Corcept's Korlym Drives its 2025 Revenue Surge: What's Ahead?

Corcept Therapeutics CORT has been witnessing steady demand for its sole marketed drug, Korlym (mifepristone), which is approved for the treatment of Cushing’s syndrome, or endogenous hypercortisolism. Currently, the company’s top line is entirely driven by product sales of Korlym.

In 2025, Korlym recorded sales of $761.4 million, up around 13% year over year. Similar to previous years, Corcept’s Cushing’s syndrome business continued to witness strong demand for the drug in 2025. Management expects the momentum to continue in 2026.

Corcept expects total revenues in the range of $900 million to $1 billion in 2026, reflecting the steady growth of Korlym. With expanded pharmacy capacity now in place, the company remains confident in its ability to meet future demand, which is expected to grow significantly.

Meanwhile, last month, 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. This might likely hurt Korlym's sales in the future quarters.

Also, Korlym sales have been previously affected by the insufficient capacity of a specialty pharmacy vendor. Although sales have regained momentum, we will need to wait for more sustained growth as 2026 progresses.

CORT Eyes Relacorilant to Reduce Dependence on Korlym

Besides Korlym, 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.

Corcept is also evaluating relacorilant plus nab-paclitaxel and Roche’s RHHBY Avastin (bevacizumab) in the phase II BELLA study for treating patients with platinum-resistant ovarian cancer.

Previously, management stated that the BELLA study would help in understanding whether combining relacorilant with two medicines — nab-paclitaxel and RHHBY’s Avastin — offers patients an additional treatment option or not. Data from the study 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.

CORT's Price Performance, Valuation and Estimates

Year to date, shares of Corcept have declined 49.9% compared with the industry’s decrease of 9%. The stock has also underperformed the sector and the S&P 500 during the same time frame, as seen in the chart below.

From a valuation standpoint, Corcept is trading at a premium to the industry. Going by the price-to-sales (P/S) ratio, the company’s shares currently trade at 5.62, higher than 2.28 for the industry. The stock is trading below its five-year mean of 7.54.

The Zacks Consensus Estimate for 2026 earnings per share (EPS) has decreased from 84 cents to 29 cents over the past 30 days. During the same time frame, EPS estimates for 2027 have decreased from $3.47 to $1.84.

CORT's Zacks Rank

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

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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

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