Corcept Therapeutics Inc. - CORT STOCK NEWS

Corcept Therapeutics (CORT) announced a modified Dutch Auction tender offer to purchase up to 10 million shares at prices between $20.75 and $23.75 per share. This offer is aimed at maximizing stockholder value and allows investors to sell their shares back to the company. The tender offer will expire on December 7, 2021, unless extended. At the close of trading on November 5, 2021, CORT shares were priced at $20.68. The offer is contingent upon at least three million shares being submitted. Specific terms are detailed in the offer documentation.

Corcept Therapeutics reported third-quarter results for 2021, achieving $96.1 million in revenue, an 11% increase year-over-year. GAAP diluted net income rose to $0.24 per share from $0.17 in the same quarter of 2020. Cash and investments totaled $495.2 million, up from $471.6 million. The company tightened its 2021 revenue guidance to $365 – $375 million. Key developments include ongoing clinical trials for various conditions, including Cushing’s syndrome, with a New Drug Application (NDA) submission expected in Q2 2023.

Corcept Therapeutics (NASDAQ: CORT) announced it will report its third quarter financial results on November 3, 2021, at 5:00 p.m. ET. A corporate update will accompany the financial results. The company is known for its drug Korlym®, the first FDA-approved treatment for Cushing's syndrome, and specializes in cortisol modulation for severe disorders. Interested participants can join the conference call by following the provided link or by dialing in. A replay of the call will be available until November 10, 2021.

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.