Welcome to our dedicated page for Corcept Therapeutics news (Ticker: CORT), a resource for investors and traders seeking the latest updates and insights on Corcept Therapeutics stock.
Corcept Therapeutics Inc. (NASDAQ: CORT) generates frequent news as a commercial-stage pharmaceutical company focused on cortisol modulation in endocrinology, oncology, metabolic disease and neurology. Company updates often highlight progress with Korlym, which Corcept describes as the first FDA-approved medication for patients with endogenous hypercortisolism, and with a pipeline of selective glucocorticoid receptor antagonists and other cortisol modulators.
News about Corcept commonly covers clinical trial milestones in hypercortisolism, solid tumors, ALS and liver disease. Examples include data from the CATALYST program in patients with difficult-to-control type 2 diabetes and hypercortisolism, the pivotal ROSELLA Phase 3 trial of relacorilant plus nab-paclitaxel in platinum-resistant ovarian cancer, the BELLA Phase 2 trial in gynecologic cancers, the MONARCH Phase 2b trial in MASH, and the DAZALS trial of dazucorilant in ALS. Company communications also describe upcoming or ongoing studies of nenocorilant in combination with immunotherapy in solid tumors.
Investors following CORT news will see regular regulatory and corporate announcements, such as New Drug Application (NDA) submissions and FDA acceptance for review of relacorilant in hypercortisolism and platinum-resistant ovarian cancer, a Marketing Authorization Application (MAA) to the European Medicines Agency, and an FDA Complete Response Letter requesting additional evidence of effectiveness for relacorilant in hypertension secondary to hypercortisolism. Quarterly earnings releases and corporate updates, reported via press releases and Form 8-K filings, provide information on product revenue from Korlym, operating expenses and the company’s cash and investment position.
This CORT news page on Stock Titan aggregates these public disclosures so readers can monitor Corcept’s clinical data presentations, regulatory milestones, financial results and other material events in one place. Users interested in endocrine disorders, ovarian cancer, MASH, ALS or cortisol biology can review the evolving news flow to understand how Corcept’s programs are progressing over time.
Corcept Therapeutics (NASDAQ: CORT) announced it will report its first quarter financial results and corporate update on May 3, 2023, at 5:00 p.m. Eastern Time. A conference call will provide insights into the company's current financial standing and future plans. Participants must register in advance for the call to receive a unique access PIN. Additionally, a listen-only webcast will be available for those unable to attend the call. Corcept is known for its proprietary cortisol modulators aimed at treating serious health disorders like Cushing's syndrome, cancer, and PTSD. Its drug Korlym® was the first approved treatment for Cushing’s syndrome in the U.S.
Corcept Therapeutics, based in Menlo Park, California, announced the completion of its tender offer to purchase up to 7,500,000 shares of its common stock. The offer concluded on March 31, 2023, with a final count revealing that 6,610,369 shares were validly tendered. Corcept has accepted all those shares at a price of $22.00 each, resulting in an aggregate cost of approximately $145.4 million. This buyback accounts for about 6% of the company's total shares outstanding, which were 101,545,296 after the transaction. The tender offer involved Piper Sandler & Co. as the dealer manager and D.F. King & Co., Inc. as the information agent.
Corcept is known for developing medications that modulate cortisol effects, addressing serious conditions like Cushing’s syndrome and various cancers. The company continues to advance its clinical trials for additional treatments.
Corcept Therapeutics (Nasdaq: CORT) announced the preliminary results of its tender offer to repurchase up to 7,500,000 shares of its common stock, which expired on March 31, 2023. The company received valid tenders for 6,630,151 shares at a maximum purchase price of $22.00 per share, totaling approximately $145.9 million. This repurchase represents about 6% of its outstanding shares as of March 30. Corcept anticipates having around 101,435,180 shares outstanding after the transaction. Actual purchase numbers may vary pending confirmation by the Depositary.
Corcept Therapeutics (NASDAQ: CORT) has launched the CATALYST trial, a significant 1,000-patient Phase 4 study focusing on hypercortisolism in type 2 diabetes patients. This trial, featuring a randomized, double-blind, placebo-controlled design, aims to assess the prevalence of hypercortisolism and offer eligible patients treatment with Korlym. Corcept anticipates completing enrollment by year-end. Hypercortisolism, or Cushing's syndrome, affects around 20,000 individuals in the U.S. annually, leading to severe health complications. The CATALYST trial, backed by leading U.S. diabetologists, is expected to enhance patient care and outcomes.
Corcept Therapeutics has initiated a modified Dutch Auction tender offer to purchase up to 7.5 million shares of its common stock at prices ranging from $19.25 to $22.00. The offer, which is contingent upon at least 3 million shares being tendered, aims to maximize stockholder value and provide shareholders with an opportunity to liquidate some or all of their shares.
The offer will expire on March 31, 2023, unless extended. As of March 3, 2023, Corcept's shares closed at $19.20. The tender offer follows the company's strategy to enhance stockholder returns.
Corcept Therapeutics reported strong financial results for Q4 and FY 2022, with Q4 revenue of $103.1 million, up from $98.8 million in Q4 2021, and total FY revenue of $401.9 million, compared to $366.0 million in 2021. Q4 diluted net income per share was $0.14, down from $0.26 year-over-year. The company forecasts 2023 revenue between $430 million and $450 million. Corcept is advancing clinical trials for multiple cortisol modulators, with significant progress anticipated in treatments for Cushing's syndrome, ALS, and NASH. The NDA submission for relacorilant is expected in Q1 2024.
Corcept Therapeutics (NASDAQ: CORT) is set to release its fourth quarter and full-year 2022 financial results on February 28, 2023. The announcement will be accompanied by a corporate update and a conference call at 5:00 p.m. ET (2:00 p.m. PT). To participate, dial 877-407-8029 from the U.S. or +1-201-689-8029 internationally. A replay of the call will be accessible on the company’s website.
Corcept is known for its proprietary cortisol modulators, including its FDA-approved drug Korlym®, used to treat Cushing’s syndrome.
Corcept Therapeutics (NASDAQ: CORT) announced a settlement with Hikma Pharmaceuticals regarding patent litigation for its medication, Korlym®, used for treating Cushing's syndrome. The agreement allows Hikma to market a generic version of Korlym starting October 1, 2034, facilitating Corcept's focus on business growth and development of new cortisol modulators. The settlement awaits court approval and is subject to review by the FTC and DOJ. Corcept continues its clinical trials for various conditions linked to cortisol modulation, maintaining a strong intellectual property portfolio.
Corcept Therapeutics (NASDAQ: CORT) announced updates on its proprietary selective cortisol modulator, miricorilant, targeting antipsychotic-induced weight gain (AIWG) and non-alcoholic steatohepatitis (NASH). The trials for AIWG showed no reversal of weight gain, though miricorilant was effective in reducing liver fat in ongoing NASH studies. Promising results from pre-clinical and Phase 1 studies suggest potential further investigation into preventing AIWG. The company plans to conduct a Phase 2 trial next year for NASH.
Corcept Therapeutics (CORT) reported Q3 2022 revenue of $101.7 million, up from $96.1 million in Q3 2021. The company tightened its 2022 revenue guidance to $400 - $410 million. Net income increased to $34.6 million or $0.30 per share. However, revenue was impacted by reduced in-person physician interactions post-pandemic. Corcept is optimistic about ongoing clinical trials, particularly for treatments targeting Cushing's syndrome and ALS, with upcoming significant readouts expected.