2024. The company will also host a conference call that day at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Conference Call Information Participants must register in advance of the conference call by clicking here. Upon registering, each participant will receive a dial-in number, and a unique acce ...

Shares of Corcept Therapeutics Incorporated (CORT) have rallied 20% in the past three months against the industry's decline of 4.9%. The GRACE study consists of two parts — the open-label portion and the randomized withdrawal phase. Last month, CORT announced that the GRACE study met the primary endpoint in the randomized withdrawal phase. Data from the same showed that patients who were treated with relacorilant experienced loss of blood pressure control, the study's primary endpoint, versus placebo. Notab ...

Results from the CATALYST clinical trial were presented at the American Diabetes Association's 84th Scientific Sessions at a featured plenary session titled: "Prevalence of Hypercortisolism in Difficult-toControl Type 2 Diabetes" With 1,055 patients enrolled, CATALYST is the largest and most rigorous study ever conducted to assess the prevalence of hypercortisolism in patients with difficult-to-control type 2 diabetes Results demonstrate a hypercortisolism prevalence rate of 24 percent in this patient popul ...

"Until now, hypercortisolism has been widely regarded as extremely rare. But that turns out not to be true. These results show that hypercortisolism among patients with difficult-to-control type 2 diabetes is much more common than previously assumed and is likely the underlying cause of diabetes in many cases," said Ralph DeFronzo, MD, chief of the Diabetes Division and professor of medicine at UT Health San Antonio and CATALYST study investigator. "These insights should lead to expanded screening for hyper ...

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Corcept Therapeutics Incorporated (CORT) announced that the pivotal phase III GRACE study, which evaluated its lead pipeline candidate, relacorilant, for treating patients with Cushing's syndrome, met its primary endpoint. Shares of the company were up 14.9% on May 28 following the announcement of the news. Treatment with relacorilant was well-tolerated in both phases of the GRACE study. The GRACE study consisted of two parts — the open-label portion and the randomized withdrawal phase. The study has now me ...

MENLO PARK, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- Corcept Therapeutics Incorporated (NASDAQ:CORT), a commercial-stage company engaged in the discovery and development of medications to treat severe endocrinologic, oncologic, metabolic, and neurologic disorders by modulating the effects of the hormone cortisol, today announced that GRACE, the Phase 3 trial of its proprietary selective cortisol modulator relacorilant in patients with hypercortisolism (Cushing's syndrome), met its primary endpoint. The GRAC ...

Corcept Therapeutics Incorporated (CORT) reported first-quarter 2024 earnings of 25 cents per share, which beat the Zacks Consensus Estimate of 21 cents. The company had reported earnings of 14 cents per share in the year-ago quarter.Revenues increased 39% year over year to $146.8 million. The figure beat the Zacks Consensus Estimate of $138 million. The top line solely comprises product sales of Cushing’s syndrome drug, Korlym.Quarter in DetailRevenues from Korlym beat our model estimate of $129.8 million. ...

Financial Data and Key Metrics Changes - The company's revenue for Q1 2024 was $146.8 million, representing a 39% increase compared to the same quarter of the previous year [60] - Net income for the first quarter was $27.8 million, up from $15.9 million in the prior year [60] - Cash and investments as of March 31 were $451 million [60] - The revenue guidance for 2024 has been increased to a range of $620 million to $650 million [60] Business Line Data and Key Metrics Changes - The Korlym business continues to thrive, with a record number of new prescribers and patients [62] - The GRACE study showed that 63% of patients with hypertension met the study's response criteria, with significant improvements in blood pressure [68] - In the GRACE study, patients exhibited improvements in mean systolic and diastolic blood pressure of 12.6 and 8.3 mmHg from baseline, respectively [68] Market Data and Key Metrics Changes - The CATALYST study revealed that 25% of patients with difficult-to-control Type 2 diabetes were found to have hypercortisolism, indicating a higher prevalence than previously assumed [9] - The company is seeing increased awareness and diagnosis of Cushing's syndrome, which is expected to drive market growth [101] Company Strategy and Development Direction - The company is focused on advancing its proprietary selective cortisol modulator, relacorilant, which has shown promise in treating Cushing's syndrome and various cancers [63][70] - There is a strategic emphasis on enhancing disease awareness and screening for hypercortisolism, which is expected to expand the market for Korlym and relacorilant [25][89] - The company plans to explore broader applications of relacorilant in oncology, particularly in combination with chemotherapy agents [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth of the Cushing's syndrome franchise due to the positive results from the GRACE study and increased disease awareness [15][25] - The company anticipates that the full impact of the CATALYST study will be felt in 2025 and beyond, as data generation takes time to translate into clinical practice [101] - Management is optimistic about the potential for relacorilant to improve patient outcomes in various conditions, including cancer [70] Other Important Information - The company is currently involved in ongoing litigation with Teva Pharmaceuticals regarding patent infringement related to Korlym, with a decision expected in early 2025 [61][67] - The GRACE study is a pivotal trial for relacorilant, with data expected to support the submission of a new drug application [63][68] Q&A Session Summary Question: What drove the revenue growth in Q1? - Management noted an increase in first-time prescribers, prescriptions, and patients on Korlym, driven by improved field execution [81][82] Question: How is the company addressing potential generic competition? - Management stated that they are prepared for generic competition and have a plan in place to defend market share while continuing to grow the business [41][95] Question: What is the expected impact of the CATALYST study? - Management believes that the CATALYST results will increase screening for hypercortisolism, but the full impact will take time to materialize [101] Question: What is the confidence level regarding the randomized withdrawal phase of the GRACE study? - Management expressed strong belief that 12 weeks is sufficient to observe a statistically significant difference in patient outcomes [103] Question: How will the company approach commercialization if relacorilant is approved? - Management indicated plans to switch patients from Korlym to relacorilant while leveraging the existing market for both products [105]