CORT · Corcept Therapeutics Incorporated

Corcept Therapeutics reported first quarter 2026 financial results that reflect a pivotal transition for the company. Revenue increased 4.9% year-over-year to $164.9 million, driven by continued demand for Korlym and the authorized generic in Cushing's syndrome, as well as initial launch activities for Lifyorli (relacorilant) in platinum-resistant ovarian cancer. The company swung to a net loss of $31.8 million from net income of $20.5 million in the prior year quarter, primarily due to a $60.7 million increase in operating expenses to $214.5 million. The expense growth was attributed to investments in the Lifyorli launch, including commercialization and manufacturing scale-up, as well as increased R&D spending across the pipeline. Management noted that the company expects to return to profitability in the second quarter of 2026. A key highlight was the FDA approval of Lifyorli in March 2026, more than three months ahead of its PDUFA date, and its subsequent addition to NCCN Guidelines as a preferred regimen in April. The company raised its full-year 2026 revenue guidance to $950-$1,050 million, up from the prior range, reflecting strong initial uptake of Lifyorli and confidence in the Cushing's syndrome business. Cash and investments stood at $515.4 million at quarter-end, providing ample runway to support the launch and ongoing clinical programs. The earnings release also provided updates on several clinical trials, including the BELLA trial in ovarian cancer, the MONARCH trial in MASH, and plans to initiate a Phase 3 trial of dazucorilant in ALS later this year. Overall, the quarter marks a significant milestone as Corcept transitions from a single-product company to a multi-product commercial-stage biopharmaceutical firm.