Corcept Therapeutics (CORT) Rallies 0.90% on Nine-Day Surge, Clinical Progress, Financial Strength

Corcept Therapeutics (CORT) climbed 0.90% on Thursday, marking its ninth consecutive day of gains with a cumulative rise of 10.50% over the period. The stock reached an intraday high of $1.92, its highest level since September 2025, driven by a confluence of clinical progress and financial strength.

Third-quarter revenue surged 48% year-on-year to $182.5 million, fueled by strong demand for Korlym, its corticosteroid inhibitor for Cushing’s syndrome. The company raised 2024 revenue guidance to $675–$700 million, reflecting improved prescribing patterns and patient access. Net income rose to $47.2 million, or $0.41 per share, outpacing operating expense growth and underscoring disciplined cost management.

Clinical data for relacorilant, its lead cortisol modulator, reinforced investor confidence. The Phase 3 GRADIENT trial confirmed significant reductions in blood pressure, glucose levels, and visceral fat, with a favorable safety profile. These results, coupled with positive Phase 2 data in ovarian cancer and type 2 diabetes, position relacorilant for a year-end NDA submission. The drug’s potential as a first-in-class therapy for Cushing’s syndrome and broader metabolic indications adds near-term catalysts.

Expanding its pipeline, Corcept is advancing dazucorilant for ALS and miricorilant for MASH, both in Phase 2 trials. These programs diversify the company’s therapeutic focus and reduce reliance on Korlym alone. Strong cash reserves of $547.6 million as of September 30 provide flexibility for capital allocation, including a $23.4 million share repurchase in Q3, signaling management’s conviction in intrinsic value.

Industry trends further support Corcept’s growth trajectory. Rising awareness of hypercortisolism’s role in comorbidities like diabetes and cardiovascular disease is expanding the patient pool for Korlym and relacorilant. With regulatory milestones and data releases approaching, the stock’s momentum reflects optimism about its ability to capture market share in underserved therapeutic areas.