Corcept Therapeutics Incorporated. (CORT)

Corcept Therapeutics' stock price has experienced significant fluctuations in the past six months. Starting at $34.80 at the beginning of 2026, it increased by 50.2% to $52.28 as of May 9, 2026, but over the last 12 months, its price fell by 25.56%. A major decline occurred on December 31, 2025, when the FDA issued a Complete Response Letter (CRL) for relacorilant, leading to a 50.4% single-day stock price collapse. Corcept reported its Q1 2026 earnings on April 30, 2026, missing revenue and EPS expectations, but raised its full-year revenue guidance for 2026 and announced positive two-year overall survival data from its Phase 2 study of dazucorilant in ALS.

Demand for Corcept Therapeutics' products, particularly Korlym, is characterized by high recurrence and predictability due to its use in treating chronic conditions like endogenous Cushing's syndrome, which requires long-term daily dosing, creating stable and predictable sales. The company's revenue is nearly 100% from repeat Korlym prescriptions, suggesting that demand for its medications is not subject to significant seasonality.

Corcept Therapeutics, Inc. is a commercial-stage pharmaceutical company focused on discovering, developing, and commercializing medications for severe metabolic, psychiatric, and oncologic disorders, operating within the pharmaceutical and biotechnology sector by modulating the effects of cortisol. Their flagship product is Korlym (mifepristone), approved in the United States for controlling hyperglycemia in adult patients with endogenous Cushing's syndrome who also have type 2 diabetes or glucose intolerance and are not candidates for or have failed surgery, and the company also markets an authorized generic version of Korlym. Corcept is also advancing a pipeline of proprietary selective cortisol modulators, including relacorilant, miricorilant, dazucorilant, and nenocorilant, being investigated for various conditions such as hypercortisolism, platinum-resistant ovarian cancer, MASH, ALS, and other solid tumors.

Corcept Therapeutics is headquartered in Redwood City, California, with its primary market for Korlym being the United States. While Corcept holds extensive United States and foreign intellectual property covering its selective cortisol modulators, its current revenue generation is almost entirely from the domestic market.

Corcept Therapeutics' brand reputation has been negatively impacted by the FDA's rejection of its New Drug Application for relacorilant in December 2025, leading to a securities fraud class action lawsuit alleging misrepresentation of clinical trial evidence and concealment of FDA warnings. An older event that impacted the company's reputation was in June 2008, when U.S. Senator Chuck Grassley criticized co-founder Alan Schatzberg for not fully informing Stanford University about the true value of his shares in Corcept.

Corcept Therapeutics has a mixed ownership structure including institutional, insider, and retail investors. Institutional shareholders hold approximately 70% to 71.99% of the company, with major holders including BlackRock, Inc. and The Vanguard Group, Inc. Insider ownership is also notable, with insiders owning approximately 11.75% to 183.09% of the company's stock, and Patrick G. Enright being the largest individual shareholder. Retail investors hold a smaller portion, with estimates ranging from 0% to 47.47%.