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Corcept Therapeutics: Selective Cortisol Modulators in Oncology—How Big Can the Patient Reach Really Get?

Corcept Therapeutics reported a year-over-year increase in third-quarter revenue from $182.5 million to $207.6 million, highlighting robust growth in its hypercortisolism business despite ongoing capacity constraints from their previous pharmacy vendor. However, net income fell significantly from $47.2 million to $19.7 million, which may concern some investors. This decline in net income, despite the increase in revenue, is attributed to factors such as the acquisition of $50 million in company stock as part of a repurchase program. Corcept’s hypercortisolism business reported the shipment of Korlym tablets increased by 42.5% compared to the prior year, and there was a substantial expansion in the base of prescribers. This growth underpins the increased revenue and is likely attributable to increased physician awareness and the effectiveness of cortisol modulators highlighted in their CATALYST study.