Corcept's Q4 Earnings and Revenues Fall Short of Estimates

Corcept Therapeutics CORT reported fourth-quarter 2025 earnings of 20 cents per share, which missed the Zacks Consensus Estimate of 27 cents. The company had reported earnings of 26 cents per share in the year-ago quarter.

Revenues in the fourth quarter increased around 11.1% year over year to $202.1 million. The figure, however, substantially missed the Zacks Consensus Estimate of $254 million. The top line solely comprised product sales of the Cushing’s syndrome drug, Korlym.

In the past six months, shares of Corcept have plunged 46.9% compared with the industry’s decline of 2.1%.

CORT's Q4 Earnings in Detail

Revenues from Korlym missed our model estimate of $250 million.

Research and development expenses fell 7.7% year over year to $64.9 million.

Selling, general and administrative expenses increased around 56.1% year over year to $130.2 million.

Consequently, operating expenses increased 26.2% year over year to $197.6 million in the fourth quarter.

Cash and investments, as of Dec. 31, 2025, totaled $532.4 million compared with $524.2 million as of Sept. 30, 2025.

CORT's Full-Year Results

For 2025, Corcept generated revenues of $761.4 million compared with $675 million recorded in the year-ago quarter.

For the same period, the company reported earnings of 82 cents per share, down from $1.23 per share reported in the year-ago period.

2026 Guidance

Corcept expects total revenues in the range of $900 million to $1 billion in 2026. The Zacks Consensus Estimate for revenues is pegged at $1.03 billion.

CORT's Recent Pipeline Updates

Corcept is developing its lead pipeline candidate, relacorilant, for treating Cushing's syndrome as well as certain cancer indications.

The FDA accepted the new drug application (“NDA”) seeking approval for relacorilant in combination with nab-paclitaxel for treating patients with platinum-resistant ovarian cancer in September 2025. A decision from the regulatory body is expected on July 11, 2026.

Corcept recently submitted a marketing authorization application to the European Medicines Agency, seeking approval for relacorilant plus nab-paclitaxel to treat patients with platinum-resistant ovarian cancer. A decision in Europe is expected by 2026-end.

Relacorilant, in combination with other anticancer therapies, is also being studied in other solid tumors, including platinum-sensitive ovarian, endometrial, cervical and pancreatic cancers. Results from these studies are expected by the end of next year.

Corcept recently suffered a major setback when the FDA issued a complete response letter (“CRL”) to the NDA seeking approval for relacorilant to treat patients with hypercortisolism (Cushing’s syndrome). This NDA was based on positive data from the GRACE study, confirmatory evidence from the phase III GRADIENT study, long-term extension studies and a phase II study in hypercortisolism.

The company is currently engaging with the FDA to determine the best path forward to approval for relacorilant in Cushing’s syndrome.

Meanwhile, last week, the Federal Circuit Court of Appeals ruled against Corcept’s lawsuit to stop Teva Pharmaceuticals TEVA from marketing a generic version of Korlym.

The United States Court of Appeals for the Federal Circuit ruled that TEVA’s sale of a generic version of Korlym does not violate two patents held by Corcept. These patents cover methods for safely using Korlym alongside drugs that inhibit the CYP3A4 enzyme, which are commonly prescribed to patients with Cushing’s syndrome.

The decision upholds a December 2023 ruling by the United States District Court for the District of New Jersey.

Apart from this, Corcept is developing its other pipeline candidates, dazucorilant and miricorilant, in separate studies for treating amyotrophic lateral sclerosis and biopsy-confirmed or presumed metabolic dysfunction-associated steatohepatitis, respectively. Several data readouts are expected by the end of 2026.

Corcept Therapeutics Incorporated Price, Consensus and EPS Surprise

Corcept Therapeutics Incorporated price-consensus-eps-surprise-chart | Corcept Therapeutics Incorporated Quote

CORT's Zacks Rank & Stocks to Consider

Corcept currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Castle Biosciences CSTL, each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 60 days, estimates for Harmony Biosciences’ 2026 earnings per share have increased from $3.72 to $4.00. HRMY shares have fallen 24.7% in the past six months.

Harmony Biosciences’ earnings beat estimates in two of the trailing four quarters and missed in the remaining two quarters, with the average earnings surprise being 7.20%.

Over the past 60 days, Castle Biosciences’ 2026 loss per share estimates have narrowed from $1.06 to 96 cents. CSTL shares have rallied 45.8% over the past six months.

Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 66.11%.

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This article originally published on Zacks Investment Research (zacks.com).

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