Corcept Therapeutics

Corcept helps people with serious hormone-related diseases manage their symptoms. Its main drug, Korlym, treats high blood sugar caused by Cushing’s syndrome. The company also develops new medicines for cancer, liver, and nerve disorders.

What’s in the Medicine Cabinet?

• Korlym (mifepristone): Oral drug for adults with Cushing’s syndrome and high blood sugar; together with its authorized generic, accounted for all 2025 product revenue.
• Authorized Generic Korlym: Lower-cost version of Korlym, launched June 2024; also for Cushing’s syndrome.
• Relacorilant: Experimental drug for Cushing’s syndrome and several cancers; not yet approved or generating revenue.
• Miricorilant: In development for liver disease linked to metabolic dysfunction; no revenue yet.
• Dazucorilant: Pipeline drug for amyotrophic lateral sclerosis (ALS), a nerve disease; not yet on the market.

Growth Spurts and Strategic Moves

• Launched authorized generic Korlym in June 2024 to address pricing and competition.
• Transitioned specialty pharmacy services from Optime Care to Curant Health Georgia in late 2025.
• Submitted a new drug application for relacorilant in Cushing's syndrome in December 2024 and in ovarian cancer in July 2025.
• Expanded clinical pipeline with multiple Phase 2 and 3 trials in cancer, liver, and nerve disorders (2024–2025).
• Secured new office space in Redwood City, California, for growth in 2026.

Why Corcept Isn’t Just Another Biotech

Corcept focuses on drugs that block the effects of cortisol, a stress hormone. Its medicines target rare and difficult-to-treat diseases, often where few options exist. The company’s direct-to-patient sales model relies on specialty pharmacies for distribution.

Five Things You Need to Know

• Revenue was $761.4 million in 2025, up 12.8% from 2024.
• All 2025 revenue came from Korlym and its generic version.
• Net income was $99.7 million in 2025, down 29.4% from 2024.
• Research and development spending was $254.9 million in 2025, up 3.2% year-over-year.
• Corcept had $532.4 million in cash and investments at the end of 2025.

Bottom Line

Corcept has grown by focusing on rare hormone disorders and expanding its drug pipeline. The company faces competition and legal risks but maintains a strong cash position and ongoing research efforts.