CORT's Q1 Earnings In Line With Estimates, Revenues Lag, Shares Fall

Corcept Therapeutics Incorporated CORT reported first-quarter 2025 earnings of 17 cents per share, which were in line with the Zacks Consensus Estimate. The company had reported earnings of 25 cents per share in the year-ago quarter.Revenues in the first quarter increased 7.1% year over year to $157.2 million. The figure, however, missed the Zacks Consensus Estimate of $178 million. The top line solely comprises product sales of the Cushing’s syndrome drug, Korlym. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)Year to date, shares of Corcept have rallied 46.8% against the industry’s decline of 0.4%.Image Source: Zacks Investment ResearchCORT's Q1 Earnings in DetailRevenues from Korlym also missed our model estimate of $179.1 million.Per management, Korlym sales in the first quarter were affected by the insufficient capacity of a specialty pharmacy vendor who was unable to fulfill the surge in demand. The lower-than-expected sales disappointed investors. Consequently, shares of CORT were down 7.5% in after-hours trading on May 5 following the earnings result announcement.Research and development expenses rose 3.8% year over year to $60.7 million.Selling, general and administrative expenses increased around 61.1% year over year to $90.7 million.Consequently, operating expenses increased 31.1% year over year to $153.8 million in the first quarter.Cash and investments, as of March 31, 2025, totaled $570.8 million compared with $603.2 million as of Dec. 31, 2024.2025 GuidanceCorcept reiterated its total revenue guidance for 2025.The company continues to expect total revenues in the range of $900-$950 million in 2025. The Zacks Consensus Estimate for revenues is pegged at $905.7 million.CORT's Recent Pipeline UpdatesCorcept is developing its lead candidate, relacorilant, for treating patients with Cushing’s syndrome. In December 2024, CORT submitted a new drug application (NDA) for relacorilant to the FDA for the same. The NDA was based on positive data from the GRACE study and confirmatory evidence from the phase III GRADIENT, as well as long-term extension studies and a phase II study in hypercortisolism.In March 2025, the FDA accepted the NDA and assigned a Prescription Drug User Fee Act target action date of Dec. 30, 2025.Corcept is also evaluating relacorilant in combination studies for treating different types of cancer indications.The phase III ROSELLA study, which evaluated relacorilant in combination with nab-paclitaxel for treating patients with platinum-resistant ovarian cancer, met its primary endpoint of improved progression-free survival (PFS).Corcept plans to submit a new drug application in the United States in the third quarter of 2025, while a marketing authorization application in Europe is likely to be filed shortly thereafter.Last month, Corcept initiated the phase II BELLA study evaluating relacorilant plus nab-paclitaxel and Roche’s RHHBY Avastin (bevacizumab) for treating patients with platinum-resistant ovarian cancer.Per management, the BELLA study will help in understanding whether combining relacorilant with two medicines — nab-paclitaxel and RHHBY’s Avastin — offers patients an additional treatment option or not.The company is also evaluating relacorilant plus Xtandi (enzalutamide) in patients with early-stage prostate cancer. The study is being conducted in collaboration with the University of Chicago.In December 2024, Corcept announced data from the phase II DAZALS study, which evaluated its selective cortisol modulator, dazucorilant, for treating patients with amyotrophic lateral sclerosis (ALS), a degenerative neurologic disorder.The study did not meet its primary endpoint, which was the change from baseline in the ALS Functional Rating Scale-Revised (ALSFRS-R) in patients treated with dazucorilant versus those treated with placebo.However, an exploratory analysis of the DAZALS study at the one-year mark showed that patients who were treated with dazucorilant (300 mg) at baseline demonstrated significantly improved overall survival, compared to patients who received a placebo. Patients then did not switch to dazucorilant in the long-term extension study.Corcept is looking to seek input from the FDA and the European regulatory body to discuss the next steps of development for dazucorilant.Corcept Therapeutics Incorporated Price, Consensus and EPS Surprise Corcept Therapeutics Incorporated price-consensus-eps-surprise-chart | Corcept Therapeutics Incorporated QuoteCORT''s Zacks Rank & Stocks to ConsiderCorcept currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks in the biotech sector are ADMA Biologics Inc. ADMA and Immunocore Holdings PLC IMCR, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.In the past 60 days, estimates for ADMA Biologics’ earnings per share have increased from 69 cents to 71 cents for 2025. During the same time, earnings per share estimates for 2026 have increased from 87 cents to 93 cents. Year to date, shares of ADMA have rallied 38.3%.ADMA’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 32.80%.In the past 60 days, estimates for Immunocore’s loss per share have narrowed from $1.63 to $1.50 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.83 to $1.68. Year to date, shares of IMCR have gained 3.9%.IMCR’s earnings beat estimates in two of the trailing four quarters while missing the same on the remaining two occasions, the average surprise being 31.91%.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Corcept Therapeutics Incorporated (CORT): Free Stock Analysis Report ADMA Biologics Inc (ADMA): Free Stock Analysis Report Immunocore Holdings PLC Sponsored ADR (IMCR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks