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Corcept Therapeutics Incorporated reported strong financial results for the first quarter of 2024, with a revenue of $146.8 million, a 39% increase from the same period in 2023. The company raised its 2024 revenue guidance to $620 - $650 million and reported a net income per common share of $0.25. Corcept continues to focus on developing medications for various disorders by modulating the effects of cortisol. The company highlighted record numbers of new prescribers and patients for its drug Korlym in the first quarter, showcasing its growing presence in the market.
Corcept Therapeutics Incorporated has completed enrollment in the Phase 4 CATALYST trial, the largest study ever conducted to establish the prevalence of hypercortisolism in patients with difficult-to-control type 2 diabetes. Approximately 25% of the over 1,000 patients enrolled were identified as having hypercortisolism, a higher rate than previously assumed. Final prevalence data will be shared at the American Diabetes Association’s 84th Scientific Sessions in June, with treatment data expected by year-end. The findings from CATALYST aim to improve the identification and treatment of patients with hypercortisolism.